Whys sui ecosystem booming? | Bitcointalksearch.org

TastyChillySauce00

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Quote from: taufik123 on October 11, 2024, 02:51:11 PM

SUI is still starting its trend again after a long time of not being hyped and defeated by SOLANA and BASE,
but now the SUI Network is also starting to get crowded with the emergence of many memecoins.

The attraction is also the low fees for each trade made, and it is now very easy to create a memecoin project.

Not only that, Now the SUI Ecosystem is also starting to grow with an increase in transaction volume and also an increase in the number of Decentralized Applications (dApps), with data supported by DefiLama revealing that the increase in SUI volume increased by around 50% on SUI Dex transactions and weekly transactions reached around $902 Million.

Seems like most of transactions coming from meme coins, as always meme coin trend will always comes out of nowhere especially the case with SUI.
I've seen plenty of memes that are reaching ATH in SUI.

but so far SUI still below L2 which means there's still more room to grow, I personally believe that if SUI keeps up with the trend, they will eventually surpass the L2, but knowing that SUI uses MOVE language, I doubt the ecosystem can grow that much without SUI incentivizing development of smart contract in the ecosystem since developer will more likely spend much time developing the contract code instead of using existing library as far as I know.

a glimpse to SUI's memes :

24h gain is great, but the market cap is not that big it seems.solana's memes still dominates.

taufik123

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SUI is still starting its trend again after a long time of not being hyped and defeated by SOLANA and BASE,
but now the SUI Network is also starting to get crowded with the emergence of many memecoins.

The attraction is also the low fees for each trade made, and it is now very easy to create a memecoin project.

Not only that, Now the SUI Ecosystem is also starting to grow with an increase in transaction volume and also an increase in the number of Decentralized Applications (dApps), with data supported by DefiLama revealing that the increase in SUI volume increased by around 50% on SUI Dex transactions and weekly transactions reached around $902 Million.

https://defillama.com/dexs/chains/sui

For TVL, SUI is now up to $1.05 Billion and this proves that SUI is starting to rise slowly and puts SUI in the 7th rank as the top blockchain network based on TVL.

https://defillama.com/chains

MAAManda

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Quote from: FortuneFollower on October 11, 2024, 04:37:02 AM

Quote from: MAAManda on October 11, 2024, 04:30:57 AM

There's already a topic with the same discussion here, you can visit it and see the important references that you can get, I also made a response in that topic. I still have the same opinion on $SUI, they're getting better because of 2 things going on there:

1. $USDC is already available on the $SUI network, which strengthens the project in terms of protecting its users from a lack of liquidity.
2. The current meme trend happening on the $SUI network.

Yeah, the meme craze is going from a chain to a chain, sparking debates and funds going all around into coins with dogs and cats Grin

I hope SUI will become even better in the time to come. Thanks for the references for the OP.

You're welcome, mate. All networks have their own meme trends, what makes the difference is how the trend plays out on one network and other network. On the Sui network, sudeng (HIPPO) leads the MC race, followed by BLUB (BLUB) and Fud The Pug (FUD). The projects still look so small on the MC side, that's why this category is hot on the Sui network. To see the full details, you can visit the Coingecko page.

FortuneFollower

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Quote from: MAAManda on October 11, 2024, 04:30:57 AM

Quote from: Iamcrypticguy on October 10, 2024, 12:42:55 PM

Hey everyone, Sui has been on a rollercoaster lately, recently hitting over $2 in price. Anyone familiar with the Sui ecosystem—what do you think is causing this? I'm noticing a correction right now, and once it's over, I plan to jump in by any means possible either by giveaways or DCA. Anything 😀

There's already a topic with the same discussion here, you can visit it and see the important references that you can get, I also made a response in that topic. I still have the same opinion on $SUI, they're getting better because of 2 things going on there:

1. $USDC is already available on the $SUI network, which strengthens the project in terms of protecting its users from a lack of liquidity.
2. The current meme trend happening on the $SUI network.

Yeah, the meme craze is going from a chain to a chain, sparking debates and funds going all around into coins with dogs and cats Grin

I hope SUI will become even better in the time to come. Thanks for the references for the OP.

MAAManda

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Quote from: Iamcrypticguy on October 10, 2024, 12:42:55 PM

Hey everyone, Sui has been on a rollercoaster lately, recently hitting over $2 in price. Anyone familiar with the Sui ecosystem—what do you think is causing this? I'm noticing a correction right now, and once it's over, I plan to jump in by any means possible either by giveaways or DCA. Anything 😀

There's already a topic with the same discussion here, you can visit it and see the important references that you can get, I also made a response in that topic. I still have the same opinion on $SUI, they're getting better because of 2 things going on there:

1. $USDC is already available on the $SUI network, which strengthens the project in terms of protecting its users from a lack of liquidity.
2. The current meme trend happening on the $SUI network.

Patikno

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Quote from: Iamcrypticguy on October 10, 2024, 12:42:55 PM

Hey everyone, Sui has been on a rollercoaster lately, recently hitting over $2 in price. Anyone familiar with the Sui ecosystem—what do you think is causing this? I'm noticing a correction right now, and once it's over, I plan to jump in by any means possible either by giveaways or DCA. Anything 😀

I don't really understand what Sui Network is trying to build, but from what I've heard lately, they have some good development going on and there's also some memecoin hype out there. Memecoin helps this network to be more known by many people, I think that's the reason why the price of this project's token can be so high lately.

malcovi2

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Quote from: TastyChillySauce00 on October 10, 2024, 09:34:36 PM

honestly I don't really understand about SUI hype, it just comes out of the blue and everyone suddenly saying that the ecosystem is HYPE and the meme over there are making it big.
but seeing in dexscreener, the 24h volume still around $100m which still fall short compared to the like of BASE (an L2 which supposed to be lower than popular L1). but I guess it's because SUI hype is still new.

so really there's no obvious reason as to why SUI suddenly become the hot topic and retouched ATH again Grin

. I guess it's just a trend that comes out of nowhere.

The current hype is people making money from gambling on shitcoins. People are just hoping from a new chain to another

TastyChillySauce00

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Leading Crypto Sports Betting & Casino Platform

honestly I don't really understand about SUI hype, it just comes out of the blue and everyone suddenly saying that the ecosystem is HYPE and the meme over there are making it big.
but seeing in dexscreener, the 24h volume still around $100m which still fall short compared to the like of BASE (an L2 which supposed to be lower than popular L1). but I guess it's because SUI hype is still new.

so really there's no obvious reason as to why SUI suddenly become the hot topic and retouched ATH again Grin

. I guess it's just a trend that comes out of nowhere.

Iamcrypticguy

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Navigating the Crypto world & Holding BGB Along..

Hey everyone, Sui has been on a rollercoaster lately, recently hitting over $2 in price. Anyone familiar with the Sui ecosystem—what do you think is causing this? I'm noticing a correction right now, and once it's over, I plan to jump in by any means possible either by giveaways or DCA. Anything 😀

Topic: Whys sui ecosystem booming? (Read 84 times)