Latest news with #MystenLabs
Yahoo
2 days ago
- Business
- Yahoo
Could This Surprising Cryptocurrency Become the Next XRP?
Sui launched in 2023, and is still flying under the radar of many investors. It may possess the same type of upside potential as XRP. Sui, much like XRP, is a highly speculative cryptocurrency prone to enormous volatility. 10 stocks we like better than Sui › It's easy to understand the allure of XRP (CRYPTO: XRP) for crypto investors. Between November 2024 and January 2025, it soared nearly 600% in value, eventually hitting a 52-week high of $3.39 in mid-January. However, since then, XRP has slumped badly. It's now down 35%, and shows little sign of regaining momentum. As a result, I've been looking for "the next XRP" -- a low-cost, high-upside cryptocurrency capable of skyrocketing in price just like XRP. My top pick right now is Sui (CRYPTO: SUI), and here's why. Sui is the latest in a long line of highly touted Ethereum (CRYPTO: ETH) challengers. While Solana (CRYPTO: SOL) is currently the top Ethereum challenger, Sui has often been referred to as a potential "Solana killer." So, in terms of current pecking order, there's Ethereum, there's Solana, and there's Sui. Sui currently ranks No. 12 among all cryptocurrencies, with a market cap of $10 billion. That's all the more impressive given that Sui only launched in April 2023. In just two years, it has already become one of the top cryptocurrencies in the world. To give you an idea of just how big the potential market opportunity is for Sui, Solana has an $80 billion market cap, while Ethereum has a $300 billion market cap. So if Sui manages to catch Solana, it might increase in value eight-fold. If it manages to close the gap with Ethereum, it might increase in value by 30-fold. What's particularly interesting is how many similarities there are between Sui and XRP. Both are currently trading at more than 40% discounts to their all-time highs. Both also hit 52-week highs in January 2025, amid a wave of crypto euphoria. That's not all. Both are strong candidates to get spot ETFs this year, and both have high-profile Silicon Valley companies backing them. XRP has Ripple Labs, while Sui has Mysten Labs. To date, Mysten Labs has raised over $300 million in financing to support the build-out of the Sui blockchain ecosystem. Moreover, if you look at trading activity on the cryptocurrency exchange Coinbase Global (NASDAQ: COIN), both XRP and Sui rank among the top five cryptocurrencies in terms of 24-hour trading volume. While Sui may not be a household name quite yet, traders are certainly aware of it. So why is Sui not generating the same types of headlines as XRP? Well, Sui launched in 2023 as the crypto winter of 2022 was coming to an end. That was bad timing, to say the least. The last thing investors want to hear about when the market is at the very bottom is a new, highly speculative cryptocurrency. However, Sui has certainly made up for lost time, and is now starting to attract more attention from institutional investors. In August 2024, a research report from 21Shares ("Is Sui a Solana Killer?") highlighted Sui's impressive performance metrics, including its blazing-fast speeds. Will Sui really be able to outperform XRP over the long haul? It depends on the long-term growth prospects of both. If you think that Ripple (XRP) can become a world leader in cross-border payments, you buy XRP. If you think that Solana and Ethereum are ripe for disruption, then you buy Sui. Going forward, one major point of differentiation might be stablecoins, which have emerged as one of the fastest-growing segments of the crypto market. Right now, stablecoins appear to be taking a big bite out of XRP's core business (cross-border payments). In contrast, stablecoins are likely to be complementary for the Sui blockchain ecosystem, helping to drive more user activity. According to online prediction markets, XRP has a 72% chance of hitting a price of $3.40 before the end of the year, and a 30% chance of hitting $3.75. Based on its current price of $2.20, that means XRP has a relatively high likelihood of soaring 50% or more by the end of 2025. Given all its similarities with XRP, I'm expecting Sui to meet or exceed this type of performance. If Sui is able to regain its highs from January, then it could soar more than 75% by the end of the year. If you are willing to accept the risk of significant volatility ahead, Sui could be yet another way to diversify your portfolio with a low-cost, high-upside cryptocurrency. Before you buy stock in Sui, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Sui wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Dominic Basulto has positions in Ethereum, Solana, Sui, and XRP. The Motley Fool has positions in and recommends Ethereum, Solana, Sui, and XRP. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy. Could This Surprising Cryptocurrency Become the Next XRP? was originally published by The Motley Fool
Forbes
31-05-2025
- Business
- Forbes
What Is Sui Crypto? A Beginner's Guide For Crypto Investors
