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The SUI token experienced a 115% month-over-month gain in October and continues to appreciate as it emerges as a Solana competitor.
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The Sui blockchain ecosystem has experienced significant growth in recent months, along with a sustained rally in its native Sui (SUI) token. In an interview with Cointelegraph, Ramani Ramachandran, co-founder and CEO of Router Protocol, said this was due to a great developer experience and community in the Sui ecosystem.
Ramachandran said that Sui manages to combine the easy-to-use Move programming language with a simplified interface for end consumers that makes the blockchain ecosystem attractive to developers. The CEO told Cointelegraph:
“The interesting thing about Sui was the founders are not as visible, but they are doing something right because developers are talking about them. A ton of developers are talking about how Sui is great — Sui is amazing.”
Ramachandran continued, “The community and vibes have been great,” and praised the Sui developer community as a sustainable ecosystem as opposed to other alternative layer-1 projects which flounder following a token generation event.
A recent survey from MV Capital shows investor interest in Sui. Source MV Capital/Router Protocol
Related: Sui Network restored after 2-hour outage in setback for ‘Solana killer’
Monolithic blockchains gain ground
An October report from VanEck showed that monolithic blockchains such as Sui and Solana (SOL) outperformed other ecosystems during September.
Sui experienced a 140% gain in daily active addresses during September. This increased network activity drove demand for the SUI token and culminated in Sui’s current market capitalization of $9.9 billion.
Earlier in 2024, K33 Research released a report highlighting Sui’s potential as a Solana competitor. This report likewise highlighted Sui’s architecture as a key factor that makes the blockchain attractive, compared to other layer-1 blockchains featuring more complex programming languages and developer tools.
On Nov. 22, asset manager Franklin Templeton partnered with Sui to explore application development on the move-based blockchain ecosystem.
Because of Sui’s high throughput — the ability to process a large number of transactions per second — and low latency, the Sui network is attractive for applications that require frequent updates such as video games.
Mysten Labs, the developer behind the Sui blockchain network, has announced a handheld gaming PC expected to launch sometime in 2025 which will be optimized for blockchain and traditional PC games.
Magazine: Are there ‘too many’ blockchains for gaming? Sui’s randomness feature: Web3 Gamer
This article first appeared at Cointelegraph.com News
