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What is SUI Crypto
Introduction
Ok, all right and today about SUI crypto all right, then. During this bull run it’s hot topic. SUI crypto was considered to be strong leader in Web3 sector in cryptocurrency world, so…
In this article about SUI crypto basics, token, blockchain, price and future. Of course, all are just my opinions.
As like always, please read, share and comment!
Let’s go.
What is SUI Crypto?
First of all, little bit about SUI crypto itself. SUI is a first layer blockchain platform. Similarly to Bitcoin, Ethereum and Cardano in the same layer. What is special about this platform is object-oriented approach – innovative approach in cryptocurrency world.
What is actually mean? I am explaining this as simple as possible. Everything in SUI network is treated as an object. The platform empower developers to create another assets types and protocols what would be integrated or interacting with one another. Make sense?
Of course, because one object in the network empower another one. This is the best way to develop strong ecosystem. How about that?
Let’s explore some more things like token and its supply.
A few Things about SUI Token
About Token
The SUI token is the native cryptocurrency of the Sui network. It serving as the lifeblood that powers the entire ecosystem. Total supply is 10 billion tokens.
Token is used in many cases like gas fee payments, utility across applications and governance. Consensus mechanism in SUI is delegated proof-of-stake (dPoS). Obviously about consensus mechanisms you can read in another article.
Next stop is tokenomics of project.
Tokenomics of SUI
OK, then what tokenomics is in SUI blockchain? In this project 50% of all tokens are for community. I would say it’s quite a lot, but it’s really smart move. We can really see how powerful can be community projects like memecoins. Even they are not really strong fundamentally. At least, most of them.
For investors and early contributors 34% of whole supply, because risk and involvement need to pay off. For sure. Last 16% is for Mysten Labs Treasury and community access programs.
In my opinion, tokenomics is really fair.
SUI Supply Strategy
SUI supply strategy is well-thought. Just be clear in this moment 3 billion tokens is circulating, so there is about 70% to realise in the future.
The whole strategy the best present graphics from SUI website.
Project will evolve and supply will be released strategically. This next May 2026 it would be available 4 billion tokens on the market. It would be 40% of all coins.
Tokens distribution is among groups interested and involvement into project. It’s clear, that project is taken serious and had strategy for next 10 years.
OK, I wrote that projects empower ecosystem. By the way, not only ecosystem, but right now about it.
What happen with SUI Ecosystem?
Based on Medium article I would say project ecosystem doing pretty well. Especially if we take in consideration that article were written almost 2 years ago.
Even though, in ecosystem you can find application like wallets – Suiet and Ethos wallets, DeFi apps, social apps and NFT marketplaces. Not so bad!
Still a lot of potential to grow and one more time it was 2 years ago, but let’s answer another question.
Is it anything special about SUI blockchain?
Let’s find out below.
Blockchain of SUI Crypto
In this section I am come back to blockchain, because I really feel I have to. I wrote about some features and so on, but… This blockchain achievements are pretty impressive.
This blockchain really rocks. Remarkable speed, high throughput, low costs, object-oriented design, easier developers experience. Isn’t all that sound great?
SUI design is really give this blockchain a lot of credit. Cost of transactions, speed and huge network throughput make me think what is the best use of this blockchain. Microtransactions, web3, DeFi or maybe all of that.
SUI performance is ground breaking. It’s awesome blockchain.
In one of the articles I wrote about trends in case of growth Solana and SUI. I compere both of them just to explore what perspective they have.
SUI versus Solana
In comparison transactions speed, transaction costs and adoption of users and developers on every field SUI is better. At least, I mean in this point.
Be just clear to be fair. When blockchain reach some adoption level then growth isn’t so fast. Solana did achieve that level before SUI and SUI is more on strong growth path.
For all those reasons and because of performance of SUI this project is better choice for developers and users.
SUI Crypto Price in Depth
In case of SUI it’s first cycle, because project is available on exchanges from May 2023. In May it will be 2 years. Not long.
I can’t write about previous cycle, indeed. I write things what I can see.
All Time Low (ATL) it was in October and it was price $0,36 per unit. In comparison to realise price it was $1,34 per coin.
At the beginning it was interest, then slow down and price bottom in All Time Low. From that moment till March 2024 price rose to $2. Just in a few month price hit 5 times evaluation. Ok, but then happen correction.
Price bottomed at $0,54 at August 2024 and from that moment is in quite strong bull run. Actual price is $3,54 per unit, but All Time High is $5,35 per unit. We are 35% from peak price.
Altcoin season is coming. Price will be rise for sure.
Future of SUI Crypto
We are about to see growth of 1-tier blockchain and there is nothing special about. Design, user-experience, development experience, community empowerment give very good perspective for the future.
I can’t forget about awesome performance and strategic supply realise. All this things together give me to think that this blockchain will be very strong blockchain in the future.
Who knows, maybe this bull run give credit to SUI. I would be not surprised at all.
Conclusion
SUI is project with a lot of perspectives. Simply, because it’s really fast, stable and cost-effective blockchain.
I would be not surprise if this blockchain will be heavily invested in this and next bull runs. My research give me clear indicators that this platform is simply awesome.
I have already explain my point of view through all this article.
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