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Sui is a layer-1 network designed for worldwide use in mind. It integrates Move language with an object-centric approach to overcome current blockchain restrictions while targeting security and scalability goals. Supported by its horizontal growth for fast, stable transactions, it improves Web3 user experiences with promoted payments.
Sui is a cryptocurrency project that many investors might not be familiar with. Sui has surged almost 124% over the last month, making it one of the top-performing cryptocurrency projects. It is currently the 18th-largest project by market capitalization.
Sui Rise
As of 3 p.m. ET, Sui has increased 12.4% just in the last 24 hours, placing it among the top-performing large-cap tokens available.
Sui's remarkable rise during the past month can be connected to the news that the Sui network will host Circle's USDC stablecoin release. As of the time of writing, Sui's native coin had increased by about 100% since the day before the announcement, which happened on September 17. For investors, that is a very fair return in a relatively short period of time.
It remains to be seen if this momentum can be maintained. Let us examine this particular catalyst in greater detail and discuss the possible implications for Sui's future performance.
USDC Launch
Circle's USDC is the second most used stablecoin globally, and it is also the currency used for a sizable portion of on-chain transactions.
When the second-largest stablecoin in the world is accepted as currency on Sui's Layer-1 blockchain and smart contract network, investors who are positive about this project's potential for creativity in the decentralized finance space by simplifying and boosting the effectiveness of various applications will be more encouraged.
It appears that a lot of investors think that adding the Circle stablecoin to Sui's framework will attract developers to create more on-chain apps, expand Sui's network, and generate some network effects that might be challenging for competitors to overcome.
Is this Surge possible to continue?
Sui is definitely a top project worth considering when it comes to cryptocurrency projects with significant catalysts. The technological foundation of the blockchain network is outstanding, and the integration of USDC should contribute to its growth. The Sui team keeps up its efforts to enhance user experience and develop new and interesting applications for the Sui network.
As of right now, this token appears to have the potential to be a breakthrough competitor by year's end.
