The Sui ecosystem is growing by leaps and bounds, and its native token has surged more than 300% in the last year. Some specific altcoins on the network are growing even faster than this jaw-dropping growth, grabbing investors’ attention. Bluefin, one of the early leaders, hit more than $1 billion in perpetual trading volume in June.
Among Sui’s DEXs, Bluefin ranks as the third largest, according to total value locked (TVL). On its platform, you can achieve stablecoin yields over 8% on certain deposits. This unique mix of trading activity and yield opportunities place Bluefin at the center of the Sui ecosystem, making it a powerful player.
In fact, last month, Sui overtook Solana in stablecoin transactions for the first time. This milestone truly marks Sui’s increasing recognition and importance in the world of blockchain technology. This milestone highlights the rapid adoption and growing usefulness of the Sui network. As the ecosystem’s three best performing altcoin undercurrents continue to gather serious upward momentum suggesting breakout continuation potential this market's cycle.
De la Torre explained that despite its high growth, Bluefin’s native token, BLUE, today sells for less than $0.10. Now that the BLUE token launched at $0.26, its current price is of keen interest to investors. With BLUE token prices trading below their launch price, Bluefin continues to perform extremely well.
The Sui ecosystem is indeed promising, with projects such as Bluefin displaying extremely high annual growth rates and major trading volume. The network is theoretically capable of handling four times the stablecoin transaction volume that Solana does. This illustrates how increasing important role it playing in today’s decentralized finance (DeFi) ecosystem. This innovation growth is a positive development for the future of the Sui blockchain and projects built on it.