Sui's unique object-based infrastructure and the Move programming language make it a go-to platform ... More for DeFi, gaming and NFTs. Sui is a Layer-1 blockchain designed to optimize speed, scalability and low transaction costs. Officially launched in 2023, Sui runs decentralized apps and play-to-earn games quickly and smoothly, giving users a streamlined experience. This guide explains what makes Sui unique, how it works and why it's gaining traction among crypto investors and developers. Mysten Labs, a team comprised of former Meta engineers, built Sui. The Layer-1 blockchain uses Move, a smart-contract programming language and unique object-based model, to process transactions in parallel. This leads to faster confirmation times and supports high-throughput applications like gaming, NFTs and DeFi. The network's native token, SUI, is used to pay transaction fees, secure the network through staking and vote on governance decisions. Developers and users are drawn to Sui's ability to run advanced, data-heavy apps quickly and smoothly, making it a promising platform for building next-generation decentralized apps. Sui was created by former Meta engineers who worked on the Diem blockchain project. Led by CEO Evan Cheng, the team built a faster, more efficient Layer-1 network and developed the Move programming language to simplify building decentralized apps. By treating each asset as a separate object, Sui speeds up transactions and avoids delays tied to account balances. This design makes it attractive to developers and institutions looking for performance and security. Unlike traditional blockchains, Sui runs on a unique architecture that allows it to process many transactions simultaneously rather than lining them up in a strict order. It does this by focusing on individual pieces of data, called objects, rather than entire accounts. Two transactions can be processed in parallel if they don't touch the same object. This makes Sui much faster and more scalable than blockchains that rely on every validator reviewing every transaction. Smart contracts on the network are written in Move, a programming language also developed by Meta. Move allows developers to define how assets are created, transferred, and updated as programmable objects. These objects operate independently, making it easier to process many transactions simultaneously. Validators, also known as authorities, manage the network using a system that ensures speed and security. SUI is Sui's native token. It is used to pay transaction fees, secure the network through staking and participate in governance. With a total capped supply of 10 billion tokens, SUI was designed to promote long-term economic sustainability, avoiding the rapid inflation or speculation in many other crypto projects. Importantly, no airdrops were offered at launch, prioritizing long-term stability over short-term hype. As a whole, the network operates on a delegated proof-of-stake model. Users can stake their SUI with validators to help secure the system and earn rewards, which are distributed every 24 hours, including gas fees and protocol subsidies. SUI holders also have governance rights, allowing them to vote on network upgrades and proposals. A unique storage fund collects user fees to cover long-term data costs, reward validators and reduce the circulating supply of SUI, giving the token deflationary traits. Validator rewards are based strictly on stake size, with staking pools using exchange rates to compound earnings over time automatically. Currently, Sui is working to implement 'SIP-39', which lowers the barrier to becoming a validator by focusing on voting power instead of a fixed token minimum. This opens the network to more participants and strengthens decentralization while maintaining economic security and validator accountability. Sui differentiates itself from other Layer-1 blockchains with high velocity, low fees, and an object-based data model that allows parallel transactions. Unlike Ethereum's account-based architecture, which processes transactions linearly and can become congested, Sui handles unrelated transactions independently. Because Sui uses the Move programming language instead of Solidity, it offers developers greater control over assets, although Move is still less widely adopted at this time. Compared to Solana, which is known for speed but has faced reliability issues and high validator hardware demands, Sui offers a more accessible and potentially more stable alternative. Unlike Cardano, which takes a slower, research-driven upgrade approach, Sui focuses on real-time performance and developer usability. These design choices position Sui as a competitive option for building scalable, next-generation applications. Due to its smaller validator set, Sui is less decentralized than networks like Ethereum or Cardano, but it is actively working to improve this. Initiatives like SIP-39, which base validator eligibility on voting power instead of fixed token amounts, aim to lower entry barriers and encourage broader participation. Sui is expected to support more decentralization and stronger on-chain governance as these features roll out. Sui is rapidly becoming the go-to platform for bitcoin-based assets and decentralized finance. OKX recently launched xBTC, a new type of bitcoin token, and chose Sui as one of the first blockchains to support it. bitcoin-backed assets make