SUI Coin

SUI Coin Review: Price predictions & Analysis

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A new Solana killer has arrived. I am of course referring to SUI. Visit website here.

Sui Coin has raised hundreds of millions of dollars from some of the biggest investors in crypto and its next Generation blockchain recently went live.

So today I’m going to tell you everything you need to know about sui coin including where it came from how it works and where this crypto project could be headed and it’s price prediction and analysis.

What is SUI COIN?

 The story of Sui coin begins with its five Founders.

All five have seriously impressive resumes and used to work at Novi Financial the company that was building products for Facebook’s Libra namely the Novi wallet.

You may know that it failed to get off the ground because of intense regulatory scrutiny around the world. Also know that it rebranded to Diem and changed its Mo to comply with regulations but it didn’t work Diem was officially shut down in January 2022.

Obviously suey’s Founders saw this coming from a mile away to ensure they could continue their crypto Journey they founded Mysten Labs in September 2021 a software company based in Palo Alto California.

As per its website Mysten Labs is working on both SUI and the move programming language.

Evan is the CEO

Adeniyi is the CPO

Sam is the CTO

George is the chief scientist

Costas is the chief cryptographer

From what I’ve seen Evan has become the de facto face of the company and he has some interesting motivations. Evan has apparently been involved in the crypto industry since 2016 though it’s not clear how or which projects He was involved in.

What is clear is that Evan believes that Bitcoin is digital gold and that he was inspired by Ethereum to work in crypto.

From what I can tell he wants SUI COinto compete with Ethereum.

Evan mentioned in an interview that he wanted to start his own crypto project during the 2017 bull market but was concerned that he wouldn’t be able to build a good team given the skepticism of crypto in Silicon Valley he wanted to work on Facebook’s Libra because he thought he could create a team there.

Now according to Crunchbase Mysten Labs raised 36 million dollars from Andreessen Horowitz in December 2021 it then raised an additional 300 million dollars from multiple crypto VCS 100 million of which came from FTX. Other investors included Binance labs and Coinbase

The good news is that Mysten Labs bought back FTX’s stake from the bankruptcy estate in March for slightly less than the initial purchase price.

The bad news is that this still costs Mysten Labs almost 100 million dollars.

While Mysten Labs built the sui blockchain the latter’s ongoing development is coordinated by the sui Foundation which was founded in October last year and is based in the Cayman Islands.

SUI Mainnet was launched on the 3rd of May after only a year of testing this speed was likely due to the fact that most of the work on SUI was already done during the Libra years.

SUI was immediately listed on all the top cryptocurrency exchanges.

How does SUI works?

The SUI blockchain uses a delegated proof-of-stake consensus mechanism that’s capable of processing 300,000 transactions per second. However Evan and adeniyi explained in an interview last year that sui will initially have limited throughput.

Unfortunately it’s not clear what SUI’s current TPS ( Transactions per second ) is fortunately it’s clear that sui is very fast and this is for a few reasons.

  1.  Firstly the SUI blockchain only has 100 validators this makes it pretty centralized compared to most other cryptocurrencies the trade-off is that sui is significantly faster and more secure than most cryptocurrencies per the blockchain trilemma.
  2. Secondly series validator nodes do not store the blockchain’s full transaction history just the state this makes it easier for them to process transactions SUI’s documentation notes that the full nodes store the full transaction history currently has around 2,000 full nodes this adds to its decentralization.
  3. Only complex transactions require consensus simple transactions do not require consensus and are processed in parallel a technology called Narwhal ensures that pending transactions requiring consensus are quickly identified and a technology called Bull Shark ensures they’re processed in order.

Now this is all made possible by the fact that the SUI Blockchain orders itself around objects AKA tokens instead of accounts AKA crypto wallets.

For context most smart contract cryptocurrencies such as Ethereum are account based they keep track of what accounts are doing balances transactions Etc.

By contrast the SUI Blockchain keeps track of what objects are doing this is a small but significant difference.

Because it means that you don’t need to interact with a smart contract every time you move an object like an Nft or token this reduces transaction fees and increases transaction speeds.

