Emre Yumlu 
The Sui Ecosystem is an innovative blockchain platform that has garnered significant attention in the cryptocurrency world in recent times. Known for its high transaction speed and low costs, Sui supports a wide range of applications, including decentralized finance (DeFi), NFTs, and meme coins, offering a robust ecosystem. Built with the Move programming language, this blockchain provides a secure and scalable infrastructure. Sui aims to create an attractive environment for developers and investors, serving as an ideal platform for next-generation decentralized applications (dApps).
In recent days, some projects within the Sui Ecosystem have made headlines due to adverse events, such as hacks, but these incidents do not overshadow the ecosystem’s overall potential. For instance, projects like Cetus Protocol are showing signs of recovery despite challenges. In this article, we will explore the prominent altcoins in the Sui Ecosystem in detail, covering their purpose and current financial metrics.
Prominent 8 Altcoins in the Sui Ecosystem
1. Cetus Protocol (CETUS)
Cetus Protocol is a decentralized exchange (DEX) and concentrated liquidity protocol built on the Sui and Aptos blockchains. It offers DeFi users more efficient trading and liquidity provision opportunities. Cetus contributes to the ecosystem through liquidity pools, aiming to create a sustainable platform for both developers and investors. Currently, Cetus is priced at $0.1162, with a market capitalization of $95.42 million and a fully diluted valuation of $116.22 million.
2. DeepBook Protocol (DEEP)
DeepBook Protocol is designed as the native liquidity layer of the Sui network, functioning as a fully on-chain central limit order book (CLOB) protocol. Thanks to Sui’s parallel transaction execution model, orders are processed with low latency, averaging 390 milliseconds, making it ideal for high-frequency and high-volume transactions. DeepBook enables DeFi protocols and wallets to access a shared liquidity pool, forming a foundational infrastructure for the ecosystem. DeepBook’s current price is $0.1925, with a market capitalization of $641.32 million and a fully diluted valuation of $1.92 billion.
3. Haedal Protocol (HAEDAL)
Built on the Sui blockchain, Haedal Protocol stands out as an innovative liquid staking protocol. Users can stake their SUI tokens to contribute to the network’s security while receiving haSUI, liquid staking tokens, in return. These tokens allow users to freely utilize their assets within the DeFi ecosystem, eliminating the limitations of traditional staking methods. The Haedal Protocol excels with a system that maximizes capital efficiency and offers sustainable yield opportunities through protocol-based solutions like the Haedal Market Maker (HMM). This makes it more than just a staking platform, providing a comprehensive DeFi infrastructure. Currently priced at $0.1689, the protocol has a market capitalization of $35.4 million and a fully diluted value (FDV) of $166.58 million. Haedal Protocol continues to take innovative steps in the world of liquid staking and DeFi on the Sui blockchain.
4. Scallop (SCA)
Scallop is a lending and borrowing platform built on the Sui blockchain. It provides users with various financial tools within the decentralized finance (DeFi) space. Distinguished by its enterprise-grade infrastructure and high security features, Scallop was one of the first DeFi projects to receive a grant from Sui in 2022. Its interoperability and innovative approach set it apart in the ecosystem. Scallop is currently priced at $0.1291, with a market capitalization of $15.17 million and a fully diluted valuation of $32.28 million.
5. Bluefin (BLUE)
Bluefin is a decentralized spot and derivatives trading platform operating on the Sui blockchain. It offers users fast, low-cost, and secure transactions. The BLUE token is used for transaction fees, staking, and governance. Supported by smart contracts, the platform provides a user-friendly experience for spot and derivatives trading. Bluefin’s price is $0.09516, with a market capitalization of $29.08 million and a fully diluted valuation of $95.16 million.
6. Walrus (WAL)
Walrus is a DeFi platform on the Sui blockchain that offers programmable data storage and private transactions. The WAL token supports anonymous transactions and interactions with decentralized applications (dApps), prioritizing privacy. Contributing to the ecosystem with decentralized storage solutions, Walrus stands out with its innovative approach. Walrus is priced at $0.4270, with a market capitalization of $590.32 million and a fully diluted valuation of $2.13 billion.
7. Fud the Pug (FUD)
Fud the Pug is a meme coin project within the Sui ecosystem. With a fun and memorable brand identity, FUD aims to go beyond being just a joke token by rewarding early NFT communities and developers. Operating with the motto “by the people, for the people,” FUD offers a community-driven structure. FUD’s price is $0.00000004051, with a market capitalization of $2.33 million and a fully diluted valuation of $4.05 million.
8. Blub (BLUB)
BLUB is a meme coin developed on the Sui blockchain with a total supply of 420.69 trillion. It aims to attract new users to the crypto space with a fun approach. Leveraging Sui’s fast and low-cost infrastructure, BLUB facilitates ease of use in DeFi projects and offers a strong tokenomic structure. BLUB’s price is $0.00000003253, with a market capitalization of $10.52 million and a fully diluted valuation of $13.68 million.
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