{"id":173223,"date":"2024-10-16T14:31:52","date_gmt":"2024-10-16T14:31:52","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=173223"},"modified":"2024-10-16T14:31:56","modified_gmt":"2024-10-16T14:31:56","slug":"bitgo-adds-custody-for-sui-naming-service-and-deepbook-but-sui-token-crashes","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitgo-adds-custody-for-sui-naming-service-and-deepbook-but-sui-token-crashes\/","title":{"rendered":"BitGo Adds Custody for Sui Naming Service and DeepBook, But SUI Token Crashes"},"content":{"rendered":"<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TL;DR<\/span><\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">BitGo expands its support for the Sui ecosystem with custodial services for Sui Naming Service (NS) and DeepBook (DEEP).<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Sui Naming Service facilitates the creation of more user-friendly onchain identities and DeepBook is a decentralized trading platform.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The current price of Sui (SUI) is $2.06, with a change of 4.94% in the past 24 hours, according to CoinMarketCap.<\/span><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">BitGo<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> has <\/span><\/span><a href=\"https:\/\/www.bitgo.com\/resources\/blog\/bitgo-expands-support-for-sui-ecosystem\/\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">announced<\/span><\/span><\/strong><\/a><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> a further expansion of its services for the Sui<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> ecosystem<\/span><span style=\"vertical-align: inherit\">, adding custody support for <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">two major assets: Sui Naming Service (NS) and DeepBook (DEEP)<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This move reinforces BitGo<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><strong>\u2019s<\/strong> commitment <\/span><span style=\"vertical-align: inherit\">to providing <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">institutional-grade custody solutions for evolving blockchain networks<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Currently, according to data from <\/span><\/span><a href=\"https:\/\/coinmarketcap.com\/es\/currencies\/sui\/\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">CoinMarketCap,<\/span><\/span><\/strong><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> the price of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Sui (SUI)<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">$2.06<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, with a negative variation of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">-4.94%<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> in the last 24 hours.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Sui<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is ranked <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">#18<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> in the cryptocurrency ranking, with a market volume of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">$274,000<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Since <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">BitGo became the first qualified custodian to offer custody and staking services for the SUI token in 2023<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, it has maintained a close relationship with the development of the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Sui ecosystem<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This new integration of NS and DEEP<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> assets <\/span><span style=\"vertical-align: inherit\">underscores their commitment to expanding the options available to institutions looking to <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">further engage in the Web3 and decentralized platforms space.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Sui Naming Service (NS)<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is a platform that allows users to create <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">more intuitive and memorable onchain identities<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">With this functionality, addresses on the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Sui network<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> are transformed into <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">more human and memorable identifications<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, facilitating the interaction of users and institutions in the digital environment.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Furthermore, the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">NS token allows participants to get involved in the project&#8217;s decision-making<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, contributing to the governance and future development of the platform.<\/span><\/span><\/p>\n<h2><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-92097\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/10\/sui.jpg\" alt=\"BitGo Adds Custody for Sui Naming Service and DeepBook, but SUI Token Plunges\" width=\"825\" height=\"300\" \/><\/h2>\n<h2><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">DeepBook Innovations and Their Impact on the Sui Ecosystem<\/span><\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">DeepBook<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, for its part, offers an <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">innovative solution to the problem of on-chain trading<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">It uses the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Sui network infrastructure<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> to create a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">decentralized order book that operates with remarkable efficiency thanks to parallel execution and low transaction fees<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The platform enables <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">order routing, matching, and settlement in a fully decentralized manner<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, maximizing flexibility and programmability for users and developers.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><strong>BitGo\u2019s<\/strong> support <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">for these assets<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> not only ensures <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">greater security and accessibility for institutions<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, but also <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">drives adoption of the Sui ecosystem as a whole<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">As more tokens and projects join the network, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">BitGo<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> continues to position itself as a strategic partner in the growth and strengthening of decentralized finance (DeFi) and <\/span><strong><a href=\"https:\/\/crypto-economy.com\/blockchain-technology\/\"><span style=\"vertical-align: inherit\">blockchain<\/span><\/a><\/strong><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> applications<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Sui\u2019s constant evolution<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and <\/span><span style=\"vertical-align: inherit\">focus on <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">innovative technological solutions<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> are opening up new opportunities in the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">cryptocurrency market<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">integration of Sui Naming Service and DeepBook within the BitGo framework<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> aims to consolidate a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">robust infrastructure<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> for developers and users looking to take full advantage of the capabilities of this emerging network.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR BitGo expands its support for the Sui ecosystem with custodial services for Sui Naming Service (NS) and DeepBook (DEEP). Sui Naming Service facilitates the creation of more user-friendly onchain identities and DeepBook is a decentralized trading platform. The current price of Sui (SUI) is $2.06, with a change of 4.94% in the past 24 &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"BitGo Adds Custody for Sui Naming Service and DeepBook, But SUI Token Crashes\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/bitgo-adds-custody-for-sui-naming-service-and-deepbook-but-sui-token-crashes\/#more-173223\" aria-label=\"More on BitGo Adds Custody for Sui Naming Service and DeepBook, But SUI Token Crashes\">Read more<\/a><\/p>\n","protected":false},"author":33,"featured_media":173224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9346,70,74],"tags":[4614,4620,4656,5001,9512],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/173223"}],"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\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=173223"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/173223\/revisions"}],"predecessor-version":[{"id":173225,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/173223\/revisions\/173225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/173224"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=173223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=173223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=173223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}