Sui (SUI) has surged 330% annually, reaching a $5.5 billion market cap

Can SUI price sustain its momentum? Here’s another top altcoin to watch As an emerging Layer-1 blockchain, Sui aims for global adoption with a focus on gaming and the Asian market. Meanwhile, Pepe Unchained hit a $20 million presale milestone, targeting Layer-2 solutions for memecoins

Sui (SUI) is one of the hottest altcoins this season. In the recent rally, SUI exploded to a market cap above $5.5 billion, occupying the 18th ranking on the global crypto chart.

However, SUI is just one of many altcoins in the spotlight. Upcoming Layer-2 blockchain Pepe Unchained just hit the $20 million milestone. The project is building a secondary layer dedicated to memecoins.

SUI surges ahead
SUI has recorded a growth above 330% on the annual chart. Despite the recent ups and downs in the broader market, SUI has surged above 100% over the last 30 days to become one of the most trending crypto coins this month.

Sui is an emerging Layer-1 blockchain ecosystem that has its eyes set on global adoption. It aims to make this possible by designing a secure and scalable ecosystem for crypto projects.

SUI one-year price performance, source: CoinMarketCapThe project’s core attractions are its object-centric data model and variation of the Move programming language. It is based on the technology originally designed for Libra (Diem), Facebook’s stablecoin, which was wound down due to regulatory concerns.

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While SUI is trending now, investors remain sceptic: can the project substantiate the hype surrounding the coin? Crypto influencer GONZO (@GonzoXBT) shares some interesting insights about Sui’s road ahead.

https://x.com/GonzoXBT/status/1843328309964485073
An emerging star in the blockchain market
As the name implies, SUI (water in Japanese) is focused on adaptability. But that just gives the surface-level picture. Diving deep, things are more complex.

The programming language (Sui Move) is a variation of the Move language, which is based on Rust. Leading blockchain platform Solana uses Rust, as it is accessible for non-crypto developers.

Since Sui Move facilitates parallel execution of some transactions, it can potentially increase the chain’s throughput. That leads to lower transaction fees during volatile periods.

While Solana targets a broad range of projects, Sui has narrowed in on the gaming sector. In addition, it is primarily targeting the Asian market for institutional partnerships and adoption. Asian markets have a history of kindling wild crypto pumps, especially in the memecoin niche. But those pumps are often followed by tragic dumps.

SUI is not comparable to Layer-1 blockchains like Ethereum that are optimised for decentralisation. Like Solana, Sui focuses on speed instead.

Are VCs waiting to cash out on SUI?
Although SUI’s blockchain principles are comparable to Solana, that doesn’t necessarily mean it can reach the same levels of success soon. Solana is the world’s fifth-largest cryptocurrency, with a market cap of $67 billion.

The TVL (Total Value Locked) also gives a similar picture. The TVL on SUI is growing, but it still has a long way to go. SUI recorded the highest increase in TVL recently, compared to the top eight chains, including Base, Avalanche, Solana, BSC, Ethereum, Arbitrum, and Tron.

Source: @GonzoXBT on X, DeFiLlamaThere are also concerns about whether VCs are waiting to cash out on SUI and if the coin’s growth is substantiated by strong fundamentals.

“Sui has a lot of tokens that are still locked. In fact, there was a $114M monthly unlock just a few days ago. That unlock went partly to VCs that bought the tokens for $0.03 or $0.10 per SUI. Those VCs will want to sell because they’re up a ton. But on the other hand, there are way more unlocks to come, so they’re incentivised to keep pumping the price,” notes crypto analyst Gonzo.

He adds that a lot of capital on Sui will go elsewhere if better opportunities show up.

Layer-2 for memecoins: Pepe Unchained turns heads with $20 million presale
Another hot crypto this season is Pepe Unchained (PEPU). It just went past the $20 million milestone in its presale.

While SUI is focused on building a scalable primary layer, Pepe Unchained is stepping into the Layer-2 market currently dominated by projects like Polygon and Arbitrum.

It combines the light-hearted nature of meme culture with practical utility. Although memecoins typically gain traction through quirky themes and speculation, Pepe Unchained aims for more.

The Layer-2 blockchain intends to make trading faster, cheaper, and easier. The profitability of memecoin traders is heavily impacted by network clogs, especially during periods of market volatility. Pepe Unchained aims to solve problems like transaction delays and high fees.

The Pepe-inspired branding brings a fun and familiar memecoin appeal, while the Layer-2 technology appeals to more serious investors. The project’s narrative revolves around Pepe moving beyond Layer-1 limitations with a ‘giga brain idea’.

Crypto influencers such as ClayBro have picked Pepe Unchained as a top altcoin to watch.

https://youtu.be/BYIeoUAjoYc?feature=shared

Currently, $PEPU is priced at $0.00994 in the presale. Early investors have the opportunity to stake their tokens right from the presale phase. Crypto projects use staking to encourage long-term holding and discourage early sell-offs. $PEPU staking rewards will be distributed over a two-year period.

Pepe Unchained has built a growing community. It has over 38,000 followers on X (Twitter) and 9,000 members on Telegram now. The launch of its Layer-2 blockchain is scheduled after the presale.

Early investors can purchase $PEPU at fixed, discounted prices in the ongoing presale before it becomes available on exchanges. The prices will rise as the presale enters new stages.

Visit the Pepe Unchained (PEPU) presale

Name: Pepe Unchained
Email: [email protected]

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This story originally appeared on: India Times - Author:Faqs of Insurances