up over 10% of all the value locked in Sui, showing strong growth in this area. DeFi continues to excel on Sui by moving into real-world asset investing through a new Open Market Group partnership. This lets users create unique tokens called Soulbound Tokens, which give them access to RWAs like property or other assets that earn rewards. Sui is also making waves in gaming. For example, the game XOCIETY teamed up with Adidas to launch limited-edition NFT skins that players can use in the game or trade. Sui's future is bright as it continues to attract developers, institutions and ecosystem partners. Major initiatives like OKX's xBTC integration, the growth of Bitcoin-backed assets, and partnerships in RWA investing signal growing confidence in the network. Upcoming improvements to decentralization, such as the rollout of SIP-39, aim to make validator participation more accessible and strengthen the network's resilience. While the recent Cetus exchange hack raised concerns, Sui's rapid response demonstrated its ability to protect users. Validators and ecosystem partners froze $163 million of the $223 million stolen, showing effective crisis coordination and network control. Blockchain security firm Dedaub identified the bug and outlined fixes, helping bolster confidence in future safeguards. Despite the incident, it has led to renewed focus on improving security and transparency, positioning Sui to emerge stronger and more prepared for institutional growth ahead. Bottom Line Sui is quickly becoming a key player among emerging Layer-1 blockchains. Its unique object-based infrastructure and the Move programming language make it a go-to platform for DeFi, gaming, and NFTs. The ecosystem is expanding and fueled by RWA integrations and BTC-backed DeFi solutions. Despite challenges like the Cetus hack, Sui's swift and professional response highlighted its strong coordination and security focus. With upgrades like SIP-39 to improve decentralization and growing institutional partnerships, Sui is well-positioned as a serious contender in the next wave of blockchain innovation. What Is Sui? Sui is an accelerated, scalable Layer-1 blockchain that supports high-performance decentralized apps using an object-based model and the Move programming language. What Does SUI Stand For? SUI is the native token of the Sui blockchain. It is used to pay for transaction fees, participate in staking, and vote on governance decisions within the network. What Makes Sui Different From Other Blockchains? As previously mentioned, Sui uses an object-based data model and parallel transaction processing, allowing for faster performance and greater scalability than traditional blockchains. The Move programming language gives developers more control over digital assets and smart contracts. Can You Stake SUI Tokens? Yes, users can stake SUI tokens to earn rewards and support the network. Is Sui Suitable For NFT And Gaming Projects? Yes, Sui is well-suited for NFT and gaming projects because of its fast transaction speeds, low fees and object-based data model. These features enable dynamic NFTs and smooth in-game interactions, offering a better user experience for players and developers.
Crypto Insight
27-05-2025
- Business
- Crypto Insight
$3.3B in crypto tokens set to unlock in June
Digital assets worth $3.3 billion are set to enter circulation in June as vesting periods for several major projects expire. According to crypto vesting tracker Tokenomist, $3.3 billion in tokens will be released in June, a 32% decline in unlocked tokens month-on-month. In May, such tokens totaled $4.9 billion. Crypto projects allocate tokens for various purposes. For example, a company may promise tokens to team members to reward them for their contributions or sell them to early investors. However, projects usually lock the tokens for a specific period to prevent early holders from dumping before the project matures. The data shows that $1.4 billion in tokens will be released through a 'cliff unlock,' while $1.9 billion will be emitted through a 'linear unlock.' Cliff unlocks release a large portion or all of the vested tokens simultaneously, while linear unlocks emit crypto assets gradually. Among the largest token unlocks in June is Metars Genesis (MRS), a non-fungible token (NFT) project that will release $193 million worth of tokens on June 21 to fund an artificial intelligence partnership. Since March, MRS has released 10 million tokens per month, with nearly $1 billion in tokens unlocked so far. Sui is scheduled to unlock 44 million tokens worth about $160 million on June 1. The tokens will go to the Mysten Labs treasury, early contributors and the community reserve. The largest portion, valued at more than $70 million, is allocated to Series B investors. To date, Sui has unlocked 3.3 billion tokens valued at over $12 billion, roughly 33% of its total supply. Tokenomist data shows another 5.22 billion tokens worth nearly $20 billion remain without a scheduled release date. Projects scheduled to unlock tokens in June Other tokens, including Fasttoken, Aptos, LayerZero (ZRO), ZKsync and Arbitrum also have vesting periods set to expire in June. Fasttoken will release 20 million tokens worth $88 million allocated to its founders, while LayerZero is scheduled to unlock 25 million tokens worth $71 million to its core contributors and strategic partners. Aptos is expected to release 11.31 million tokens worth $61 million to its core contributors, foundation, community and investors. ZKsync will release over 760 million tokens worth $49 million to its investors and team members. Source:
