- Bitcoin and altcoins such as Sui had endured days of dipping
- Sui was trading at $4.24, up 5.07% in the past day
- The most significant increase was in the volume of trade, which surged by 58.61% over the past day to $1.49 billion
One of the breakout cryptocurrencies of 2024 and the native currency of the Sui Network, Sui, has rebounded after some days of dipping, which has been affected by general market sentiments.
Bitcoin and altcoins such as Sui had endured days of dipping, which experts believed provided some stability after the market witnessed an impressive bull run during which several cryptos, including Bitcoin, hit a new high.
At the time of writing, Sui was trading at $4.24, up 5.07% in the past day. Despite the increase, it was still shy of the $4.7 it traded on the 24th of this month and $4.5 on the 25th. But today’s price significantly improved on the $4.2 and $4.0 traded on the 29th and 30th, respectively.
The coin’s market capitalisation also increased by 5.07% to $12.42 billion in the past 24 hours. The most significant increase was in the volume of trade, which surged by 58.61% over the past day to $1.49 billion. This surge is significant given that it was at $971 million and $879 million on the 29th and 30th of this month, respectively.
According to Coinmarketcap data, despite the improvement, the 7-day price of Sui is still down 7.86%. However, the coin is regarded as one of the most stable and best-performing coins in 2024. Since its launch in May 2023, it has moved from less than $2 to over $4, experiencing about 147%.
This year, it moved from less than $1 in January to more than $4 on December 31, posting an impressive increase of 424.05%. Now, Sui is regarded as the ‘Solana killer’ because of its focus on Decentralised Finance and impressive blockchain technology
What is SUI, and why is it performing well?
Sui token (SUI) is the native cryptocurrency of the Sui network. It is designed to be used for value exchange, governance, and transaction fees within the Sui ecosystem.
Sui is a ground-breaking layer-1 blockchain platform that provides a safe, strong, and expandable development environment to meet the demands of worldwide adoption. Fundamentally, Sui uses the safe Move programming language and a new object-centric data model to solve the inefficiencies found in current blockchain architectures.
Hamster Kombat loses 18 million players, 98% of trading volume
Meanwhile, TheRadar earlier reported that the popular Telegram-powered tapper game Hamster Kombat lost over 18 million players between November and today. The game’s token HMSTR also lost 97% of the trading volume reported on November 10.
Hamster Kombat was one of the most popular Telegram-powered tappers on Web3. In August this year, the game’s developers claimed to have over 300 million active players. However, the game has seen a continuous, massive decline since the HMSTR token listing and the start of trading.
