SUI ECOSYSTEM
This week some projects unveiled on SUI ecosystem
The SUI token sits right now, as I record at $4.70, which is up over 24% on the day, with a fresh new all-time high of $4.86 set just a couple of hours ago. So, is the SUI token the Solana or the SOL of this particular bull run? Well, it’s already gone up 16 times against its all-time low, which was 36 cents that were in October 2023, but does SUI still have the potential to beat Solana’s run in 2021, which was 170x.
Get an email whenever Income Wallet publishes.
There are actually a whole bunch of reasons that explain SUI’s recent and continued meteoric growth. We’re gonna be covering them in this article. But really, it kind of all boils down to the fact that SUI’s ecosystem projects are doing really well.
The good news is also that SUI has a lot of airdrops that are upcoming that are associated with these projects. For example, yesterday, we saw the Bluefin, the BLUE token generation event.
Then today, the 12th of December, we have the Suilend or SEND TGE. In this article, we’re gonna be exploring SUI, its red hot ecosystem, and analyzing where we think this project is going to continue to go and grow. And stick around until the end because I’ve got some pretty good early leads on crypto Bull Run gems that find themselves under the SUI umbrella.
Token Updates & Partnerships
Why is the SUI token pumping as hard as it is right now? Like I said, there are a few different reasons here that we’re going to explore, but a primary one really is the new partnerships that have been announced with big Solana projects.
Phantom, for example, this is the original Solana wallet, just to give you a sense of its size, it has 7 million daily users, not 7 million users. 7 million daily users.
Then there’s also Backpack, which, besides being a pretty good wallet, is also an exchange. Both of these partnerships are going to increase the inflow, of course, of native users into SUI’s ecosystem and SUI’s DeFi meme coins and NFTs, kind of indirectly, but certainly also will benefit from this as well.
This SUI and Solana partnership is massive, really, for both chains, but SUI, being the smaller one, arguably has a larger upside in terms of those benefits. And the best part is that more Solana projects are also waiting to join up with SUI.
We’re also seeing a whole bunch of institutional interest in SUI. For example. Here, there’s the recent strategic partnership with Franklin Templeton digital assets.
Then, earlier this year, we also saw the Grayscale SUI Trust. And those are just two quick examples, but really institutional interest in SUI is on the rise right now, and that’s very important for a project, any project, really, but in this case, it’s really stimulating growth.
These are all indications that SUI can indeed be the Solana, if you will, of this bull run. Don’t get me wrong, Solana is going to continue to do well in this market. Certainly, I have every expectation that is going to continue to set new all-time highs. However, I think expectations have to be reasonable, because with a project like Solana, of course, it’s already at a pretty huge market cap right now, as I record $110.6 billion dollars. So, doing 10x for Solana is a little bit more difficult at this size.
SUI’s market cap is growing, and it’s becoming more and more impressive, but it is much smaller. It’s currently still below $14 billion, and so just that disparity there between the two again, 110 versus 14, it just means that SUI has more growth potential. An influx of investment capital into SUI is going to push the needle more so than it would for Solana.
If Solana does a 3x and triples in value from where it is now, for example, it hits $330 billion in market cap, whereas that would be a 33x for SUI from where it is right now. Look, I don’t have to explain. You’re intelligent enough to get basic arithmetic, but that’s the idea.
Right now, your best option is to DCA $1 cost average in and out of SUI. This is just a universal best practice. The idea is that you buy a fixed amount at regular intervals, whether that’s daily or weekly, in USD, and then you take advantage of the price volatility. Facility. It kind of takes the emotion out of the equation completely, and you stay disciplined, you stick to a schedule, and then, as the price rises, maybe you take some profits along the way. That’s up to you, but either way, I would highly recommend a stable DCA strategy. This is a tried and tested method.
SUI Ecosystem Gems
With that being said, Let’s now switch gears. Let’s take a look at some SUI ecosystem projects. So here are four projects within the SUI ecosystem that we particularly like, that we feel are worth checking out. We begin here with Deep Book ticker DEEP, which is the backbone of SUI’s DeFi ecosystem as such, DEEP book does not have a UI or a user interface. However, you can find it in almost all major SUI DeFi protocols. As I record right now, DEEP is up 40% in these last 24 hours, hitting a new all-time high of 9.947 cents.
The second SUI ecosystem project that I want to alert you to is Cetus Protocol, ticker CETUS this is a DEX and ranks third in TVL, total value locked among all SUI DeFi platforms. It’s also one of SUI’s strongest performers in its ecosystem. Now, compared to deep, it’s up only a modest 19.5% but still pretty impressive over these last 24 hours, it sits right now at 41, let’s call that 41 and a half cents, with a market cap of $258 million.
