Analysis of SUI Ecosystem Projects and Token Performance

Recently, the market focus has mainly concentrated on two aspects: the continuous development of the meme coin sector and the strong performance of the SUI public chain.

New projects continue to emerge in the meme coin sector, such as lowercase Neiro and MOODENG, continuously creating wealth effects. SUI, as an emerging Layer 1 public chain, has seen its token distribution method become controversial, but recently its coin price has performed strongly, rising from $0.76 in early September to a peak of $2.16, approaching its historical high, with an increase of about 185% in one and a half months.

The recent surge of SUI is led by institutions, focusing on the narrative of replacing Solana. The influx of funds not only boosted the coin price but also drove the overall development of the ecosystem, including the total locked value ( TVL ), the growth of ecological projects, and even related meme coins.

Key Projects in the SUI Ecosystem

Cetus

Cetus is the largest decentralized exchange in the SUI ecosystem ( DEX ), utilizing a concentrated liquidity mechanism similar to Uniswap V3. Its services include DEX, liquidity pools, gun pools, yield vaults, and Launchpad, among others. The platform also integrates the centralized limit order book DeepBook and the Wormhole cross-chain bridge.

Cetus's Launchpad feature provides a platform for the first decentralized issuance ( IDO ) for SUI ecosystem projects, and holding xCETUS Token allows participation. In the past few IDOs, there has been oversubscription, reinforcing Cetus's leading position in the DEX space.

Currently, Cetus has a total locked value of over $200 million, ranking fourth in the SUI ecosystem, with a growth of 83% over the past month. Its Token $Cetus has increased by 180% in price over the last 30 days, currently priced at approximately $0.17, close to the historical high of $0.186. The current market cap is $54.52 million, ranking 638th in the cryptocurrency market.

NAVI

NAVI is the first native one-stop liquidity protocol in the SUI ecosystem, providing lending services similar to Aave. It currently supports various assets including SUI, vSUI, NAVX, USDT, USDC, CETUS, and WETH. The annual interest rate for stablecoin deposits is approximately 7%, while for SUI it is 4%.

NAVI is the project with the highest locked value in the SUI ecosystem, growing by 52% in one month, reaching a total of $500 million. However, its Token $NAVI has not performed as brightly as the product. Despite increasing by over 150% in the 30 days during the rise of SUI, it is still more than a 100% away from its historical high. The current token price is approximately $0.15, with a historical high of $0.357 and a current market value of $36.62 million.

Scallop

Scallop is a lending protocol in the SUI ecosystem, which completed a strategic financing of $3 million in March this year, with investors including CMS Holdings, 6th Man Ventures, and Mysten Labs. At the end of April, it also received a strategic investment from DWF Labs, which will serve as Scallop's main liquidity provider on major centralized exchanges and support over-the-counter trading.

The Token $SCA saw a decline after its launch, but has recently recovered slightly, rising 52% within a month, though the increase is not as significant as SUI and other major Tokens. The current price is approximately $0.376, with a historical high of $1.28 and a market value of $20.34 million.

SUI Ecosystem Meme Coin

HIPPO

HIPPO originates from the concept of the Thai internet celebrity hippo "Bouncing Pig" MOODENG and initially became popular on the Solana chain. The current price of the SUI version of HIPPO is approximately $0.0148, close to the historical high of $0.01848, with a market capitalization of $148 million and a seven-day increase of 17%.

AAA

AAA, taking the black cat as its image, originated from an emoji pack on the SUI Name Service. As one of the few non-marine-themed meme coins in the SUI ecosystem, the community expects it to reach the heights of the well-known meme coin Popcat on Solana. Currently, the price is about $0.0019, with a historical high of $0.00253, a 293% increase over the past seven days, and a market cap of $19 million.

BLUB

The image of BLUB is a fish with Pepe characteristics, and it was once the most popular meme coin in the SUI ecosystem until HIPPO appeared. BLUB was released on September 1st, around the same time as the price increase of SUI, growing from an initial market value of 3.5 million USD to a peak of 48 million USD, achieving a 11 times increase. The current price is about 0.0000123 USD, with a historical high of 0.0000161 USD, a 7-day decline of 9.8%, and a current market value of 40 million USD.