4 Outstanding SUI Ecosystem Altcoins With EASY 10x Potential

The Sui Network and the Sui ecosystem are on fire. Sui is currently holding its Basecamp in Dubai on 1st and 2nd of May. With all the news and activity going on there, it wouldn’t surprise me if this ignites the fire even more. Before Basecamp started, there was already exciting news for Sui. Some Sui ecosystem projects also showed some interesting news tidbits. So, no wonder that the Sui ecosystem is up by 50% to 60% or more over the last 14 days.

So, let’s get straight to it and see what the fuss about Sui Network and the Sui ecosystem all is about. You can also check our recent video on the Sui ecosystem.

Sui Network ($SUI)

The big recent news for the Sui Network was their connection with Pokémon. A new update to Pokémon HOME’s privacy policy lists Parasol Technologies as a new developer. Now, Parasol is part of the Mysten Labs stable of projects. That’s the team behind Sui. The official Sui Foundation blog confirmed (and removed) Pokémon NFTs.

However, Pokémon itself came to the rescue. It announced that you can now collect digital souvenirs called Medals. A neat name for NFTs, so you don’t make a Web3 connection. Nonetheless, nothing has been officially confirmed by either Pokémon or Sui. Still, this was good enough to see the $SUI token soar by 67.5%.

But that’s not all, Backpack, the Solana wallet, has now integrated Sui Network. Both on mobile and their extension.

Furthermore, Sui’s DEX volume surged by no less than 245% during Q1. These are massive gains. Sui’s TVL went up by 16% during the last week and by 46% during last month.

BTCfi is also a ‘thing’ on Sui. This grew by 4x. You can natively stake your $BTC on Sui with Lombardi. On the other hand, Babylon is making Sui a BSN or Bitcoin Secured Network. Adding to the BTCfi growth of 4x during Q1.

The very latest news is that Sui is now integrating Stacks and $sBTC into its ecosystem.

Walrus ($WAL)

Next up is Walrus and it’s $WAL token. Walrus is about to change digital storage. Mysten Labs, the team behind Sui, is also behind Walrus. 

Now, Walrus also saw some recent big news. The Pudgy Penguins partnered with Walrus. The Pudgy Penguins are now storing all their stickers and GIFs on Tusky. In turn, Walrus powers Tusky. Here you can see them both together during the recent Token2049 in Dubai.

Last week, Walrus also partnered with LINE FRIENDS. It has a new game called ROOM. IPX, picked Walrus to store their digital assets for this game. IPX is the company behind LINE FRIENDS.

So, we see that the Walrus ecosystem is growing. 133 projects are built on Walrus, and currently 54 are active. That shows great potential. Sectors covered include, 

• Infra
• DeFi
• Gaming
• AI
• NFTs
• DePIN
• Memes

Source: X

Last week, Walrus reached its current ATH with 68 cents. So, the current $WAL price of 58 cents looks like a great entry.

Deepbook ($DEEP)

Deepbook ($DEEP) is my next pick. It’s the ‘invisible’ app on Sui. Yeah, you heard that right. As such, Deepbook doesn’t have an app. However, it powers almost all the DEXes on Sui. Once more, Mysten Labs is the team behind Deepbook. Like they also are with Sui and Walrus.

Deepbook offers the efficiency of an orderbook. It combines this with the transparency of a blockchain. So, Deepbook works with a CLOB (Central Limit Order Book). This offers a DeFi experience as if you were on a CEX. Check its vision here.

Thus, it offers censorship-free liquidity to Sui’s DeFi ecosystem. And we just saw that Sui’s DeFi ecosystem is growing quite a bit. Well, Deepbook is at the root of this. In mid-April, it released its V3.1 version.

Here are some of the Sui DeFi protocols that use Deepbook,

• Cetus Protocol.
• Turbos Finance.
• Suilend, it uses Deepbook as a liquidity layer.

Other protocols include Aftermath, Kriya, FlowX, Hop Aggregator, and 7k. More is in the pipeline.

The current $DEEP ATH is 34 cents. With the current $DEEP price at 19 cents, $DEEP sure looks good. It’s been one of Sui’s best performers.

Suilend ($LEND)

Suilend ($LEND) has really been on fire recently. During the last 14 days, it’s been up by 84.9%. Shortly after $LEND launched, it already reached its ATH of almost $4. Now it looks like it’s gaining momentum again with this price increase. The current $LEND price is 81 cents. So, this looks like an excellent entry point.

Suilend is also the leading protocol for Sui’s TVL. Only Navi Protocol comes anywhere near Suilend’s TVL. Cetus, third ranked by TVL on Sui, has almost two-thirds less TVL compared to Suilend.

Suilend is, at its origin, a borrowing and lending protocol. However, it now also offers an AMM with STEAMM and with SpringSui it offers LSTs. These are liquid staking tokens.

Now, Suilend had an airdrop at its token launch. However, right now, it’s in Season 2 for the next airdrop. Be active on Suilend and STEAMM and score daily points. The higher you are on their leaderboard, the bigger your airdrop will be.

So, that’s it for today’s insights on the Sui ecosystem. Which one is your favorite protocol, and have you used it? Let me know in the comments and take part in our lively discussions on X and Discord.

Disclaimer

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 accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from 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.

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