Prime

Foundation

<ul class="wp-block-list news-points">
 <li><strong>Sui Foundation selects Coinbase Prime to manage community treasury.</strong></li>
 <li><strong>Sui Network nears Avalanche in Total Value Locked (TVL), now close to $1 billion.</strong></li>
 <li><strong>SUI price has dropped 4.5% in the last 24 hours, currently trading at $1.58.</strong></li>
</ul>
<p>The Sui Foundation <a href="https://x.com/SuiFoundation/status/1838284933502242895" target="_blank" rel="noopener noreferrer nofollow">announced over X</a> that it has chosen Coinbase Prime for custody and treasury management services for the Sui Network. This move means that Coinbase and BitGo will now oversee community assets.</p>
<p>Notably, this partnership comes as part of a broader effort to secure and streamline the management of community funds. Coinbase Prime’s involvement can boost the Sui Network’s credibility, potentially drawing more institutional investors to the SUI ecosystem.</p>
<h2 class="wp-block-heading" id="h-sui-tvl-reaches-an-all-time-high-nbsp">Sui TVL Reaches an All-time High&nbsp;</h2>
<p>At the same time, the Sui Network has seen a major increase in <a href="https://defillama.com/chains" target="_blank" rel="noopener noreferrer nofollow">total value locked (TVL)</a>, nearing the $1 billion mark, a 40% increase in the last month. Currently, Sui holds over $900.13 million in TVL, closing the rank to Avalanche ($968.23 million) and Polygon ($905.84 million).&nbsp;</p>
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 <figure class="aligncenter size-full"><img decoding="async" width="512" height="275" src="https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368.png" alt="" class="wp-image-504060" srcset="https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368.png 512w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368-300x161.png 300w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368-380x204.png 380w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368-159x85.png 159w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368-440x236.png 440w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368-414x222.png 414w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368-307x165.png 307w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368-377x202.png 377w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368-123x66.png 123w, https://coinedition.com/wp-content/uploads/2024/09/unnamed-2024-09-24T174827.368-129x69.png 129w" sizes="(max-width: 512px) 100vw, 512px">
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<p>This solidifies Sui’s position as a major player in the Layer-1 blockchain space. The rapid growth in TVL reflects rising interest in the Sui Network,…</p>
<p>The post <a href="https://coinedition.com/coinbase-to-safeguard-sui-treasury-as-tvl-nears-1b/" rel="noopener noreferrer nofollow">Coinbase to Safeguard Sui Treasury as TVL Nears $1B</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Coinbase to Safeguard Sui Treasury as TVL Nears $1B

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