tl;dr
The Sui blockchain (SUI) has seen significant growth, with memecoins now contributing around $492 million to its $12 billion market cap. SUIJAK memecoin surged by 1,874% in the past week, outperforming higher-ranked memecoins. The platform hosts 49 memecoins, with Sudeng (HIPPO) leading by market ca...
The Sui blockchain (SUI) has experienced remarkable growth, with memecoins now contributing around $492 million to its $12 billion market cap. SUIJAK memecoin surged by 1,874% in the past week, outperforming higher-ranked memecoins. The platform hosts 49 memecoins, with Sudeng (HIPPO) leading by market capitalization.
Sui's scalability, capable of handling up to 120,000 transactions per second, positions it as a strong competitor in blockchain technology alongside Solana and Ethereum. This demonstrates how memecoins can positively impact a blockchain's infrastructure and utility.
The growth of the SUI ecosystem is mirrored in the performance of its native token, which experienced a remarkable 1,178% surge, reaching an all-time high of $4.49 over the past 14 months, making it one of the most profitable cryptocurrencies in the current dispensation. According to CoinGecko, memecoins within the Sui network now account for $492 million of the blockchain’s total valuation. The platform hosts 49 memecoins, with Sudeng (HIPPO) leading the pack by market capitalization. Other notable tokens include MemeFi (MEMEFI), LOFI, BLUB, and AXOL.
Recent data showed that some lower-ranked memecoins performed better, especially in the past seven days. For instance, Suijak (SUIJAK) gained 1,874% in the past week, against HIPPO’s 15% drop in value. SUICAT gained 589%, while DAK made a 459% profit during the same period. Sui’s ability to handle up to 120,000 transactions per second through parallel execution has drawn significant attention from developers. This scalability positions the platform as a strong competitor to Solana and, by extension, Ethereum, in the race to dominate blockchain technology.
Sui’s $12 billion market cap milestone shows how memecoins can favorably impact a blockchain infrastructure and in a way showcase its utility.