Main Points:
- Grayscale’s Sui Trust is now open to qualified investors.
- Sui TVL (total value locked) has risen to $940 million.
- Sui is a smart contracts blockchain network focused on web3 applications.
- Sui token is used for proof-of-stake, gas fees, and governance.
Grayscale’s Sui Trust Now Open to Qualified Investors
Grayscale recently announced that its Sui Trust is now accessible to eligible accredited investors. The trust, launched alongside the Bittensor Trust in August, offers exposure to various cryptocurrencies for qualified investors. This expansion of products aims to cater to the growing demand for crypto investment opportunities.
Sui TVL Reaches $940 Million
Sui, a smart contracts blockchain network, has seen its total value locked rise to over $940 million. Despite facing price fluctuations, the network’s architecture is designed to support the adoption of web3 applications. The Sui token plays a crucial role in the network’s ecosystem, being utilized for proof-of-stake rewards, gas fee payments, and governance activities.
Sui Token Performance and Market Position
Although the Sui token has faced challenges in price performance, trading around $0.91, it has shown resilience with a more than 10% increase over the past week. Sui’s market capitalization ranks it as the 38th largest cryptocurrency, with its TVL positioning it as the 10th largest chain in the crypto space. Despite the competition from Ethereum, Sui continues to attract users and investors with its unique features and capabilities.
