In the world of blockchain, some projects get a lot of attention from both developers and investors. Right now, Sui is one of the most talked-about networks. Many exciting things are happening in its ecosystem, including a partnership with SCION, which helps make internet connections faster and more secure.
In this article, let’s explore what makes the Sui network special, why it is becoming popular, and how meme coins on the Sui blockchain are making waves.
What is the Sui Network?
Sui is a Layer-1 blockchain project developed by Mysten Labs, the same team that once worked on Facebook’s Diem blockchain. A Layer-1 blockchain means it is a base platform, just like Bitcoin or Ethereum, where people can build applications. Sui aims to create a fast and efficient platform that anyone can use.
What makes Sui stand out is that it uses a special programming language called Move. Move allows the blockchain to process transactions quickly, safely, and on a large scale. Developers love it because it makes it easier to build secure apps that won’t slow down, even with many users.
Key Features of Sui
Sui offers:
- Smart contracts: These are programs that run on the blockchain, automating tasks like payments.
- Decentralized apps (dApps): Applications that work without a central authority, like peer-to-peer payment systems.
- DeFi tools: These are financial tools that let people trade, lend, or borrow money using cryptocurrency.
The Move language helps developers create these features with more security and faster speeds than other blockchains. This encourages many people to build on Sui, growing its community and ecosystem.
SCION Integration: What Does It Mean for Sui?
Sui is the first Layer-1 blockchain to use SCION, a technology that improves how data travels over the internet. SCION makes sure data is routed more efficiently and is safe from attacks, like DDoS (when hackers try to overwhelm a network).
This new feature ensures that Sui’s network stays online even if the internet faces disruptions. As long as either SCION or the internet works, Sui’s nodes (computers running the network) will keep operating. This makes Sui reliable and reduces the chances of network downtime.
The Rise of Meme Coins on Sui
One of the big reasons Sui is gaining attention is the rapid success of meme coins on its network. Meme coins are cryptocurrencies that often start as jokes or fun projects but can become valuable.
In just 24 days, the total value of all meme coins on the Sui network increased by 15%, reaching $256.3 million on October 4.
While meme coins are becoming popular on other blockchains like Solana, Base, and The Open Network (TON), Sui is seeing some of the most impressive growth.
Top Meme Coins on Sui
- Sudeng (HIPPO):
- Market value: $154.3 million
- The HIPPO team donates part of their profits to help wildlife across the world.
- Recently, HIPPO’s price jumped 180% from a low point.
- Blub:
- This is the second-largest meme coin on the Sui network. Its value rose 10% last week.
- Fud the Pug (FUD) and aaa Cat:
- These coins saw even bigger gains, with increases of 100% and 650%, respectively.
Sui Network Activity is Growing Fast
The Sui network is seeing a huge increase in transactions and activity. According to DefiLlama, the total value of transactions on the Sui network increased by 650% in just one month, rising from $26.1 million in September to $198.7 million on October 3.
The total number of transactions on the network reached 2.02 billion, showing that more people are using Sui.
In addition, the total value locked (TVL) on the network – which measures the amount of money being used in apps on Sui – grew 63%, reaching $1 billion by October 4. This is a positive sign that more people trust the platform and are willing to keep their money in it.
The Price Surge of the SUI Token
The SUI token, which powers the Sui network, has seen a big increase in price. Over the last 30 days, its value has risen by more than 120%.
- On October 4, the SUI token was worth $1.60, a 165% increase from its recent low of $0.742.
- Today, the token is trading around $2, just below its all-time high of $2.17, reached in March.
If SUI can hold its support level at $1.45, experts believe the next price target could be between $2.16 and $2.56.
Why Sui’s Growth Matters
Sui is quickly becoming one of the most promising blockchain projects in the market. With its innovative technology, growing community, and partnerships like the one with SCION, it could become a major player in the blockchain world.
In the future, Sui’s success will depend on:
- Attracting more developers to build new apps on the platform.
- Forming partnerships with other important companies.
- Continuing to innovate and stay ahead of competitors.
If Sui continues this positive trend, it could even reach the top 10 cryptocurrencies by market value.
Conclusion
The Sui network is one to watch closely. Its unique technology, growing user base, and rising token price make it a strong contender in the blockchain space.
As more developers join the network and users trust the platform, Sui has the potential to grow even faster. Whether through exciting meme coins or advanced partnerships like SCION, Sui is well-positioned to succeed in the coming years.
If the momentum continues, Sui could become a major force in the next bull run, bringing even more attention and value to its ecosystem.