2024

Chirp

DeFi

<h4>Are you ready for the next <a href="https://www.altcoinbuzz.io/?s=blockchain" target="_blank" rel="noopener">blockchain</a> that’s about to melt faces? The chain’s mainnet is not even a year old, and it didn’t stop building. It keeps growing stronger by the minute. Its main focus is gaming.&nbsp;</h4> 
However, it’s also making waves in DeFi. With only 29 listed DeFi projects on <a href="https://defillama.com/chains" target="_blank" rel="noopener">DeFiLlama</a>, it owns the 12th spot in TVL of all chains.&nbsp; Add DePIN and RWA to these, two very popular narratives. Here you have a <a href="https://youtu.be/wbjJn2uUBX0?si=CCk_v6MAhmc2Y6oi&amp;t=1" target="_blank" rel="noopener">hot prospect</a> for this bull run.&nbsp;This chain covers all the right bases. It is ready to start melting faces, once the bull run starts in all earnest. Say hi to this altcoin: Sui. 
<h5>What Is Sui?</h5> 
<a href="https://sui.io/" target="_blank" rel="noopener">Sui</a> is a layer 1 blockchain that has a few things going for itself. For starters, it uses the Move coding language. Sui’s founders worked at Diem, the blockchain project by Meta. That’s where they developed Move.&nbsp;Move’s smart contracts and custom transactions make for fast transactions and instant finality. The finality means that you can’t reverse a transaction anymore. Furthermore, transaction costs are low on Sui.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/tencentcloud?ref_src=twsrc%5Etfw">@TencentCloud</a> is deepening its relationship with Sui by launching an RPC node to provide high-performance blockchain infrastructure services to Web3 developers, and paves the way for opportunities in <a href="https://twitter.com/hashtag/GameFi?src=hash&amp;ref_src=twsrc%5Etfw">#GameFi</a>! 
 Read more in our latest blog: <a href="https://t.co/gQjgRgtW4q">https://t.co/gQjgRgtW4q</a> 
 — Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1773516910745006451?ref_src=twsrc%5Etfw">March 29, 2024</a>
</blockquote> 
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Gas fees on Sui are around 0.002797 $SUI or 2,797,000 MIST. That’s what we call the smaller $SUI altcoin denominations. So, with a current $SUI price of $1.94, that’s $0.0054 per transaction. However, the current <a href="https://suivision.xyz/" target="_blank" rel="noopener">reference gas price</a> is 750 MIST. That’s peanuts. The older explorer shows this number, but the new one doesn’t. However, these are some of the cheapest fees in the business. So, even when the $SUI altcoin price goes up, the transaction fees stay low. 
Fast and cheap transactions are also exactly what you need for <a href="https://sui.io/intro-to-sui#gaming" target="_blank" rel="noopener">gaming</a> or finance. Now, these are two verticals where Sui shines.&nbsp; Another area where Sui is at the forefront is privacy. Their <a href="https://youtu.be/60dwcV8Xogg?si=_mC9yhtL0PAroUM6" target="_blank" rel="noopener">zkLogin</a> offers the option to sign in to Web3, with Web2 credentials. For example, with Facebook or Google. It’s fast, secure, and as easy to use as you can imagine.&nbsp;It’s also a familiar way of signing in for everyone. In other words, a great way to onboard Web2 users to Web3 Dapps.&nbsp; 
It uses zero-knowledge tech, which means that it’s private. To clarify this, your credentials are not strewn all over the place. Something that can easily happen with Web2 security measures. So, now that I refreshed your memory on Sui, it’s time to take a look at its ecosystem. 
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 We're thrilled to announce a partnership between Sui and <a href="https://twitter.com/RevolutApp?ref_src=twsrc%5Etfw">@RevolutApp</a> to turbocharge blockchain education and adoption worldwide. 
 Together, we're launching an innovative Learn course within the Revolut app. <a href="https://t.co/Bv8mXF806d">https://t.co/Bv8mXF806d</a> <a href="https://t.co/87URx8NfJd">pic.twitter.com/87URx8NfJd</a> 
 — Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1772995765700288902?ref_src=twsrc%5Etfw">March 27, 2024</a>
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<h5>Sui’s Ecosystem</h5> 
With its breakthrough innovations, Sui is building a solid ecosystem. Some of its main use cases are in gaming, finance, and commerce. So, I will highlight a few handpicked projects on Sui for you. They will cover various verticals, which highlights Sui’s variety. For example: 
<h6>Sui Ecosystem Projects</h6> 
<ul> 
 <li>Bluefin: This <a href="https://bluefin.io/" target="_blank" rel="noopener">platform</a> offers perpetual trading. This is a favored form of trading in the crypto space. The perps are derivatives that don’t have an expiry date. This allows you to <a href="https://trade.bluefin.io/ETH-PERP" target="_blank" rel="noopener">play the market</a> with what you think the future price will be of the derivative. Bluefin has already released its V2 platform. It doesn’t have a token yet. So, here’s an a<a href="https://forum.bluefin.io/t/epoch-16-trade-and-earn-program-and-bluefin-nexus-pools/77" target="_blank" rel="noopener">irdrop alert</a> with the platform’s ‘Trade and Earn’ program. It also offers Spot trading with Sui’s on-chain orderbook. Furthermore, it’s a wallet-less trading experience.&nbsp;</li> 
