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Sui Blockchain Launches Bridge For Ethereum, Boosting Cross-Chain Connectivity

On September 30, the Sui blockchain introduced a new bridge that allows Ethereum (ETH) users to transfer assets to Sui, a Layer 1 network. This bridge enhances interoperability between Ethereum and Sui by facilitating seamless transactions, a major development in blockchain technology. Before this, Wormhole was the primary means for transferring assets between the two platforms. https://twitter.com/scottmelker/status/1841877064569270510?t=V40ZhKBOOC9Iy02fKdis1A&s=19 SUI Newly Launched Bridge Supports Ethereum And WETH  The newly launched Sui Bridge currently supports transfers of both ETH and WETH, with plans to broaden its capabilities in future updates. This is expected to make cross-chain transactions even more efficient as the Sui ecosystem continues to grow. Sui’s growing popularity is also reflected in its market performance. Recent interest rate cuts have contributed to $SUI's impressive gains, positioning it as one of the top 20 assets on CoinMarketCap (CMC). Additionally, the total value […]

Will Izuchukwu October 4, 2024

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SuiNetwork: The Future Of Fast And Affordable Blockchain Transactions

SuiNetwork, a decentralized Layer 1 blockchain, is making waves with its promise of fast and cheap transactions. Developed by Mysten Labs, Sui is designed to make Web3 secure and reliable for everyone. The team behind Mysten Labs includes several former members of Meta’s Novi digital wallet program, with Even Cheng serving as CEO. Backed by major venture capital firms like Binance Labs, a16z, and NCSoft, Mysten Labs raised $300 million in a funding round for Sui's development in September 2022. https://twitter.com/C__thumbs/status/1818176875845259754?t=vZSxaUis_vD58NB8akWdUw&s=19 Sui launched its incentivized testnet in August 2022, followed by the mainnet going live in May 2023. The blockchain aims to integrate the best features of Bitcoin and Ethereum while addressing their limitations by offering reduced latency, instant transaction finality, and increased transaction speed. This results in a fast, private, and seamless DeFi experience. $Sui stands out with several […]

Will Izuchukwu July 31, 2024

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GameFi Investments Surge In 2024 Despite Market Cap Decline

Venture capital interest in GameFi is on the rise in 2024, with investments increasing steadily. In the first four months of the year, both the number of funded projects and total raised funds have shown significant growth.  The GameFi sector now boasts 3,763 protocols, with BNBChain, Ethereum, and Polygon leading in the number of active games. BNBChain is at the forefront, followed by Klaytn, Sui, Flow, and Optimism, where all games are currently active. The number of active GameFi users has surged month-on-month, with an increase of over 41 million users by the end of April 2024 compared to the beginning of the year. Ronin, despite having fewer games, has attracted the most gamers, with 972,000 users in just the first four months of the year. https://twitter.com/Coin98Analytics/status/1792956836146188630?t=P-vgqrSAr_9T0vkEiI5eFg&s=19 The GameFi market cap, however, has seen a notable decline, decreasing by 44% […]

Will Izuchukwu May 22, 2024

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SuiNetwork’s DeFi Ecosystem Reaches Notable $150M TVL Milestone

In an impressive feat, SuiNetwork's decentralized finance (DeFi) ecosystem has successfully amassed over $150 million in Total Value Locked (TVL) within just six months. This accomplishment positions Sui among the top 20 blockchains in TVL, showcasing the substantial growth of its DeFi ecosystem, backed by an engaged community and a pool of adept developers. https://twitter.com/alonsodegortari/status/1729713967478575344?t=doBtqKVLd0ZE4Eqag1rzSw&s=19 SUI Hits Remarkable Milestones Currently, Sui displays a significant net of bridged stablecoin assets, surpassing $140 million, with over $100 million held in USDC alone. This considerable reserve of stablecoins provides a sturdy foundation for Sui's native decentralized applications (dApps) within the DeFi ecosystem, ensuring essential resources for their development and functionality. Sui's liquidity is additionally strengthened by trading volume fees, reaching a peak of $50 million per day and consistently maintaining a weekly volume of $100 million. This increased trading activity signifies robust engagement […]

Will Izuchukwu December 1, 2023

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