Sui (SUI) hit a new all-time high (ATH) of $2.38 on Wednesday following Donald Trump’s victory in the US presidential election. The surge was aided by a massive increase in trading volume, which reached $2 billion.
However, as of Thursday, SUI’s price has fallen slightly to around $2.24, but still reflects strong growth. The price increase is driven by more users interacting with the SUI blockchain and growing interest in the crypto ecosystem.
SUI stock started to rise earlier this week, finding support at $1.79 on Monday. Subsequently, the stock rose more than 32.7% to a new high.
In addition to the price increase, SUI’s total value locked (TVL) also increased from $892.98 million on Oct. 28 to $1.09 billion on Thursday, according to data from DefiLlama.
In addition to this, SUI’s daily trading volume also increased significantly, from $432.9 million on Saturday to $2 billion on Wednesday.
The following is a collection of Sui’s recent growth experiences:
Sui mainnet has undergone three important iterative updates in October. According to the network update schedule, developers can know the update frequency and time of the development network, test network and main network in advance, so as to quickly synchronize and update. Currently, Sui network has been updated to: development network V1.37.0, test network V1.37.1, main network V1.36.2, and consensus round detection of peer nodes is enabled on the main network.
As Web3 expands and matures, it is particularly important to break down barriers between major ecosystems and allow assets and data to flow freely. Sui Bridge is a native solution that was launched on the Sui mainnet on September 30. The launch of Sui Bridge is an important moment in Sui's interoperability journey, which minimizes trust in asset transfers between Ethereum and Sui. Sui Bridge currently supports ETH and WETH transfers between Sui and Ethereum, and will expand support for more assets and functions in the future.
On October 9, native USDC was officially launched on the Sui mainnet. As one of the mainstream stablecoins, USDC has injected stable value transfer functions and liquidity into the Sui ecosystem, helping Sui to further develop and continue to promote the future of the decentralized Internet.
At the same time, the cross-chain transfer protocol CCTP is about to be launched, providing stronger support for the interoperability of USDC on Sui. CCTP allows USDC to flow efficiently between various supported blockchains, including Sui, providing developers with a more secure and composable cross-chain transfer function.
