Today we explore SUI's price and its chances of repeating Solana's success. We examine key events in the SUI ecosystem and their potential impact on future growth.
How Events Impacted SUI
The recent $220 million hack of the Cedus protocol adversely affected the SUI ecosystem. However, SUI itself remained secure. The Miston Labs team quickly froze $160 million and offered a $6 million bounty for the return of remaining funds. Analysts noted, 'We don't think this cools off SUI's momentum.'
Technical Achievements and Liquidity
SUI's technological platform has received enhancements, ensuring transaction speeds are 30% to 65% faster due to Move VM 2.0. Liquidity is also growing rapidly: SUI supports Axelar and LI.FI bridges, with total value locked now at $1 billion, doubling in two months.
Threats and Opportunities for the Ecosystem
Despite the threat from the hack, the SUI ecosystem remains active. Projects like Walrus Protocol and DeepBook are gaining developer and user attention. The integration of SUI into Microsoft Fabric is described as 'a pretty big news story,' reinforcing confidence in SUI's long-term prospects.
While SUI may not replicate Solana's 2021 surge exactly, its integrative strengths, increasing liquidity, and active ecosystem create favorable conditions for further growth.
