Amid weakening demand for Bitcoin and Ethereum exchange-traded funds, US-listed SUI ETFs are shifting in the other way.
The funds have recorded 5 consecutive weeks of inflows.
Recent Catalysts
The funds have accrued round 14 million SUI throughout that interval. A number of developments are including to the momentum, in keeping with the most recent findings by Ali Martinez. These embody AI agent funds, cellular USDC, Bitcoin finance, and cross-chain transfers, that are strengthening the community’s outlook.
With these catalysts gaining consideration, the analyst stated that “SUI seems to be making ready for its subsequent leg increased.” This week, the SuperTrend indicator additionally flashed a purchase sign on its 4-hour chart. The final time the same sign appeared, SUI rallied over 77%.
Final week had quite a bit happening for Sui. One of many greatest highlights got here at Basecamp, the place the community reportedly dealt with over 40 million transactions per second throughout a reside stress check, which is greater than six instances its earlier file. The check simulated AI-agent exercise utilizing over 10,000 programmable tunnels, with transactions settled on Sui.
Sui additionally introduced a collaboration with Alibaba Cloud to carry cloud and AI inference providers into its Agent Funds system. This might enable AI brokers to pay for providers utilizing stablecoins inside set spending limits. One other growth includes Samsung Pockets. Sui is being built-in into its USDC providing, which targets 82 million eligible Galaxy units in america. The mixing will assist stablecoin transfers with out fuel charges.
In the meantime, Sui’s Bitcoin finance challenge, Hashi, is making ready for a phased mainnet rollout this month. It has secured over $500 million in capital commitments, attracted greater than 20 taking part establishments, and named Anchorage Digital as a launch associate. Circle’s Cross-Chain Switch Protocol V2 has additionally launched on Sui. This permits native USDC to maneuver between Sui and 29 different supported blockchains, opening extra choices for funds and DeFi.
In one more milestone, the community surpassed 5 billion whole transactions. In line with BSCN, the determine now stands at round 5.02 billion, placing it forward of many main Layer 1 networks.
Outages
Whereas the community has reported 100% uptime over the previous 30 days, it did face just a few main setbacks earlier this 12 months. In Could, as an illustration, Sui suffered three main outages inside 48 hours, leading to greater than 15 hours of downtime.
Previous to that, a consensus bug halted block manufacturing and transaction processing for round 5 hours and 52 minutes in January. Validators finally restored regular operations.
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