Sui Foundation launched its Layer 1 Blockchain and Smart Contract Platform with a successful token sale on Kucoin, OKX and Bybit. Meanwhile, the SUI token price has experienced a 70% pullback after a 24-hour high of $2.
The SUI Foundation announced the launch of the Sui MaNet. The team describes the protocol as a revolutionary layer-1 blockchain and smart contract platform designed to provide fast, secure and accessible digital asset ownership to everyone.
SUI is designed to bring the power of digital asset ownership to the masses, enabling fast, secure, and private transactions for everyone. By using innovative technologies and protocols, SUI is paving the way for a new era of decentralized finance (DEFI) that is accessible, easy to use and built on the principles of transparency and trust.
The SUI community, with more than 750,000 members, is already excited about the endless possibilities the new blockchain offers. To support the advancement of the ecosystem, the Sui Foundation has launched a token sale on leading exchanges including Kucoin, OKX and Bybit.
The total allocation for the token sale is approximately 5.4% of the total issuance of 10 billion SUI, with the increased amount valued at approximately $47.82 million.
The SUI token sale started consecutively in April and token holders can unlock their tokens monthly for a year. A user on Twitter thinks the Sui Foundation AirDrop didn’t go as planned, but many users still made their first $1,000 to $2,000 because of their perseverance and consistency.”
Wasn't the type of Airdrop we were expecting but somehow and somewhere, a lot of people made their first $1000 to $2000 just because they didn't give up and were consistent and persistent, blessings come in different ways.$Sui just turned $45 to $2000 plus.
This is just the…
— CHASE💀 (@Abrahamchase09) May 3, 2023
The launch of SUI marks a milestone in advancing blockchain technology, providing users with true digital asset ownership and enabling decentralized applications (DAPPs) and transactions. With the support of the foundation, builders and developers can build freely without being held back by complex infrastructure.
Sui strikes $2
According to data from Coingecko, the current price of SUI is $1.37, which is significantly lower than a 24-hour high at $2. The SUI market cap is $718,707,253, with a maximum supply of 10,000,000,000 and a circulating offer of 528,273,718.
As expected, the price of SUI has been volatile since launch, with significant fluctuations in lower timeframes. However, since its launch it has seen significant growth in value and it remains to be seen how it will perform in the long term.
