SUI Ecosystem Project Chronicle: The Rising Star of the Layer 1 Track

Recently, the focus of the cryptocurrency market has mainly concentrated on two aspects: the ongoing prosperity of meme coins and the strong rise of the SUI public chain. The meme sector continues to innovate, with projects like Neiro and MOODENG creating peaks on different chains. At the same time, as a new Layer 1 public chain, SUI has also shown remarkable growth.

Despite the controversies surrounding the token distribution of SUI, its market performance has been impressive. It rose from $0.76 at the beginning of September to a peak of $2.16, a gain of 185%, nearly reaching its all-time high. This surge is driven by institutional support, with a narrative focused on "replacing Solana." As funds flow in, not only has the price of SUI skyrocketed, but the total locked value of its ecosystem, ecosystem projects, and even meme coins have also risen significantly.

Let's explore the key projects worth paying attention to in the SUI ecosystem.

Cetus: The Leading DEX in the SUI Ecosystem

Cetus is the largest decentralized exchange on SUI, using a concentrated liquidity model to provide comprehensive DeFi services. Its Launchpad feature offers an IDO platform for ecosystem projects, which is key to Cetus maintaining its leading position. Currently, Cetus has a locked value exceeding $200 million, ranking fourth in the SUI ecosystem. Its native token $Cetus has seen significant growth recently, approaching its historical high.

NAVI: SUI Native Lending Protocol

NAVI is the first comprehensive liquidity protocol in the SUI ecosystem, providing lending services for various assets. As the project with the highest locked value on SUI, NAVI demonstrates strong growth momentum. However, the performance of its token $NAVI has lagged behind, leaving significant room for growth.

Scallop: A Highly Anticipated Lending Platform

Scallop, as an emerging lending protocol on SUI, has received investment support from several well-known institutions. Among them are strategic investors including Mysten Labs, the parent company of SUI, highlighting the market's confidence in the project. Although the $SCA token has recently rebounded, the increase has been relatively mild.

The Meme Coin Legion of the SUI Ecosystem

In the SUI ecosystem, meme coins also hold an important position. HIPPO, as the SUI version of "Little Hippo", continues the popularity of MOODENG on other public chains. AAA attracts attention with its black cat image, striving to become the Popcat of SUI. Meanwhile, BLUB represents the early SUI meme coins and once achieved an astonishing surge.

As the SUI ecosystem continues to develop, these projects are showcasing their unique characteristics and potential. Whether it is DeFi infrastructure or meme coins, SUI is gradually building a diversified ecosystem. Investors should fully understand the background, team, and development prospects of these projects while assessing risks.