The price of SUI on the Sui platform has significantly increased, crossing the $2 mark. This is attributed to a sharp rise in transaction volumes and ecosystem development.
Transaction Volume Growth on Sui Blockchain
Between October 3 and October 5, the daily transaction volume on the Sui network increased more than tenfold. By October 5, the total number of transactions surpassed Solana, reaching 3.5 million transactions per day.
Technological Advancements of Sui Blockchain
In August 2024, the Sui blockchain implemented a major upgrade called 'Mysticeti,' which significantly improved transaction speed and efficiency. This led to increased network usage and contributed to the token's price rise.
Strategic Partnerships and Ecosystem Expansion
The Sui network is expanding its ecosystem through strategic partnerships and new developments. Mysten Labs introduced the SuiPlay0x1 console, and Circle integrated the USDC stablecoin into the network, enhancing the growth of the DeFi sector.
With continuous innovation and rising adoption, Sui is becoming a significant player in both DeFi and Web3 gaming.