Despite the current crypto market situation, Sui keeps delivering updates and positive news. It even manages to break new records.
So, let’s take a closer look at what has been going on with Sui and its ecosystem.
Sui already has various stablecoins on its chain. There’s for example,
Now, Sui welcomes another native stablecoin to its network and ecosystem. That’s the $USDsui stablecoin by Bridge. In turn, Bridge is part of the greater Stripe family. Stripe is a financial technology company that offers payment processing. Earlier this year, in February, it acquired stablecoin platform Bridge. This deal was finalized in mid-October. Bridge is active on various other platforms. For instance, Phantom, Hyperliquid, or MetaMask. This allows $USDsui to be interoperable. Not only across Bridge’s ecosystem, but also with other stablecoins powered by Bridge.
This is a multipurpose digital dollar across Sui’s ecosystem. $USDsui will power Sui into the next growth phase. It’s a compliant stablecoin solution that should fit flawlessly into the Genius Act. This act creates a federal framework for regulating payment stablecoins.
Institutional interest in Sui also keeps growing. The most recent sample is that The Grayscale Sui Trust with its ticker $GSUI started trading on OTCQX. This is part of the OTC Markets Group. Trading started yesterday, November 20th. OTC means ‘Over-the-Counter’. This refers to private, direct trading of cryptocurrencies between two parties.
These are typically large transactions that occur outside a public exchange. An OTC desk matches buyers and sellers. After that, it negotiates a single, fixed price for the entire deal. So, by doing this, it bypasses public order books. This makes large trades more discreet. More importantly, it prevents significant market price fluctuations.
Grayscale ranks among the world’s largest digital asset-focused investment platforms. This Trust offer investors and institutions exposure to Sui. It was already available since August 2024. However, only via private placement to eligible accredited investors. So, the Trust transitioned from being a private product to public markets.
We can see that institutional interest back in two new ETFs by 21Shares. It filed for the FTSE Crypto 10 Index and the FTSE Crypto 10 ex-BTC Index. Both include $SUI. Especially for US investors, this is of interest. It gives them access to diversified crypto baskets, including $SUI.
Perps are making headlines left and right. The big battle is between Aster and Hyperliquid. However, Sui’s DeFi ecosystem also has some irons in this perps fire. Here is where you can trade perps in Sui’s DeFi ecosystem.
Zo. This is a perp protocol that uses AI-driven agents. It helps you to trade, automate risk, and manage positions on-chain.
Astros. This is a perpetual-futures DEX and aggregator powered by NAVI Protocol. It integrates deep liquidity and lending. This allows it to offer efficient, seamless perps trading for users.
Aftermath Finance. It’s a fully-on-chain order-book perpetual trading platform. Trades, matching and settlement all run on-chain for transparency, low cost and self-custody.
BlueFin. It’s the biggest perps platform on Sui, with a 90% market share. It offers perp futures, spot trading and lending. Bluefin offers sub-second settlement and a CEX-like user experience.
FlowX Finance. It’s a decentralized derivatives platform. It offers on-chain perp futures with high speed and low fees. Traders have full self-custody control.
As you can see, Sui’s DeFi ecosystem offers plenty of options for perps trading. Make sure to check out the X thread below.
Sui’s ecosystem also shows other positive growth numbers. For example, in,
BTCFi
Currently, you can find around 1,300 $BTC in Suilend markets. That’s worth around $110 million at the current $BTC price of $84k. The cumulative trading volume for $BTC exceeds $3.2 billion. There were also daily peaks exceeding $22 million. Various $BTC variants are available in the DeFi ecosystem. So, instead of having wrapped tokens that sit idle, you can make them work for you. For instance, by lending or restaking them and by using yield strategies.
Source: Delphi Digital
RWAs
Franklin Templeton and Libre are using Sui’s infrastructure. They rolled out live tokenized products or RWAs. In Europe, you can find a collateralized SUI ETN by VanEck. An ETN is an exchange-traded note that provides exposure to the performance of the $SUI token. The issuer holds the actual SUI tokens in custody to back the notes. Whilst in the US, Canary filed for a $SUI ETF.
You can now also find tokenized gold on Sui. That’s the first time this happens on a non-EVM chain. This is $XUAm that Matrixdock launched. It’s backed by 99.99% gold held in audited vaults. You can find this now, among others, in the Sui Foundation’s treasury. $XAUm is now integrating into the DeFi ecosystem.
Despite the current pull back in the crypto market, Sui keeps performing well. It has plenty of positive news to share. This includes reaching new records on trading volumes and various institutional interests. In this market, that’s a big thumbs up!
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.
Copyright Altcoin Buzz Pte Ltd.
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