9 months ago
57 ARTICLE AD
Sui’s token price has broken a new record high, reaching $1.58 earlier today, according to data from CoinGecko. At press time, SUI is trading around $1.5, up 13% in the past 24 hours. The total value locked (TVL) on Sui surged 98% month-to-date, increasing from around $208 million to $411 million, according to data from DeFiLlama.
With this surge, Sui has surpassed Coinbase’s Base and Cardano in TVL, with Base experiencing a 9.5% downturn to around $397 million, and Cardano witnessing a nearly 15% decline to $340 million over the last month. This surge is attributed to the growth of the Sui ecosystem, fueled by recent strategic partnerships with prominent entities like Alibaba Cloud and Solend.
Mysten Labs, the team behind Sui, recently announced its partnership with Alibaba Cloud to provide more resources for developers using the Move programming language. Additionally, Solend, a lending and borrowing platform on Solana, announced last month its expansion onto the Sui network.
Solend is expanding to Sui with the launch of a new project, @suilendprotocol!
Solend is and will always be the most trusted place to lend and borrow on Solana.
Soon, Suilend will be the most trusted place to lend and borrow on Sui! https://t.co/0Kj66QpTT5
— Solend (@solendprotocol) December 20, 2023
In addition to these collaborations, the Sui Foundation motivates projects to participate in the Sui ecosystem with infrastructure-friendly tokenomics that use SUI tokens to incentivize projects and users within the Sui network.
Sui’s market cap reached approximately $1.5 billion, up over 80% in the past month, according to Token Terminal’s statistics.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
