{"id":140872,"date":"2023-06-13T06:02:50","date_gmt":"2023-06-13T06:02:50","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=140872"},"modified":"2023-06-13T10:23:24","modified_gmt":"2023-06-13T10:23:24","slug":"sui-soars-15-in-just-24-hours-here-are-the-reasons","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/sui-soars-15-in-just-24-hours-here-are-the-reasons\/","title":{"rendered":"SUI Soars 15% in Just 24 Hours. the Reasons Will Surprise You!"},"content":{"rendered":"<p style=\"text-align: justify;\">The price of <a href=\"https:\/\/crypto-economy.com\/what-is-sui\/\" target=\"_blank\" rel=\"noopener\">Sui (SUI)<\/a> has skyrocketed by a staggering 15% within a 24-hour period. <strong>As of today, the live SUI price stands at $0.693408, with a trading volume of $390,033,326 USD.<\/strong> The remarkable surge has propelled the project to the 81st position in the market rankings, boasting a live market cap of $418,851,275 USD at press time.<!--more--><\/p>\n<p style=\"text-align: justify;\">Bitcoin (BTC), the most popular cryptocurrency, also managed to overcome a brief slump and surpass the $26,000 mark early Tuesday. This resurgence had a positive impact on various altcoins, including Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Solana (SOL), as they all experienced slight gains. However, <strong>it was SUI that emerged as the standout performer.<\/strong><\/p>\n<h2 style=\"text-align: left;\">Why is SUI going up?<\/h2>\n<p style=\"text-align: justify;\">Although the exact catalyst behind SUI&#8217;s rapid price increase remains unclear, <strong>there has been <a href=\"https:\/\/www.redbullracing.com\/int-en\/sui-network-joins-as-official-blockchain-partner\" target=\"_blank\" rel=\"noopener\">recent news<\/a> of a multi-year partnership between SUI and the world-renowned Formula One team, Oracle Red Bull Racing<\/strong>. This collaboration has brought about excitement in the crypto community, as the blockchain network plans to introduce a series of digital experiences for racing enthusiasts in the coming months.<\/p>\n<p style=\"text-align: justify;\">Fans will have the opportunity to engage with Oracle Red Bull Racing through a range of immersive digital experiences.<\/p>\n<p style=\"text-align: justify;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-140879 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2023\/06\/SUI-Coin-Price-Charts.jpg\" alt=\"SUI soars 15% in just 24 hours. Why is SUI going up?\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/06\/SUI-Coin-Price-Charts.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/06\/SUI-Coin-Price-Charts-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/06\/SUI-Coin-Price-Charts-768x279.jpg 768w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/06\/SUI-Coin-Price-Charts-18x7.jpg 18w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify;\"><strong>The SUI network has also revealed its plans to implement liquid staking<\/strong>, an innovative feature that will significantly enhance the capabilities of the platform. Through the <a href=\"https:\/\/github.com\/sui-foundation\/sips\/pull\/6\" target=\"_blank\" rel=\"noopener\">SIP #6 protocol update<\/a>, developers will be able to create liquid staking with ease. This update allows users to earn rewards on their staked assets while still utilizing them for other purposes.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce3Coming soon: enabling liquid staking in Sui.<\/p>\n<p>Developers will be able to build liquid staking with the SIP 6 protocol update.<a href=\"https:\/\/t.co\/cY4pWZxMDq\" target=\"_blank\">https:\/\/t.co\/cY4pWZxMDq<\/a> <a href=\"https:\/\/t.co\/0gBbhxiTPP\" target=\"_blank\">pic.twitter.com\/0gBbhxiTPP<\/a><\/p>\n<p>&mdash; Sui (@SuiNetwork) <a href=\"https:\/\/twitter.com\/SuiNetwork\/status\/1667349248021778432?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">June 10, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify;\">Moreover, the integration of liquid staking introduces greater flexibility and accessibility, ultimately enhancing the overall user experience within the project&#8217;s ecosystem. The community eagerly anticipates the possibilities this advancement will unlock for DeFi applications.<\/p>\n<p style=\"text-align: justify;\">The recent SUI token listings on renowned exchanges such as Binance and KuCoin have further contributed to its meteoric rise.<\/p>\n<h2 style=\"text-align: left;\">Gaining Traction for Good Reasons<\/h2>\n<p style=\"text-align: justify;\">SUI, also known as the<em> &#8220;Ethereum Killer,&#8221;<\/em> continues to garner attention for its focus on smart contracts and technological developments. <strong>Its\u00a0rising popularity is attributed to several key factors<\/strong>. Scalability plays a crucial role, as the blockchain is designed to handle millions of transactions per second, making it suitable for high-throughput applications like decentralized finance (DeFi) and gaming.<\/p>\n<p style=\"text-align: justify;\">Its adoption of a secure proof-of-stake consensus mechanism adds to its appeal, as it avoids the competition for blocks that can potentially lead to centralization.<\/p>\n<p style=\"text-align: justify;\">Aside from its technical prowess, <strong>the SUI blockchain is gaining traction due to its burgeoning community and strategic partnerships<\/strong>. The team&#8217;s efforts to foster a strong community have yielded positive results, attracting major partners such as <a href=\"https:\/\/crypto-economy.com\/binance-users-can-now-farm-sui-tokens-using-staked-bnb\/\" target=\"_blank\" rel=\"noopener\">Binance<\/a> and Huobi.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Sui (SUI) has skyrocketed by a staggering 15% within a 24-hour period. As of today, the live SUI price stands at $0.693408, with a trading volume of $390,033,326 USD. The remarkable surge has propelled the project to the 81st position in the market rankings, boasting a live market cap of $418,851,275 USD &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"SUI Soars 15% in Just 24 Hours. the Reasons Will Surprise You!\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/sui-soars-15-in-just-24-hours-here-are-the-reasons\/#more-140872\" aria-label=\"More on SUI Soars 15% in Just 24 Hours. the Reasons Will Surprise You!\">Read more<\/a><\/p>\n","protected":false},"author":26,"featured_media":140880,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9346,70,74],"tags":[4620,5536,9512],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/140872"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=140872"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/140872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/140880"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=140872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=140872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=140872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}