While everyone talks about Bitcoin breaking beyond $123,000, the SUI blockchain is quietly making its own big move. Its native tokens have exceeded 300% in the past year, and some projects in the ecosystem are growing even faster.
Let’s take a quick look at three promising Altcoins from the SUI network.
Blue fin (blue)
Bluefin is currently the third largest distributed exchange (DEX) on a SUI network, by Total Value Locked (TVL).
In June alone, Bluefin has recorded a permanent trading volume of over $1 billion, and the platform offers some of the best Stablecoin yields on the market, offering more than 8% on certain deposits. Interestingly, SUI processed more Stablecoin transactions than Solana for the first time last month.
Related: June CPI report is getting bigger as inflation heats up, with codes surge forward
Source: CoinMarketCap
Bluefin Token’s Blue was launched for $0.26, but is currently trading under $0.10, with increased usage and offering what some would consider as a discount opportunity given future product releases.
On-network (SUL)
Analysts said the network’s native token itself is incomplete without the SUI. Tokens are one of the most powerful performers in this market cycle, increasing by nearly 80% over the past three months alone.
SUI’s Defi sector is expanding rapidly, with services such as Dex’s aggregators and Stredhold’s decentralized Bitcoin (TBTC) products gaining traction. On the first day, TBTC saw almost $1 million in total (TVL).
Source: CoinMarketCap
With SUI’s current price just below $4 and still below the highest high of $5.35, analysts said it could soon regain those highs and surpass those highs as Defi and NFT activities continue to build.
Double up (up)
The new addition to the SUI ecosystem is twice as high. The project’s native tokens were launched for $0.49 and have doubled since, increasing their profits by 100% in three months.
Related: Bitcoin leads, but altcoins line up for breakout
Despite having a relatively low market capitalization of around $15 million, Double Up has processed more than $188 million in transactions and recently introduced its own Stablecoin, UPUSD, which has provided users with additional purchasing power on the platform.
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