Yahoo
15-05-2025
- Business
- Yahoo
Bitcoin Backed Token YBTC Comes to Sui as Bitlayer Integrates Its BitVM Bridge to Sui Network
Bitlayer, a bitcoin Layer 2 based on the BitVM paradigm, and Sui blockchain have teamed up to make bitcoin (BTC) more useful in the Sui ecosystem. The collaboration involves Sui integrating Bitlayer's BitVM bridge to launch Peg-BTC (YBTC), a Bitcoin-backed token, on its platform, according to an exclusive announcement shared with CoinDesk. It allows bitcoin holders to transfer their BTC into Sui via the BitVM bridge. The bridged version, Peg-BTC, can then be used within Sui's DeFi ecosystem to earn additional yields. "Bitcoin's dominance as a store of value is unmatched, but its utility in DeFi remains untapped. By integrating Bitcoin's liquidity into Sui's ecosystem, Peg-BTC (YBTC) empowers users to earn yield while maintaining direct exposure to BTC's value—a paradigm shift for BTCFi,' Charlie Hu, co-founder of Bitlayer, said in a press release shared exclusively with CoinDesk. BitcoinFi, or allowing BTC users to earn additional yields through DeFi, was one of the hottest topics at the Token2049 conference in Dubai. Franklin Templeton backed the idea at the event, saying it will boost BTC's appeal beyond the long-prevalent store of value story. Bitlayer is the Bitcoin-security equivalent Layer 2 built on the BitVM paradigm to bring smart contract capabilities to bitcoin without influencing its core consensus. It relies on off-chain computation and on-chain fraud proofs to keep the network secure and decentralized. Bitlayer's BitVM-powered zk bridge is a special tool that facilitates safe and secure movement of BTC onto different blockchain ecosystems without relying on centralized intermediaries or middlemen. It's trust-minimized, meaning it's designed to be very secure and decentralized. Sui is a Layer 1 blockchain focusing on offering high-speed and low-cost transactions through parallel processing. As of writing, its DeFi ecosystem comprised 49 projects, boasting over $2 billion in crypto deposits, per data source DeFiLlama. Integrating Peg-BTC (YBTC) into the Sui ecosystem opens up several new opportunities for users, like staking Peg-BTC to earn interest through various Bitcoin staking protocols. Users can also lend or borrow Peg-BTC by lending it out to earn yields or using it as collateral for loans. Additionally, Peg-BTC can be traded on popular decentralized exchanges within Sui, allowing users to swap and provide liquidity to earn trading fees. Hu said they plan to work with Sui's top protocols, with the biggest traction in terms of total value locked, fully diluted value and user base within the Sui ecosystem. Adeniyi Abiodun, Co-Founder and CPO at Mysten Labs, the company behind Sui, said they are taking a holistic approach while catering to the growing demand for BitcoinFi. "Sui is taking a holistic approach by onboarding a full stack of infrastructure and BTCfi asset options into the ecosystem, including staking, restaking, bridge integrations, WBTC, sBTC, and soon Peg-BTC (YBTC). Demand is growing for Bitcoin to serve a greater purpose beyond simply being held," Abiodun told CoinDesk. "Key integrations, such as the BitVM bridge with Bitlayer, are transforming the experience for Bitcoin holders by enabling them to earn, engage with DeFi, and put their assets to work on Sui," Abiodun added. As of today, BTC assets comprise over 10% of the total TVL locked in the Sui ecosystem, with over 587 BTC flowing into DeFi since February. "With support for leading BTCfi integrations, Sui's advanced programmability activates Bitcoin's utility, enabling users to move beyond holding and into a secure, high-performance chain," Abiodun noted. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Mayor
09-05-2025
- Business
- Business Mayor
Walrus price today, WAL to USD live price, marketcap and chart
Walrus is a decentralized data storage protocol and application development platform that allows apps to publish, read, and program large data files and rich media content such as videos, images, and audio. Built on Sui, apps on Walrus can manage stored on- and offchain data via Move-based smart contracts. Originally developed by Web3 infrastructure builders Mysten Labs, Walrus represents an evolution in how decentralized data storage works. Walrus is the first storage network to let you store any size of data on chain and at scale. Web3 projects can do more with their data through smart contracts, allowing a broader set of businesses to be built onchain. -Robust & reliable network: Data remains accessible, frictionless, and secure even in a catastrophe -Cost-efficient storage: Builders experience performance and cost dynamics almost on par with web2 solutions -Programmable storage: New use cases unlocked with a native tie between storage and smart contract programmability