Evan has gone as far as arguing that object orientation is the only way you can truly own your on-chain assets Account orientation means that your on-chain assets are technically locked in smart contracts object orientation basically takes a token like USDT out of its smart contract and puts it into your wallet.

Now SUI’s object orientation is in turn made possible by its move programming language.

Why they created SUI Move Programming Language?

Move is a new programming language created by DIEM’s developers in fact Move was invented by sui co-founder Sam now SUI uses a modified version of move called sui move.

Which includes object orientation this is important to note because of the developer landscape Aptos also uses move and flow uses Cadence also a modified version of move.

Move itself is based on Rust which is used by Solana Polkadot and Near Protocol as such you could say SUI is a competitor to all of the above at least for developers.

SUI Tokenomics & it’s potential

In terms of Tokenomics, SUI is the native coin of the SUI blockchain it’s used to pay for transaction fees for staking and will be used for governance.

What’s fascinating is that sui uses a storage reward structure similar to our weave which ensures validators are compensated for storing past transactions.

Like our weave’s storage endowment SUI’s storage fund takes a portion of transaction fees aside for future block rewards unlike our weave SUI takes this portion of transaction fees and Stakes them these extra staking rewards are distributed to validators as needed. Initial fee stake is never removed.

Another difference between our Weaver and SUI is that users can delete their on-chain data in exchange for a portion of the storage fees they paid.

SUI’s documentation notes that the delete option does not include the deletion of past transactions just data related to things like Nft, Metadata.

When it comes to staking staking rewards are currently around 8% for both validators and delegators.

Sui’s documentation notes that validators must have at least 30 million sui staked in their pool to participate.

Thankfully delegation can be easily done with no minimum stake using the Suri wallet

Suri’s documentation also notes that validators could see their stake and even staking rewards slashed if they misbehave.

It’s unclear if this punishment applies to delegated Stakes for what it’s worth SUI’s validators were hand-picked by the SUI Foundation the unstaking period is also less than a day and this relates to SUI’s initial distribution.

SUI has a maximum supply of 10 billion which is distributed as follows

SUI Tokenomics

20% to early contributors

14% to investors

10% to Mysten Labs

6% to community testers

50% to the sui Foundation

There will be a massive token unlock in November this year in May next year and in May 2025.

This could result in significant cell pressure considering that SUI was sold for 3 cents a pop to a16z and 10 cents a pop to the other crypto VCS.

It’s also possible that there’ll be cell pressure from the regular folks who participated in the SUI token sales on kucoin, okx and buy bit given they got it at similar prices.

Luckily Finance CEO CZ prevented Tron founder Justin Sun from gobbling up all the SUI offered by a BNB and TUSD farming.

On the demand side meanwhile sui seems to be of interest to institutional investors in the United States this is because it recently partnered with BitGo for institutional sui custody.

This is impressive considering Evan noted in an interview that sui is focused on Asia for adoption and investment.

So far SUI has managed to secure a partnership with Chinese commercial giant Alibaba specifically its Cloud division. As you might have guessed the partnership will see Alibaba provide node and validator services for the Suri blockchain depending on how this is done it could affect SUI’s decentralization.

So he seems to have had a bit of retail interest as well.

The sui wallet browser extension has been downloaded over 1 million times and there are almost 200 Dapps on its blockchain already.

What’s strange is this is inconsistent with SUI’s blockchain data which says there are only 400k wallets.

Despite the apparent interest in SUI its price has so far failed to perform.

In series defense the project is brand new and launched in the middle of a crypto bear Market.

SUI Roadmap

SUI reaches its full price potential ultimately depends on its roadmap although sui doesn’t appear to have an official roadmap, Binance researches article on the project contains a few milestones and many more can be found in interviews with the founders.

The Binance research roadmap notes that sui will be introducing zero knowledge proof logins sometime this quarter presumably for on-chain privacy protection.

Milestones for Q3 and Q4 include the creation of new node types improving the move developer experience and better storage pricing economics.

