Sui Generis Token Outperforms Most Cryptocurrencies, Surges 4%

Sui generis has achieved a remarkable fit within the digital assets space, surging by 4%, reaching $1.1677 and a high TVL.

The SUI token has outperformed the top cryptocurrencies in the digital asset space, rising by over 4% in the past 24 hours and reaching a high of $1.1677. This growth has been accompanied by an increase in total value locked (TVL) and the adoption of the token since its debut.

The trading volume of SUI, the native token of the Sui blockchain, has increased by 12.28% in the past day, and it is currently valued at $215 million. The token’s market capitalization is $2.78 billion, and its price is $1.15 as of 5:35 a.m. ET on Friday.

It is crucial to observe that the SUI token’s price has increased by 14.34% over the past week and by 10.63% over the past month. Additionally, there was a 45.74% increase in a year, culminating in an all-time low of $0.3643 on October 19. Conversely, the all-time high was achieved in March for $2.18, and SUI is currently 46.92% below the ATH.

There are five consecutive bullish candles on the daily chart of the SUI/USDT pair; however, the volume is substantially lower than earlier this year. The token’s relative strength index (RSI) is 60.32, suggesting that the bulls control the price. The increasing prices indicate the token’s potential to reach the overbought region shortly.

Additionally, the TVL of the Sui blockchain has been increasing since May 2023, with a starting point of $21.52 million and a maximum of $751.33 million in March 2024, according to data from DefiLlama. Sui’s stablecoin market capitalization is $398.83 million.

Sui Generis to Introduce Art Ecosystem

Sui Generis, a decentralized autonomous organization (DAO) and hub of NFTs on Sui Network is poised to “create a new type of thriving art ecosystem that benefits artists and their fans” using the Sui blockchain, as indicated in a post on social media platform X.

Sui Generis, previously known as Tombheads on Fantom and subsequently migrated to Sui, is attempting to expand its presence, surpass its previous accomplishments, and create “a phenomenon that has never been seen on any blockchain,” according to a blog post. Gab9, the co-founder and CEO, stated, “Crypto may not be suitable for all individuals, but art is universally adored.”

“Our goal is to onboard non-crypto people who love art, and change the view that people have from physical to digital arts.”

Sui is also collaborating with Aftermath Finance to create fractionalized NFTs for its primary collection, which consists of eight characters, each with eight phases of evolution. Gab9 further stated, “We aim for our NFTs to be of practical use.”