Original title: “Solana’s Killer Narrative Works?” SUI Ecosystem Overview》
Original source: WOO Research
background
Since September, the market has almost only had two major focuses of attention. The first is the continuous iterative update of the meme track. Neiro is listed on Binance and continues to rise; the little hippo MOODENG has skyrocketed on Solana and Ethereum. Meme coins continue to create wealth effects.
The second focus is SUI. As a Layer 1 that appeared at the end of the last cycle, the token distribution method is different from the above-mentioned memes that focus on fair issuance of assets. It is the most criticized typical VC Token in this cycle.
However, the currency price of SUI has performed strongly recently, rising from US$0.76 in early September to as high as US$2.16, approaching a record high of US$2.18, a surge of approximately 185% in one and a half months.
This SUI hype was initiated by agencies and the narrative is about replacing Solana. The injection of funds into the public chain benefits not only the currency price, but also TVL, ecological projects and even memes.
What projects/currencies should we pay attention to in SUI? Let WOO X Research take you to find out.
Cetus
Sui is the largest DEX in the ecosystem, using a centralized liquidity protocol similar to Uniswap V3. Its products include DEX, liquidity pool, machine gun pool, income vault, Launchpad, and integrates the central limit order book DeepBook and Wormhole cross-chain bridge.
In terms of Launchpad, it provides an IDO launch platform for the Sui ecological plan, and holders of xCETUS can participate. CETUS, SUIA, and NAVX have all been oversubscribed in the past few times, which is an important factor for Cetus to occupy the leading position of DEX.
The current locked-up volume on the platform exceeds US$200 million, which is the fourth largest on SUI and has grown by 83% in the past month.
The price of the token CETUS has increased by 180% in the past 30 days. The current currency price is about 0.17, which is only one step away from the all-time high of 0.186. The current market capitalization is US$54.52 million, ranking 638 on Coingecko.
NAVI
The first native one-stop liquidity protocol on Sui, similar to Aave, provides lending services and currently supports Sui, vSui, NAVX, USDT, USDC, CETUS, WETH and other assets. The interest rate on stablecoin deposits is approximately 7%, while SUI is 4%.
At the same time, it is also the project with the largest amount of locked positions on SUI, with a growth of 52% in one month, and the amount is as high as 500 million.
However, the token price performance was not as eye-catching as the product. During the period when SUI surged, the token NAVI rose by more than 150% in 30 days, but it was still more than 100% away from the all-time high. Compared with SUI and Cetus Challenge The situation is different in the former high.
The current token price is about 0.15, a record high of 0.357, and the current market value is 36.62 million.
Scallop
The lending agreement on Sui completed a strategic financing of US$3 million in March this year, led by CMS Holdings and 6th Man Ventures. Other investors include Mysten Labs (SUI parent company), the aforementioned Cetus, and the well-known NFT whale dingaling and well-known Chinese KOL 0xSun are angel investors.
At the end of April, it was announced that it had received strategic financing from DWF Labs. DWF Labs will serve as Scallop’s main liquidity provider on various centralized trading platforms and will also support over-the-counter (OTC) transactions.
The token SCA has been falling slowly since its launch. It has improved slightly in the past month, rising by 52%, but it is not as high as the increase of SUI and the above-mentioned currencies.
The SCA token price is about 0.376, a record high of 1.28, and the current market value is 20.34 million.
The following introduces the meme coins on SUI.
HIPPO
The prototype of the concept is MOODENG, the Thai Internet celebrity hippo “Bounce Pig”. The concept of meme currency first occurred on the Solana chain. The Sol hippo has a maximum market value of US$330 million. Recently, hippos on Ethereum also donated tokens to Vitalik. Vitalik chose to burn, thus driving the increase, rising 10x in four days.
HIPPO is the little hippo on SUI. The current currency price is about 0.0148, a record high of 0.01848, and the current market value is 148 million, with an increase of 17% in the past seven days.
AAA
The image is a black cat, and the concept is an emoticon package on Sui Name Service. It is a rare meme coin on SUI that is not related to marine life. The community uses the well-known meme coin Popcat on Solana as a benchmark for expectations.
The current currency price is about 0.0019, a record high of 0.00253, with an increase of 293% in the past seven days, and the current market value is US$19 million.
BLUB
The image is a fish with the face of Pepe. It was once the number one meme coin on SUI, and it was not surpassed until the emergence of HIPPO.
Interestingly, BLUB’s token was issued on September 1st, which is similar to the rising point of SUI. It also rose from a market value of US$3.5 million at the opening to a maximum market value of US$48 million, achieving an 11-fold increase.
The current currency price is about 0.0(6)123, a record high of 0.0(6)161, with a decline of 9.8% in the past seven days, and the current market value is US$40 million.
This article is from a submission and does not represent the views of BlockBeats.