While everyone’s talking about Bitcoin breaking past $123,000, the Sui blockchain is quietly making big moves of its own. Its native token has jumped over 300% in the past year, and a few projects in its ecosystem are growing even faster.
Here’s a quick look at three promising altcoins from the Sui network that investors have their eyes on right now:
Bluefin (BLUE)
Bluefin is now the third largest decentralized exchange (DEX) on the Sui network by total value locked (TVL).
In June alone, Bluefin recorded over $1 billion in perpetual trading volume, and the platform offers some of the highest stablecoin yields in the market, over 8% on certain deposits. Interestingly, Sui processed more stablecoin transactions than Solana for the first time last month.
Related: June CPI Report Looms Large as Inflation Heats Up, Crypto Surges Ahead
Source: CoinMarketCap
The Bluefin token, BLUE, launched at $0.26 but currently trades under $0.10, presenting what some see as a discounted opportunity given its growing usage and upcoming product releases.
Sui Network (SUI)
The analyst said that the list is incomplete without the network’s native token itself: SUI. The token has been one of the strongest performers in this market cycle, rising nearly 80% in the last three months alone.
Sui’s DeFi sector is expanding rapidly, with DEX aggregators and services like Threshold’s decentralized Bitcoin (tBTC) product gaining traction. On its first day, tBTC saw almost $1 million in total value locked (TVL).
Source: CoinMarketCap
With Sui’s current price sitting just below $4, still below its all-time high of $5.35, the analyst said that it could soon reclaim and surpass those highs as its DeFi and NFT activity keeps building.
Double Up (UP)
A newer addition to the Sui ecosystem is Double Up. The project’s native token, UP, launched at $0.49 and has since doubled, now trading over $1, a 100% gain in three months.
Related: Bitcoin Leads, But Altcoins Are Lining Up for a Breakout
Despite its relatively small market cap of around $15 million, Double Up has processed over $188 million in transactions and recently introduced its own stablecoin, UPUSD, giving users extra buying power on the platform.
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