Key Points
- SUI token reached a brand new ATH earlier immediately above $3.12, amidst a community efficiency enhance.
- Also, Sui lending protocol Scallop (SCA) recorded a surge of over 84% prior to now 7 days.
Sui (SUI) token recorded a brand new ATH earlier immediately after the community noticed key indicators reaching historic highs through the previous week.
SUI Reached a brand new ATH, Surging by 30% Today
At the second of writing this text, SUI is buying and selling at $3.02, up by nearly 30% prior to now 24 hours.
Earlier, SUI reached a brand new ATH, topping $3.12, after an ascendant trajectory recorded through the previous week.
SUI debuted a worth surge on November 6, kicking off a rally from $1.96, and seeing an accelerated worth surge immediately, which took the token to new file highs. At the second of writing this text, SUI’s market cap is sort of $8.6 billion.
It’s additionally value noting that the Sui lending protocol Scallop (SCA) has additionally seen a major worth enhance prior to now 7 days.
Scallop (SCA) Surged Significantly within the Past Week
SCA recorded an 85% worth surge prior to now week that additionally debuted on November 6, and reached a peak immediately at $0.52.
At the second of writing this text, SCA is buying and selling above $0.5, up by 23% immediately.
Scallop is the peer-to-peer Money Market for the Sui ecosystem and it’s additionally the primary DeFi protocol to obtain an official grant from the Sui Foundation.
Recent Sui Achievements
On November 8, the crew at Sui re-posted a message from Blockworks by way of X, highlighting the current Sui wave.
Blockworks famous that over the previous month, there have been extra Sui community key efficiency indicators which have made new ATHs.
These embody DEX volumes, transaction charges, and TVL – all of them reaching file ranges for the community.
In October, the month-to-month spot DEX quantity on Sui reached a brand new ATH near $5 billion.
Also, various apps on the community benefitted so much from this surge in exercise, one in every of them being Cetus Protocol which settled greater than $4 billion in month-to-month spot quantity and held the dominant market share (over 90%) by each volumes and TVL amongst Sui DEXs.
Also, Sui’s money markets are heating up with each TVL and borrows excellent at ATHs throughout the three leaders: Navi Protocol, Suilen Protocol, and Scallop, as talked about above.
Also, over the previous three months, Sui has change into the 3rd largest chain by web inflows with greater than $428 million, behind Base and Solana.
These flows present that more cash is transferring into the community, benefitting Sui’s apps with extra deposits and volumes.
Also, on November 8, SUI formally crossed $100 million in native USDC, lower than 2 months after launching.
Sui additionally announced the NS token will go stay on November 14. Sui Name Service (SuiNS) included the Web3 id for all issues Sui, as famous by the crew by way of X.
The upcoming transition to a decentralized mannequin exhibits the crew’s dedication to constructing SuiNS into a strong public good.
