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The world's largest cryptocurrency exchange, Binance, has once again managed to shake up the crypto market with its latest offering: perpetual contracts for the recently launched SUI token. However, the introduction of these new derivatives has sent the SUI token price into a freefall, with a staggering nosedive of 70%.
SUI Token News: Sui Network, a Layer 1 blockchain's native token SUI just gained the support of more crypto exchanges as it moves towards stability. The SUI Mainnet went live on Wednesday after much anticipation.
The Sui Network, a smart contract layer 1 blockchain, has launched its mainnet and its native token has been listed on top centralized exchanges such as Binance, OKX, and KuCoin. With a fully diluted valuation of nearly $14 billion, Sui has outperformed competitors like Solana.
Sui Foundation launched its Layer 1 blockchain and smart contract platform with a successful token sale on KuCoin, OKX, and Bybit. Meanwhile, the SUI token price has experienced a 70% pullback after hitting a 24-hour high of $2.
Key Points: Recent data has revealed that a significant proportion of the SUI token supply might be sold out, with market makers (MMs) holding approximately 66% of the circulating supply. This concerning development has raised worries among investors and traders about the potential impact on the SUI token's price and market dynamics.
SUI is the native token of the project, it has a total supply of 10 billion.
Recent data reveals that a significant portion of the SUI token supply might be sold out, with market makers (MMs) holding approximately 66% of the circulating supply. This development has raised concerns among investors and traders about the potential impact on the SUI token's price and market dynamics.
The crypto world is abuzz with excitement as the SUI token, a new cryptocurrency developed by Mysten Labs, makes its debut on the Binance exchange platform. Launched yesterday, the SUI token has already garnered significant attention from the crypto community, thanks to its revolutionary technology and the potential to reshape the digital landscape.
SUI nosedived from $3.5 to $1.5 shortly after the mainnet launch.
Today's cryptocurrency market showcases Woo Network (WOO), Conflux (CFX), Fantom (FTM), Rocket Pool (RPL), Curve DAO Token (CRV), and Loopring (LRC) as the top gainers, while Suterusu (SUI), Toncoin (TON), Huobi Token (HT), Elrond (EGLD), BitTorrent (BTT), and Crypto.com Coin (CRO) have faced losses.
FTX's bankruptcy case proceeded as the company moved to recover $3.9 billion from Genesis. Meanwhile, an earlier FTX sale became relevant with the launch of SUI token.
According to the trader and analyst of the crypto market under the pseudonym “Googly,” the fallen crypto exchange FTX sold warrants for $884 million SUI tokens to Mysten Labs and preferred stock for less than $100 million in March. The paper valuation for the tokens is now worth $1 billion.
The Sui Foundation made an announcement Wednesday that the Sui Mainnet is now live, but the token's performance will prove a disappointment for some.
Binance and Bybit launched 50x leveraged perpetual contracts for SUI token, despite the SUI team's request. Second-tier exchanges already launched contracts.
SUI, one of the long-awaited blockchain token projects in the crypto community, finally launched earlier today. However, contrary to expectations, SUI has recorded a significant plunge in price as the trading went live on multiple exchanges.
Binance, the world's largest crypto trading platform has announced it plans to launch USDⓈ-M SUI perpetual contract as a way to further support the digital currency whose mainnet launched earlier today. According to the Binance announcement, the launch was slated for May 3 at 16:00 UTC.
But traders that got the token in at pre-sale and ICO prices, $0.03 and $0.10 respectively, are comfortably in the green.
Upbit, one of the leading crypto exchanges, has recently made a major announcement. The exchange has added the SUI token to its KRW and BTC markets.
With a $2 billion valuation, the highly anticipated Layer 1 blockchain Sui (CRYPTO: SUI) debuted its mainnet on Wednesday. Sui will go up against Facebook spinoff Aptos (CRYPTO: APT) and other significant decentralized financial (DeFi) companies.
SUI may not be performing well since its launch earlier today but it's been a good day for STX, RPL.
Investors around the world are in a state of shock after the SUI token suffered a massive 72% drop in value within just 30 minutes of its highly anticipated mainnet launch! Here's what you need to know about this developing story: SUI Token's Initial Price Jump The SUI token initially saw a massive surge in
Mysten Labs' sui token is returning huge gains to early investors as its price soared above $2 on its debut.
In the crypto market, launch day is often a make-or-break moment. And in the case of Sui Token, the much-anticipated digital currency skyrocketed on its debut, instantly drawing attention and intrigue from across the globe.
SUI Token News: Sui Network's much anticipated mainnet launch finally went live. However, its native token Sui (SUI) price took a major hit as soon as major crypto exchanges opened trading for the token.