On that note Mysten Labs’s Chief Economist revealed in a September interview that sui is focused on blockchain storage they are hyper aware that having a blockchain as fast as SUI’s is going to result in lots of storage demand.

Hence the plans for archival nodes and improved storage economics he also revealed that he had attended a conference hosted by USDC issuer Circle and later discussed the topic of stable coins in suey’s ecosystem.

Sui also seems to be super focused on gaming in an interview with decrypt Mysten Labs’s head of gaming Partnerships revealed that over 40 blockchain games are already building on SUI.

Evan also said in his aforementioned interview that sui was super focused on mobile games in Asia and just a few days ago the sui Foundation announced the introduction of sui Improvement proposals or sips allowing the community to propose future milestones for the project.

SUI seems to be focused on building out its ecosystem via the sui Foundation.

The foundation has been doing this by issuing developer grants as well as academic research grants, the foundation is also trying to expand its ambassador program which only seems to have three people.

Regardless it’s possible that the foundation will soon be publishing an updated roadmap then again it’s also possible that the foundation and Mysten Labs don’t want to do or say anything that would classify the sui coin as a security in the eyes of U.S Regulators like the SEC case.

SUI has yet to list on U.S exchanges despite being comparatively similar to Aptos which has been listed by Coinbase.

SUI has enough Runway to survive what’s left off the bear Market. Evan confirmed back in December that it does and Asia’s upcoming Embrace of crypto should further extend this Runway however surviving doesn’t mean succeeding and sui faces lots of barriers to success.

SUICOIN Concerns

Firstly It looks as if the project was rushed probably because it’s openly competing with Aptos whether it’s the sui Foundation setup or even just the sui website.

It really seems like everything was just slapped together as quickly as possible this could be explained by the fact that sui hasn’t been as focused on marketing and presentation as other crypto projects.

This is something that ever noted in an interview and it makes sense considering that all five Founders are hardcore developers chances are they don’t know all that much about marketing.

Our second concern is competition as I mentioned earlier sui faces lots of competition from a long list of crypto projects including Aptos Solana and near protocol.

While sui seems to be targeting blockchain gaming it doesn’t have a primary point of focus and that’s a problem to their credit.

The SUI team is slowly but surely becoming aware of the fact that sui needs to carve out its own Niche if it wants to thrive I hope the Project’s Mission will be something other than quote onboarding the next billion users because otherwise it will just be yet another layer 1.

Our third concern and that is adoption you’ll recall that there are only around half a million Wallets on the Sui blockchain.

This is understandable given how new the project is but low transaction volume and total value lock statistics underscore the fact that sui is not being used all that much again.

This should improve as Asian countries like Hong Kong introduce sensible crypto regulations.

The problem is there’s no guarantee that retail investors will be allowed to invest in Surrey focusing on Asia is also inconsistent with Libra initial target audience of the US and the West.

Our fourth and final concern and that is regulation the fact that sui is a de facto continuation of Facebook’s DEIM under a different name.

Means it’s likely to face regulatory scrutiny consider that the regulatory pushback against crypto began when Libra was first revealed in 2019.

Since that time governments around the world have been terrified that a big tech company will develop a digital currency that will compete with their National currencies.

USDC on sui will look similar to Libra and that will raise red flags.

SUI partnering with big tech companies would have the same effect and Sui’s relationship with Libra could also make it difficult for its coin to list on U.S exchanges.

It is possible that sui won’t be accessible to U.S investors until further guidance on regulations is given.

SUI COIN Price Prediction

YearPredicted Price
2023$1 – $2.5
2024$0.5 – $2
2025$10 – $50
2030$100 – $210
2040$250 – $550
2050$650 – $1000
Disclaimer : The predicted price shown above is just for educational purposes and it should not be taken as financial advice.

Conclusion

And that is our deep dive into sui for you folks all in all I think this crypto project has serious potential but it’s honestly too soon to say.

There’s no question that its technology is Cutting Edge but its adoption has been questionable even by bear Market standards.

Mysten Labs has some of the most impressive Personnel I’ve ever seen.

