jakiro
Author: Clibmer, Bitchain Vision Realm
Recently, the L1 public chain SUI project token SUI can be described as a big rebound, which has increased by more than 140%a week, which can be described as unique during the period when the cottage coins are generally fallen.Such a dazzling performance triggered the real value geometry of the community, and the founder of the encrypted venture capital investment MEChanism Capital Lianchuang and Goldman Sachs, and the founder of the macro -research institution Real Vision issued the issue of the market value comparison between SUI and SOL.
It can be seen that investors do not want to miss the next public chain project such as Ethereum, Solana, and Polygon.This article will also take this opportunity to re -examine the SUI and explore the reasons behind its tokens.
The 140%increase in a weekly cut, highlighting the performance of the community expectations
The English pronunciation of the name SUI is SWē, which derives the words that expressed water elements in Japanese.
In March 2022, Mysten Labs, a Web3 infrastructure startup founded by 4 former META engineers, announced its Layer 1 public chain named “Sui”.Mysten Labs said that SUI is a blockchain network that does not require permitted equity (POS), which theoretically there is no limit on the throughput of throughput per second.The network will also support smart contract development through MOVE programming language, so that developers can build decentralized applications on SUI.
The design of SUI is to achieve horizontal expansion, which can support diverse DAPP development at high speed and low cost.Its goal is: to deploy decentralized applications (DAPP) through blockchain competitors such as Ethereum and other blockchain competitors, and “lead the next batch of one billion users to Web 3”.
The development team of the public chain SUI and the Web 3 infrastructure company Mysten Labs also raised 336 million US dollars in 2021 and 20122. At that timeCrypto, Binance Labs, Franklin Templeton, Coinbase Ventures and other well -known institutions.
In May 2023, SUI officially launched the exchange, and the project tokens fell to nearly $ 0.37 since then.However, with the advent of a new round of bull market, SUI also ushered in a wave of outbreaks, and rose to the highest price of $ 2 at the end of March this year, an increase of about 440%from the lowest point.However, it soon fell along with the cooling of the encryption market, a minimum of minimum to $ 0.46, a decline of 77%. Therefore, from the perspective of the rising decline, its overall income was manifested in similar projects.
However, the recent SUI has exploded.
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From the price trend of the SUI on Coinmarketcap, it can be seen that the price of SUI came to the $ 0.46 position at a phased low on August 5, and then ushered in a sharp rise, and it rose to stage high on August 12 to a high stage high.Point $ 1.12.In just one week, the SUI increased by 143%.
This increase is not only the first in similar projects, but also the best in the current situation where the cottage is generally plummeted.At the same time, the performance also attracted heated discussions in the community, and some even regarded it as the next Solana killer.
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Community member
For such views, Andrew Kang, co -founder and partner of crypto venture capital company MeChanism Capital, said he did not think that the market value of SUI would reach the level of SOL.Raoul Pal, the founder of Real Vision, a former Goldman Sachs and Macro -research institutions, also said that if SUI proves that it is worth becoming the next popular, it needs to be effectively compared with SOL by breaking the downlink trend.
Behind the rise: Internal and external force due to common strength
Regarding the rise of SUI, Andrew Kang, co -founder of MeChanismCapital, took the lead in giving his own opinions and said that SUI had multiple bullish signals.Kang listed five reasons for supporting this prediction:
1. Raoulpal, a member of the Consultant Committee, published a series of posts that support SUI;
2. There is a large -scale off -site transaction demand on the market;
3. Despite the large -scale unlocking, the holder remains relatively strong;
4. The price trend of SUI is positive and there is no callback;
5. Recent MYSICETI performance upgrade may bring interesting new applications.
In the author’s opinion, SUI suddenly ushered in an outbreak, and behind it was the result of the joint efforts of the multiple factors of the internal and external.
First of all, as far as it is concerned, the SUI positioning is the basic layer of the web3, and it is also committed to building an underlying facility of encrypted games.SUI’s TVL has continued to grow since October last year. At present, the data is about $ 633 million.The project ecology has reached 86, and the proportion of TVL over 10 million projects accounts for nearly 10%.
On the other hand, the SUI project is frequent.In early August, Mysten Labs announced the launch of a new consensus engine MysticeTi, which can reduce the delay of the SUI blockchain to a certain extent; in July, SUI integrates the blockchain node operator of Amazon network services;Copper reached cooperation.
In terms of time relationship, the direct reason for the recent rise of SUI is that the overall encryption market has recovered, and the price of BTC has risen.On August 8, the BTC rose about 12%throughout the day, while the SUI rose up to 0.86 US dollars on the same day, an increase of about 40%.Since then, the market has shocked slightly, but the SUI continues to rise.
In addition, SUI’s continued rise was also indirectly affected by the community shouting order and MeChanismCapital co -founder Andrew Kang to watch the bullish speech.After the remarks were issued on the morning of August 12, the SUI rose nearly $ 1.117 of a phased high at the afternoon and evening of the day.Since then, there has been a callback. As of the writing, the SUI price is $ 0.93.
On the news, the greatest benefit is August 7, and the grayscale is an encrypted investment trust service launched by SUI.As of August 14, Grayscale Sui Trust’s asset management scale (AUM) of Gray SUI Trust products exceeded $ 650,000, and its net asset value per share rose to nearly 15 US dollars.
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The Bitget Research Institute also issued a statement saying that before the significant increase in the SUI unclean contract, the number of contracts has risen from the low position, indicating that the hot money has poured in.
In addition, on July 8th, OKX and SUI cooperated to make activities while learning, which also improved its influence and liquidity for the indirectly improvement of the SUI project.
The above -mentioned positive influences that are summarized after the rise of the SUI have not become a direct factor for the SUI outbreak.For example, on August 13, CoinList launched a pledged fund. The first five types of encrypted assets supported include SUI, and it will also provide the United States to provide investors with passive asset passive income services.
In addition, ZAN, a web3 brand of Ant Digital, announced a cooperation with Mysten Labs. ZAN will provide technical support for Mysten Labs’s KYC infrastructure and RPC node service.In the Q1 stage last year, Mysten Labs announced a cooperation with Alibaba Cloud and Tencent Cloud.
Conclusion
The rise and fall of a certain project in the crypto market in the short term is a normal phenomenon. What is really worthy of attention is whether the project itself hasLong -term valueEssenceJust like Ethereum, Solana, Toncoin, with market popularity and moat.Judging from the current performance of the SUI, it is indeed the hope of investors at the moment when the blue -chip cottage is generally sluggish, but it is only early to see it as a Solana killer.Therefore, as the senior executive of Goldman Sachs said, it was possible to compare with SOL when SUI completely broke the downward trend.
