The DeFi space has seen a sharp rebound, with tokens like $HYPE (Hyperliquid) and $F (SynFutures) leading the charge. $HYPE’s Fully Diluted Valuation (FDV) recently exceeded $10 billion, now reaching an impressive $13.6 billion.
Meanwhile, $F was listed on Bithumb, experiencing a 43% price increase in a short time.
Among the latest developments is Bluefin, a PerpDEX project built on the Sui Network, gearing up for its Token Generation Event (TGE). Bluefin is creating excitement by drawing comparisons to Hyperliquid, blending features like derivatives trading and spot DEX functionality while integrating Meme-focused gameplay.
Is Bluefin the Sui Network’s Hyperliquid?
Bluefin can be described as a Sui-based version of Hyperliquid with added elements from platforms like Jupiter and Pump.fun. In addition to its on-chain derivatives exchange, it offers unique Meme-launch capabilities, a bold move for an OG project established in 2020.
Performance Metrics
1️⃣ Sui Network Performance: $SUI has surged during the current bull market, with its ecosystem following the likes of SOL by launching innovative Meme games. Tokens like $MOVE have gained traction, increasing attention on Sui-based projects.
2️⃣ Bluefin Metrics: According to DeFiLlama, Bluefin’s Total Value Locked (TVL) is $34.91 million, ranking it 10th among Sui protocols. Its PerpDEX accounts for 99.67% of Sui’s trading volume, while its new spot DEX feature has surpassed Deepbook to claim the third spot in just three weeks.
Make DeFi Great Again?
🔹 $HYPE (Hyperliquid) FDV 已破百亿，目前 136 亿美金
🔸 $F (SynFutures) 上线 Bithumb 短时拉升 43%近期一众 DeFi 代币反弹猛烈，有种今夕是何年的感觉，而 HYPE 又重新打开了 PerpDEX 赛道的想象空间，一环扣一环啊；昨天下午看到律动的快讯，又一个 Sui 网络的老牌… pic.twitter.com/cyGKWbM2Fm
— Ai 姨 (@ai_9684xtpa) December 11, 2024
$BLUE Token Details
Bluefin’s TGE takes place tonight at 18:00, with an initial supply of 150 million tokens (15.04% of the total supply). Early participants, including Scallop, Wormhole, and Jupiter users, as well as NFT holders like Little Penguin and Azuki, may be eligible for airdrops. Backed by the Sui Foundation, Bluefin is a project worth keeping an eye on.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.