The SUI ecosystem is developing rapidly, with a market capitalization surpassing the top 20.

Recently, with the unlocking of SUI tokens and the launch of the cross-chain bridge on the mainnet, as well as the surge in popularity of meme tokens, SUI has led a new round of price increase, with its market capitalization rising to the top 20.

SUI is a permissionless, PoS-based Layer 1 blockchain developed by Mysten Labs, designed to provide instant settlement and high throughput to support a wide range of latency-sensitive decentralized applications. The project was founded by members of the original Facebook Libra/Diem team and has gained capital favor.

SUI performed brilliantly in 2024, with market capitalization significantly increasing month-on-month. The price has shown an overall upward trend, reaching an all-time high of $2.18 on March 27. As of October 3, the price of SUI is approximately $1.92, with an increase of over 100% in the past three months.

The SUI ecosystem is rapidly expanding, attracting numerous developers and enterprises to participate. It mainly includes the following types of projects:

DeFi projects:

• DEX such as Cetus, DeepBook
• Lending protocols such as Navi, Scallop, and Suilend
• OKX Wallet, Sui Wallet, Suiet and other wallet solutions

Game project:

• SuiPlay0x1: Lightweight handheld gaming device
• DARKTIMES: Battle Royale Game

Meme Token:

• $Hippo: market capitalization surpasses 100 million USD
• $BLUB: Similar to "pepe in the water"
• $FUD: early issued meme tokens

The economic model of SUI maintains network activity through staking rewards and community incentives, while driving token usage through smart contract and DApp innovations. Approximately 52.2% of the tokens will be unlocked after 2030 to support long-term development.

Key events for SUI in 2024 include:

• Network iteration updated to version V1.34.2
• Launch the Hydropower program and Enoki enterprise platform
• Circle's native USDC is about to launch.
• Sui Bridge officially launched on the mainnet
• Grayscale launched the SUI Trust Fund

The technical advantages of SUI are mainly reflected in:

1. Object-oriented account model
2. Native Random Function
3. Native Zero-Knowledge Proof Support

The SUI project has excellent technology and strong team support, with long-term development potential. However, it still faces challenges such as market competition and a lack of blockbuster applications. Investors should closely monitor its ecological development progress and assess the related risks when making decisions.