Crypto News: SUI surges 67 percent, outperforming Solana and Ethereum

When you talk about crypto, most people probably first think of Bitcoin. The BTC is the oldest cryptocurrency in the world and stands for the digital token like no other. The number one crypto ranking is currently crushing one all-time high after the next. Bitcoin is currently trading at around $81,400. In the last 24 hours, the BTC price has risen by 2.63 percent, and even by 18.68 percent on a weekly basis. But a look at the lower areas of the crypto ranking is also quite interesting. Sui, currently number 14 in the crypto rankings, has risen by almost 67 percent over the week, beating Bitcoin and is currently trading at $3.15. This means that the coin even made it into the trending charts.

Sui is on a growth path and is overtaking Solana and Ethereum

Sui (SUI) is currently outperforming the competition in all areas, recording an impressive net inflow of $24.3 million. According to a report by Mysten Labs co-founder and head of Sui Team Adeniyi Abiodun, this amount is significantly higher than Solana (SOL) and Ethereum (ETH), which only received $10 million and $9.7 million in inflows, respectively were able to record. Sui also came out on top in a weekly comparison, outperforming Aptos and even Bitcoin. Monthly, Sui recorded an increase of $19.3 million, while Solana only achieved $12.3 million. The USDC running on the network has also now exceeded the $100 million mark. This is interesting because the token was only launched on the blockchain around two months ago. USDC dominance is now over 64 percent. SUI’s TVL is currently $1.3 billion. In August of this year, this figure was still at $313 million.

What kind of project is Sui?

The Sui mainnet officially launched on May 3, 2023. The blockchain project made a name for itself in advance because it received funding from Binance Labs and Circle, among others. On the one hand, the network appeared as a Solana and Ethereum killer. On the other hand, the development team behind the project will offer users extremely high scalability and low latency.

#Sui is not just another layer 1…we are building far beyond that. We are building the most resilient public infrastructure for the digital age. pic.twitter.com/L4kULROApZ

— Adeniyi.sui (@EmanAbio) November 8, 2024

In addition, Sui, like Algorand among others, aimed to solve the famous blockchain trilemma. Algorand uses the pure proof-of-stake consensus protocol, while Sui uses delegated proof-of-stake. The network has a unique architecture that allows transactions to be processed in parallel. This parallelization differs from other blockchains, which often work sequentially. This allows the blockchain to handle a high transaction load and transaction confirmations are virtually instantaneous. The focus of the project is primarily on DeFi, gaming and commerce. The network’s native token is SUI

By the way: The team behind Sui worked on the now defunct blockchain project of Meta Libra or Diem. Just like Aptos, the other half of the former Diem development team is working on, Sui uses the Move programming language. However, both projects operate independently of each other. Sui is also planning its own game console, which should come onto the market in 2025.

Pepe Unchained – Meme Coin and Layer 2

While Sui is a highly scalable Layer 1 blockchain, other Layer 1s such as Ethereum now rely on Layer 2 solutions to increase scaling. Many of the layer 2 chains are now extremely popular, as they (usually) combine the best of both worlds. The high security of Layer 1 with low fees and high transaction speeds. Ethereum in particular is notorious in the crypto space for its high gas fees. Pepe Unchained now adds a third component to the whole thing: the virality of a meme coin. PEPU is the first meme coin project to have its own Layer 2. This seems to be extremely well received by investors. With its current presale, the project has already raised over $26 million in raising capital.

The meme coin with its own ecosystem

There have been many frog tokens since Pepe’s great success in spring 2023. So far, however, no one has really been able to pose a real threat to the “original frog”. However, Pepe Unchained unleashes its full potential and has set out with the clear goal of dethroning the father of all frog meme coins. An entire ecosystem is to be created on level 2 of the project. For this purpose, the team created a developer support program, which has now started. This is intended to fully exploit the possibilities offered by Layer 2. For example, dApps are conceivable, but also your own meme coin projects or NFT. A project-specific DEX is also planned. If you want to become an early bird investor, you must connect a compatible wallet to the project website. One PEPU costs $0.01249. Payment can be made with ETH, USDT or BNB. Credit card payments are also possible.

Connect your wallet here and buy PEPU in the presale

Note: Investing is speculative. Your capital is at risk when investing. This website is not intended for use in any jurisdiction where the trading or investing described is prohibited and should only be used by persons and in a manner permitted by law. Your investment may not be eligible for investor protection in your country or state of residence. Therefore, do your own due diligence. This website is free for you to use, however we may receive commissions from the company that we feature on this website.