I’m confident that SUI’s adoption will improve as more meaningful Milestones are met and the bull market will create a multiplier effect.

Sui could very easily become one of the top performing cryptocurrencies in the next cycle and you can rest assured that I’ll be keeping a close eye on it I may even add it to my crypto portfolio in the coming months.

This was it for this article please Rate this post if you liked it and subscribe to our website and please keep visiting InvestinDollar.Com

What is Sui coin?

A cryptocurrency made specifically for gaming is called Sui coin. It is an Ethereum blockchain-based decentralized token. The native currency of the Sui ecosystem, a platform for gaming and non-fungible tokens (NFTs), is called Sui coin.

How does Sui coin work?

In the Sui ecosystem, Sui coin can be used to buy and sell goods. Additionally, it can be used to take part in games and win prizes. Since Sui coin is a deflationary token, its supply is gradually getting smaller. Sui coin is a wise investment for those who think that gaming and NFTs have a bright future.

What are the benefits of using Sui coin?

Here are some of the benefits of using Sui coin:
1. Decentralized:** Sui coin is a decentralized token, which means that it is not controlled by any central authority. This makes Sui coin a more secure and transparent currency.
2. Fast and cheap transactions:** Transactions on the Sui network are fast and cheap. This makes Sui coin a good choice for gaming and other applications where speed and cost are important.
3. Scalable:** The Sui network is scalable, which means that it can handle a large number of transactions. This makes Sui coin a good choice for future growth.

What are the risks of using Sui coin?

Here are some of the risks of using Sui coin:
1. Volatile price:** The price of Sui coin is volatile, which means that it can go up and down quickly. This makes Sui coin a risky investment.

2. New technology:** Sui coin is a new technology, and there is no guarantee that it will be successful.

3. Regulation:** Sui coin is a cryptocurrency, and it is subject to regulation by governments. This could impact the value of Sui coin.

What is the Sui ecosystem?

A platform for gaming and non-fungible tokens (NFTs) is the Sui ecosystem. Sui coin serves as its native token, and it is constructed on the Ethereum platform. Users can create, play, and trade gaming assets using a range of games, NFTs, and tools that are part of the Sui ecosystem.

What are some of the games in the Sui ecosystem?

Some of the games in the Sui ecosystem include:
1. Sui Legends:** Sui Legends is a multiplayer online battle arena (MOBA) game that is played on the Ethereum blockchain. Players can use Sui coin to buy and sell items in the game, and they can also earn Sui coin by playing the game.

2. Sui Shooter:** Sui Shooter is a first-person shooter game that is played on the Ethereum blockchain. Players can use Sui coin to buy and sell items in the game, and they can also earn Sui coin by playing the game.

3. Sui Racing:** Sui Racing is a racing game that is played on the Ethereum blockchain. Players can use Sui coin to buy and sell cars in the game, and they can also earn Sui coin by playing the game.

What are some of the NFTs in the Sui ecosystem?

Some of the NFTs in the Sui ecosystem include:
1. Sui skins:** Sui skins are NFTs that can be used to change the appearance of characters in Sui games.

2. Sui weapons:** Sui weapons are NFTs that can be used to improve the performance of characters in Sui games.

3. Sui land:** Sui land is NFTs that can be used to build games and other applications on the Sui ecosystem.

Is Sui coin a good investment?

Sui coin is a new cryptocurrency, and there is no guarantee that it will be successful. However, Sui coin has the potential to revolutionize the gaming industry, and it could be a good investment for people who believe in the future of gaming and NFTs.
Here are some things to consider when deciding whether or not to invest in Sui coin:
* The team behind Sui coin: The team behind Sui coin is experienced in the gaming and blockchain industries. They have a good track record of success, and they are committed to making Sui coin a success.
* The technology behind Sui coin: The technology behind Sui coin is sound and scalable. It has the potential to handle a large number of transactions, which is important for gaming.
* The market for Sui coin: The market for gaming and NFTs is growing rapidly. This could create a demand for Sui coin, which could drive up its price.

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