Top 5 Coins on the SUI Network with Upside Potential

Bittime - Top 5 Coins on the SUI Network with Upside The SUI network has caught the attention of the crypto community with its rapid growth, particularly in the DeFi sector.

In addition to the main token $SUI, various projects within the SUI ecosystem have begun to thrive, including several coins that have recorded significant gains.

Here are the top 5 coins on the SUI network that have the potential to provide attractive returns.

Also read Sui Could Be a Potential Challenger to Solana? Check out the Analysis!

1. Cetus Protocol ($CETUS)

Cetus Protocol is a DEX (Decentralized Exchange) platform known as a pioneer in Move protocols.

The platform features a Concentrated Liquidity Market Maker (CLMM), which provides capital efficiency with minimal slippage.

Key features of Cetus include limit orders, DCA, and the use of a Central Limit Order Book (CLOB) called Deepbook, which works in the background of many DeFi applications on the SUI network.

The $CETUS token currently has a price of around $0.205 with a market capitalization of $65 million and is up by 250% in the last 30 days.

Of the total supply of 1 billion, 316 million tokens are already in circulation.

2. Navi Protocol ($NAVX)

Navi Protocol ranks first by Total Value Locked (TVL) in the SUI ecosystem, reaching $359 million.

With similar functionality to Aave, Navi provides lending, staking, yield strategy, and flash loans.

The platform allows users to loop by using $SUI as collateral to borrow $USDC, which can then be converted back into $SUI for another loan.

At $0.16 per token, $NAVX has recorded a 230% increase in the past month.

Currently, 243.6 million tokens out of a total of 1 billion are in circulation, providing plenty of opportunities for growth.

Also read SUI's Landmark Achievement, Breaking $1 Billion in TVLs

3. Scallop ($SCA)

As a next-generation money market platform, Scallop also serves as a lending protocol and takes the fourth spot by TVL on SUI.

In addition to the main token $SCA, there is also a token $veSCA that provides voting rights in governance, increased rewards, and a share of selected pool fees.

The current price of $SCA is $0.41, with a market capitalization of $22.8 million.

Of the total supply of 250 million tokens, 52.8 million are already in circulation, and the price of this token has increased by 180% in the last 30 days, with ATH at $1.47.

4. Suiswap ($SSWP)

Suiswap is a new cross-network DEX launched in 2023 with a fully open token.

The platform allows the exchange of various large tokens such as $SOL, $WBTC, $AVAX, and others.

The current price is around $0.0007325, with a market capitalization of $7.3 million, and has risen 240% in the last month.

5. Turbos Finance ($TURBOS)

Turbos Finance, backed by Jump Crypto and Mysten Labs, is a fast and cheap AMM (Automated Market Maker) platform.

With a price of $0.00384 and a market capitalization of $7 million, $TURBOS is up 180% in the last 30 days.

The platform features swaps, pools, and yield strategies, making it an attractive option for DeFi investors.

5 Reasons Why the 5 SUI Ecosystem Coins above are Potentially Profitable

Based on GPT-40, there are 4 reasons why the 5 coins with the SUI ecosystem above have the potential to go up, here is the analysis:

1. Increase in Total Value Locked (TVL)

TVL shows the amount of assets locked in the DeFi protocol, which reflects the level of trust and interest from users.

The higher the TVL, the higher the liquidity and adoption of the protocol, potentially increasing the demand and price of the coin.

For example, Navi Protocol, which has the highest TVL on SUI, shows strong user trust, resulting in increased demand for $NAVX.

2. Interesting Functions and Features

Projects with unique or innovative features tend to attract more users.

For example, Cetus Protocol provides features such as limit orders, concentrated liquidity, and DCA, which attract investors who want to maximize their trading strategies at a low cost.

Features like these increase the utility of the coin, making it more valuable and potentially rising in price.

3. Yield and Lending Capabilities

Protocols that offer high yield and lending services attract users who are looking for passive income sources, as in Navi and Scallop.

Coins from high yield protocols are often in greater demand as users utilize them for long-term investments, potentially driving up the price over time.

4. Airdrop Adoption and User Ecosystem

The potential for airdrops and incentive programs attracts more users to adopt the platform.

This often leads to an increase in the number of active users, which translates to increased demand for the coin.

In the case of SUI, platforms such as Deepbook and Suilend offer airdrop opportunities that can attract users to lock up their assets, thus increasing the TVL and price of the corresponding coin.

5. Market Sentiment and Speculation

Speculation also plays a big role in the price movement of coins.

When a coin experiences a price increase in a short period of time (for example, 200% or more in a month), it creates hype and interest among investors, resulting in more purchases and higher prices for the coin.

To conclude

Overall, factors such as increased TVL, innovative features, passive income potential, airdrop incentives, and market speculation can drive coin prices higher.

Coins that offer greater benefits within their ecosystem tend to be more attractive to investors, which can increase demand and ultimately the price of the coin.

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