Overview of Hot Projects in the SUI Ecosystem

Recently, the focus of the cryptocurrency market has mainly been on two aspects: the meme coin craze and the strong performance of the SUI public chain.

The meme coin sector remains active, with new projects continuously emerging and bringing considerable returns. At the same time, as an emerging Layer 1 public chain, SUI has also garnered widespread attention from the market. Despite its controversial token distribution model, SUI's price performance has been quite remarkable. From $0.76 at the beginning of September to a peak of $2.16, SUI has risen by about 185% in just a month and a half, almost reaching a historical high.

The recent surge in SUI's price is driven by institutional funding, with the narrative being "replace Solana." The influx of capital has not only increased the price of SUI but has also led to a comprehensive rise in TVL, project valuations, and even meme coins within its ecosystem. Let's take a look at a few representative projects in the SUI ecosystem that are worth noting.

Cetus

Cetus is the largest decentralized exchange in the SUI ecosystem, utilizing a concentrated liquidity mechanism similar to Uniswap V3. Its product line includes DEX, liquidity pools, yield aggregators, and integrates order book and cross-chain functions. Cetus's Launchpad platform is a major highlight, providing IDO services for SUI ecosystem projects, with multiple past projects being oversubscribed.

Currently, Cetus has a locked value of over $200 million, ranking fourth in the SUI ecosystem. Its native token $CETUS has recently performed strongly, rising 180% in the last 30 days, approaching its all-time high. The current market value is approximately $54.52 million.

NAVI

NAVI is the first native one-stop liquidity protocol on SUI, providing lending services similar to Aave. It currently supports various mainstream assets, and the deposit interest rates are quite attractive. NAVI is the project with the highest locked value in the SUI ecosystem, with a recent growth of 52%, totaling 500 million USD.

However, the performance of its token $NAVI is not as impressive as the product. Although it has risen over 150% recently with SUI, it is still far from its historical high. The current market capitalization is approximately 36.62 million dollars.

Scallop

Scallop is another lending protocol on SUI, which completed a $3 million financing in March this year, with investors including the SUI development team Mysten Labs and others. In April, it also received a strategic investment from DWF Labs, which will provide liquidity support for Scallop.

After its token $SCA was launched, it experienced a decline, but recently it has slightly recovered, although the increase is not as significant as SUI. The current market value is approximately 20.34 million dollars.

Meme Coin Project

There are also meme coin projects in the SUI ecosystem, with some well-known ones including:

• HIPPO: Inspired by the Thai internet celebrity hippo, current market value is approximately $148 million.
• AAA: A meme coin themed around the image of a black cat, which has seen significant price increases recently, with a market cap of about 19 million dollars.
• BLUB: Once the number one meme coin in the SUI ecosystem, its image is a fish with a Pepe face, and its current market value is about 40 million USD.

The rise of these projects reflects the vitality of the SUI ecosystem, but investors still need to carefully assess their long-term value and risks.