 <li><a href="https://www.cetus.zone/" target="_blank" rel="noopener">Cetus</a>: Here we have a DEX with Sui’s third largest TVL. It’s also a concentrated liquidity protocol. This means that it allocates liquidity within a specific price range. It allows you to <a href="https://cetus-1.gitbook.io/cetus-docs/guides/how-to-add-liquidity" target="_blank" rel="noopener">earn transaction fees</a> more efficiently.&nbsp; Cetus also offers low slippage.</li> 
 <li><a href="https://www.sudo.finance/#sudo-features" target="_blank" rel="noopener">Sudo Finance:</a> With Sudo, we enter RWAs (tokenized Real-World Assets) and synthetics. So, we’re still heavy into DeFi with Sudo Finance. Synthetics expose you on a chain to RWAs. For example, <a href="https://app.sudo.finance/trade" target="_blank" rel="noopener">stocks</a>, commodities, or fiat currencies. However, you don’t own the underlying assets. Synths mimic them.</li> 
 <li><a href="https://sui-deepbook.com/" target="_blank" rel="noopener">Deepbook:</a> This is a liquidity layer for Sui. It’s a decentralized central limit order book. So, it’s DeFi, but you trade like a CEX. It’s Sui’s native orderbook, built by Mysten Labs. It doesn’t have an end-user interface for token trading.</li> 
 <li><a href="https://chromewebstore.google.com/detail/sui-wallet/opcgpfmipidbgpenhmajoajpbobppdil" target="_blank" rel="noopener">Sui Wallet:</a> This is Sui’s native wallet built by Mysten Labs. They seem to be working on developments, maybe a mobile version is coming?</li> 
 <li><a href="https://youtu.be/gpJy_Wr3tYQ?si=TvOngGClq7E7uKBG" target="_blank" rel="noopener">Fallen Arena:</a> This brings us to the gaming space on Sui. Fallen Arena is part of the E4C gaming series by Ambrus Studios. You can use all in-game assets, in the form of NFTs, in the follow-up game, Final Salvation. However, that’s still under development.</li> 
</ul> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4e2.png" alt="📢" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: Sui has surpassed $700,000,000 in Total Value Locked (TVL), achieving this momentous milestone in under 11 months since Mainnet launch. 
 Data via <a href="https://twitter.com/blockvisionhq?ref_src=twsrc%5Etfw">@blockvisionhq</a>'s <a href="https://t.co/RS6qLQSJ8Q">https://t.co/RS6qLQSJ8Q</a>. <a href="https://t.co/xUSxkaVGpv">pic.twitter.com/xUSxkaVGpv</a> 
 — Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1773044236360827220?ref_src=twsrc%5Etfw">March 27, 2024</a>
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<h5>Sui and DePIN</h5> 
So, it’s time to take a look at some Sui DePIN projects: 
<ul> 
 <li><a href="https://www.karrier.one/" target="_blank" rel="noopener">Karrier One:</a> This is a decentralized mobile network. Its goal is to make wireless connectivity available in underserved communities. This should result in providing telecommunications and phone numbers to users within Web3. As the cherry on top, Karrier One offers money transfers by phone number. This eliminates the need for a bank account.</li> 
 <li><a href="https://chirptoken.io/" target="_blank" rel="noopener">Chirp:</a> Chirp is also active with decentralized connectivity. The users own the data, not corporations. You may have heard of them in case you took part in the Common Wealth quests. It’s one of the projects backed by Common Wealth, and it doesn’t have a token yet. Chirp wants to be the global provider of IoT and mobile services. It’s all set to connect the largest amount of data to a blockchain.</li> 
 <li>If you’re into meme coins, Sui also has them. You can trade in and out of, for example, <a href="https://fudthepug.com/" target="_blank" rel="noopener">Fud the Pug</a>. <a href="https://www.coingecko.com/en/coins/fud-the-pug" target="_blank" rel="noopener">$FUD</a> is up by 424% over the last 30 days.</li> 
</ul> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/ChirpDeWi?ref_src=twsrc%5Etfw">@ChirpDeWi</a> shares why DePIN is better on Sui<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/F39BnwRaVK">https://t.co/F39BnwRaVK</a> 
 — Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1773749479864438920?ref_src=twsrc%5Etfw">March 29, 2024</a>
</blockquote> 
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Which, by the way, is also showing some great performance recently. The current <a href="https://www.coingecko.com/en/coins/sui" target="_blank" rel="noopener">$SUI</a> price is $1.94, and it seems there’s plenty of upward movement still possible for this altcoin. Are you active in any of Sui’s ecosystem projects? Did I mention your favorite Sui project? If not, let me know which Sui project you would like to hear more about. 
And if you like what you’ve heard so far, then download the Sui Wallet <a href="https://bit.ly/Sui-Browser-Wallet" target="_blank" rel="noopener">here</a>. 
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<h6>Disclaimer</h6> 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Sui. Copyright Altcoin Buzz Pte Ltd. 
The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/sui-1-altcoin-of-the-2024-crypto-bull-run/">Sui: #1 Altcoin Of The 2024 Crypto Bull Run?</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Sui: #1 Altcoin Of The 2024 Crypto Bull Run?

Altcoin Buzz

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