The competitive world of cryptocurrencies has seen a dizzying rise of SUI, the native token of the layer 1 blockchain network.
In an exciting development, SUI has surpassed its APT counterpart in terms of trading volume, reaching a remarkable $99,113,468 in the last 24 hours, while APT recorded $97,493,984 in the same period.
$SUI 🚀🚀🚀
Layer 1 raised $368M, but market capitalization is only $500M. It's truly absurd and foolish not to buy it now.
The market maker is Jump Capital (also MM for $APT). They drove $APT price up to $6B market cap.
Therefore, I completely believe $SUI will moon soon!… https://t.co/DgyEo7LfQ1 pic.twitter.com/dPETSnDJnM
— ǑethǑ (@CryptoShinn) November 23, 2023
This achievement marked a significant milestone for the network, which, despite its smaller market capitalization compared to APT, has demonstrated accelerated growth.
SUI MOMENTUM HAS BEEN BOOSTED BY ITS RAPIDLY GROWING DEFI ECOSYSTEM
The successful launch of several decentralized applications on the SUI blockchain has raised its total value locked (TVL) to an impressive $137.8 million.
This substantial growth highlights the growing trust and participation of investors and users in DeFi ecosystem. Despite its higher TVL, SUI’s market capitalization is still considerably lower compared to APT.
While SUI registers $565 million in market capitalization, APT remains in a dominant position with a capitalization almost four times larger, reaching $2.03 billion.
The token has experienced an increase in value, reaching $0.5792 with an increase of 7.74% in the last 24 hours, according to official data from CoinMarketCap. This growth has taken its market capitalization to $559.24 million, consolidating its position in #79 in the cryptocurrency market.
The disparity in market prices between both tokens is evident, as is currently trading at $0.576, while APT is valued at $7.27. The emphasis on layer 1 blockchain technology is a key aspect highlighted in this panorama.
Offering broad utility and proven scalability, this technology has been instrumental in the appeal to both builders and investors within the crypto space.
