The SUI ecosystem projects are rising strongly, overview of main applications and popular tokens

Recently, the focus of the cryptocurrency market has been mainly concentrated in two directions: the continued popularity of meme coins and the strong performance of the SUI public chain. As an emerging Layer 1 project, SUI has been controversial due to its token distribution method, but the recent coin price has performed impressively, soaring from $0.76 at the beginning of September to $2.16, nearing its historical high, with an increase of 185%.

This round of SUI frenzy is driven by institutional funds, revolving around the narrative of "surpassing Solana." The influx of capital has not only pushed up the price of SUI but also stimulated the prosperity of the entire ecosystem, including an upward trend in total value locked (TVL), ecological projects, and even the prices of related meme coins.

Let's delve into several important projects and tokens worth noting in the SUI ecosystem.

Main Application Projects

Cetus: The leading DEX of the SUI ecosystem

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 project launchpads. Cetus also integrates a central limit order book and cross-chain bridge functionality, providing users with a comprehensive trading experience.

The launchpad feature of Cetus is one of the key factors for its rise as a leading DEX, providing an important financing channel for SUI ecosystem projects. Currently, Cetus's locked value exceeds $200 million, ranking fourth in the SUI ecosystem, with a growth of 83% over the past month.

The $Cetus Token has increased in price by 180% in the last 30 days, currently approaching $0.17, and is about to challenge the historical high of $0.186. The current market capitalization is approximately $54.52 million.

NAVI: The Lending Giant of the SUI Ecosystem

NAVI is the first native one-stop liquidity protocol on SUI, providing lending services similar to Aave. It currently supports various assets such as SUI, vSUI, NAVX, USDT, USDC, etc., with a stablecoin deposit annual yield of about 7%, while SUI yields 4%.

NAVI is the project with the highest locked assets in the SUI ecosystem, reaching $500 million, with a growth of 52% over the past month. However, the performance of its Token $NAVI has lagged relatively, although it has risen over 150% in the last 30 days, it is still quite far from its historical high. Currently, the price of $NAVI is approximately $0.15, with a market capitalization of $36.62 million.

Scallop: A lending protocol favored by capital.

Scallop is another important lending protocol in the SUI ecosystem. In March of this year, Scallop completed a strategic financing of $3 million, with investors including well-known institutions like CMS Holdings, 6th Man Ventures, and SUI's parent company Mysten Labs.

At the end of April, Scallop received strategic investment from DWF Labs, which will provide primary liquidity support for Scallop's centralized exchange and assist with its over-the-counter trading business.

$SCA Token experienced a decline after its launch, but has recently shown a slight recovery, rising by 52%. Currently, the price of $SCA is approximately $0.376, with a market cap of $20.34 million.

Meme Coin of the SUI Ecosystem

HIPPO: SUI version "Little Hippo"

HIPPO is the "Little Hippo" Token in the SUI ecosystem, inspired by the Thai internet celebrity hippo "Bouncing Pig". This concept initially became popular on the Solana chain, then expanded to Ethereum, and is now successfully replicated on SUI.

The current price of HIPPO coin is approximately $0.0148, with a market capitalization of $148 million and a 17% increase over the past week.

AAA: Black Cat Meme Coin

AAA is represented by a black cat, originating from an emoji pack on the SUI domain service. It is one of the few non-aquatic-themed meme coins in the SUI ecosystem, and the community compares it to the well-known meme coin Popcat on Solana.

The current price of AAA is approximately $0.0019, with a rise of up to 293% in the past seven days and a market capitalization of about $19 million.

BLUB: The former king of SUI meme coins.

The image of BLUB is a fish with a Pepe expression, and it was once the most popular meme coin in the SUI ecosystem. Since its release on September 1, the market capitalization of BLUB has skyrocketed from 3.5 million USD to a peak of 48 million USD, achieving an 11-fold increase.

The current price of BLUB is approximately $0.0000123, with a market capitalization of $40 million, which has recently seen a pullback.

As the SUI ecosystem continues to develop, the performance of these projects and tokens is worth ongoing attention. However, investors should carefully assess the risks, especially when participating in meme coin investments.