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Information about Sui (SUI)
Sui is a high-performance smart contract platform under a Monolithic structure. In particular, a Monolithic blockchain is a blockchain that handles all tasks and jobs on a single network. Sui is scalable up to several hundred thousand TPS (number of transactions processed per second) and block times range from 2 – 3s.
Sui's goal is to expand Web3's ecosystem, providing an infrastructure with the right incentives for developers to quickly build and launch applications.
Sui uses the MOVE programming language and Narhal-Tusk, a consensus algorithm that solves the Mempool problem - consensus in traditional blockchain designs like Ethereum & Bitcoin. Based on this specification, the Sui blockchain allows the network to scale horizontally, able to support millions of transactions per second without requiring dedicated nodes in the network.
SUI is a native coin of the Sui ecosystem and can be used to:
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News
The cryptocurrency market fell 3.5% recently, dropping below 3 trillion USD, indicating investors’ shift towards US stocks amidst Trump’s easing stance on China tariffs.
Bitcoin (BTC) remains around 93,000 USD after failing to break the 95,000 USD resistance despite record ETF inflows of 917 million USD.
SUI and the Trump token are among the few that gained; SUI increased by 3% while the Trump token soared by 31.7%, defying general bearish sentiment.
Sui has introduced a virtual Mastercard in collaboration with xMoney and xPortal. Users can utilize SUI at more than 20,000 merchants immediately following the launch, tapping into xPortal’s user base of about 2.5 million.
The partnership aims to bridge traditional finance and decentralized economy. XMoney provides essential compliance and infrastructure for Sui’s financial products, enhancing user experience.
A physical version of Sui’s Mastercard is planned for release by the end of 2025. This development is intended to broaden access to Sui’s ecosystem in the conventional market.
Bitcoin’s price has hit 94,200 USD, achieving new highs for the third consecutive day. This surge reflects a growing market interest as Bitcoin ETFs witness record inflows of 921 million USD.
SUI is leading altcoins with a remarkable 20% increase in value. Cardano (ADA) and Ethereum (ETH) also see strong performances with gains of 5% and 4%, reflecting positive developments in the market.
In regulatory news, the SEC has charged PGI Global’s founder with fraud. Meanwhile, Gate.io pledged full reimbursement to users affected by a recent trading platform outage, ensuring user trust during system upgrades.
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