I should point out here that the tokenomics are pretty strong. So, 623 million tokens out of the 1 billion Max supply are already in circulation. So, 62.3% for a young project, that’s not bad.
Next up here in the SUI ecosystem, we’re looking at Turbos Finance ticker TURBOS, and here we have one of the SUI altcoins that has a very low market cap, like Cetus it’s also a Dex. It’s got plenty of features on offer, things like pools, yield strategy, and Grand Prix. This is where you can hold more than 5000 TURBOS tokens and collect weekly rewards. There’s also turbos fun. That’s their meme coin launch pad with fair launches. And there’s also their regular launch pad.
Just about everything in the SUI ecosystem seems to be doing really well today, and turbos is no exception. The token is up right now by nearly 15% on the day in these last 24 hours. But check out this market cap. Like I said, it’s ultra-low, $11 million, just barely $11 million.
For the last project here in the SUI’s ecosystem, I want to highlight BLUB, because we have to talk about meme coins. In this case, BLUB is their fish-themed meme coin, and it has the strongest community that you could imagine among these kinds of things.
This one is up over 27% on the day, but it’s still got a pretty modest market cap, at only $63 million I’d say this is probably the meme coin in this ecosystem that I could most likely see doing a 100x that’s not a guarantee. That’s not even a prediction. But, I think if you were to ask me, among the meme coins in the SUI ecosystem under the SUI umbrella, this is probably the most likely to have that kind of success.
Then, just briefly, I want to mention that NAVI Protocol, NAVX, is another one that has performed pretty well. It’s up over 12% on the day. However, the community was apparently not too happy with their airdrop. That’s why it’s actually not that well-liked in said community right now.
What to Expect
Okay, so what’s happening right now, and what can we expect? Let’s frame this by first talking about how Yesterday we saw the TGE, that is, the token generation event and airdrop of Bluefin’s BLUE token. The price right now is just on fire. It’s up over 48% on the day at the time of recording. So, really, congratulations and kudos to the team for what’s been a very successful launch and airdrop.
Then, like I said today, December 12, Suiend launched its send SEND token that’s, once again, a very successful launch SEND’s price just keeps going up. As I speak right now, it sits at about $2.40. So, congratulations are also due here to the Suilend team. And by the way, just in case you didn’t know that, Suilend originates from Solend, which is another Solana project.
This is stuff that you knew about months ago. If you want to keep hearing about great opportunities like SUI and all kinds of new future opportunities as we continue on this path in the bull run. Check out the link in the description of this article below. You can sign up. You can benefit, like the other members have been benefiting, and you can also get a free month and try it out. There’s also more here in the SUI pipeline, just rapid fire. We’ll go through some of the updates.
Here, and what’s upcoming, the KUMO NFTs have their KOBAN airdrop coming their way. Those NFTs, as I record, are hovering at around a 174 SUI floor price. Then there’s also the Liquor or LIQ meme coin, which is moving forward into becoming an AI agent that should go live today.
In all likelihood, this should give a lick again. LIQ a nice positive price impulse. With the current market cap of just under 2 million, this is still really very high potential, arguably a very undervalued project.
However, their X account is currently suspended, so there’s not a lot of news and updates that are flowing out as a result of that. There’s also the Kriya DEX that has an airdrop that’s coming up very soon. This could be the right time to start farming it, if you’re into that kind of thing.
My final thought, just to kind of close off on the day, as you guys may know, I’m not the biggest fan of meme coins in the world, but I do have to acknowledge that there’s a huge market appetite for them anyway. From my perspective, whether you agree or disagree, what I kind of foresee, what I kind of predict, is a shift that’s going to pivot out of meme coins, SUI meme coins, in the context of this discussion, but we’re going to see a pivot out of meme coins more into SUI airdrops and gaming.
Here’s one example of an up-and-comer that nobody’s really talking about yet, but I think is going to be pretty big. Be pretty big. That’s society with an X that’s a big game that’s coming up pretty soon. So keep an eye out for that.
Get an email whenever Income Wallet publishes.
NOTE: This article is created by using Altcoin Buzz’s “IF YOU HOLD SUI I GOT NEWS FOR YOU!!! (ACT NOW)” after getting the whole permissions.
Why Writing Instead of Video?
In today’s busy world, there is no equal life quality and standards between generations. One of them is internet accessibility. Thanks to these kinds of posts, we will provide people reaching the whole useful content via Medium.
IF YOU HOLD SUI READ ALL NEW RELEASED PROJECTS was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
from The Capital - Medium https://ift.tt/t2OYm7b
0 Comments