The SUI-USDT exchange pair registered an X20 multiplier on the public sale starting price; those who had the token in their crypto wallet got a real bargain!
The public sale took place on some centralized exchanges such as OKX, Kucoin and Bybit, while compared to the whitelist price, the increase is 100 times the starting price.
This is a great success for one of the tokens that wants to become an important part of the DeFi and Web3 world.
Where can you currently buy SUI and which crypto wallets are best suited to store it securely?
SUI Crypto Explodes At Launch Combined With USDT: A X20 Rise For Those Who Had It In Their Wallets Before Listing
Yesterday the SUI cryptocurrency was made official his debut in the major crypto markets a killer price increase in the pair with USDT. Anyone who had it in their wallet before the offer made a huge profit.
Before talking about the pump there was on the exchanges where it was listed, it is appropriate to dedicate a brief introduction to the methodology by which the token was introduced through the community.
The distribution of the SUI took place among the supporters of the project BEFORE it was listed on the major crypto exchange platforms through a mechanism called the “Community access program“, selecting a number of users based on their participation in the project when it was still in development.
More specifically, those who tested the SUI testnet, community managers, developers and key contributors had the privilege of purchasing the SUI token at a price of $0.03.
Those who were lucky enough or earned enough to fall into this category made one X100 of their initial investment when looking at the peak price touched on Biget.
For users who were not on the main whitelist, there was still a chance to join the public sale raffle, where a few users managed to get a certain amount of SUI for a price of $0.1 per token.
Again, even though the starting price was about 3.3 times higher than the main contributors, those who managed to buy SUI at this price earned a X20 if we look at the peak recorded on Binance at the time of launch.
Considering that most of the exchanges that participated in the public sale are allowed a maximum allocation of 10,000 SUI (i.e. a $1,000 investment), those who managed to sell at the top of the SUI-USDT pair on Binance earned as much as $20,000.
Less optimistically, those who sell now, when the price of SUI is $1.37, will make a profit of $13,700.
How to buy the SUI token with USDT and which wallet to choose to store the crypto securely
Although on this first day of trading the SUI token has pumped a lot into the pair with USDT, there are those who continuation of the bullish trend for the crypto, as happened after the APTOS airdrop. On that occasion, within a few weeks of listing on the major stock exchanges, the token rose more than 500%. So let’s see which exchanges the token is listed on and which cryptocurrency wallet to choose to keep it safe.
Evidently, these are not financial tips: The intention is to share the thoughts and opinions of other people in the crypto world and provide some technical support for the type of wallet/platform you should choose if you decide to buy SUI yourself.
The main exchanges where SUI is listed are Binance, Bitget, OKX, Kucoin, Kraken, Bybit, Huobi, Gate.io, Bithumb, Mexc and many more.
The choice is very wide, as the launch of SUI was highly anticipated: in principle, any exchange is fine to buy the token, unless you are in possession of millions of dollars in capital and had to choose from the most liquid markets.
In this case, the best choice would be to avoid the smaller exchanges and, according to your preferences, choose one of the platforms between Binance, Kucoin, Bybit and Okx, where the volume of the last 24 hours on the SUI-USDT pair exceeds $100 million on all 4 markets.
If you are a European user and want to buy SUI in EURO on Binance, you should be careful because the volume of the last 24 hours is only EUR 1.6 million. It is much better to choose to make the purchase with stablecoin tether.
On the retention side, however, there’s a small consideration to make: if you don’t have knowledge and experience with self-custodial solutions and don’t navigate the DeFi and Web3 world, the advice is to keep the SUI token on the same platforms where you will buy itperhaps avoiding the young exchanges and favoring those with solid foundations and evidence of reserves to back them up credibility and solvency.
The choice usually falls between Binance, Kucoin, Bybit and Okx, which are also the platforms with the most liquid markets.
On the other hand, if you are an experienced user and prefer solutions that allow you to always have the private keys to carry out transactions, there are decentralized wallets that suit you.
We are talking about the decentralized wallets “Sui wallet”, “Suiet”, “Ethos wallet” and “Fewcha wallet”.
You can find official links to the social pages of these wallets (where there are official download links) through the ecosystem portal of projects built on SUI.
What is expected from the future of SUI?
We’ve talked about the speculative side of SUI, the numbers it’s been recording in trades with the USDT pair, and the best wallets to hold the crypto in.
Instead, it’s time to look at the basic principles of SUI and the company behind it, Mysten Labs.
SUI started as a spin-off of Meta’s Diem project, whose former developers decided to build the Layer 1 blockchain with the intention of horizontal scaling up the on-chain transaction market.
According to Evan Cheng (co-founder and CEO of Mysten), Web3 is currently in a dial-up phase where processes slow, expensive, uncertain and difficult to build.
SUI’s company raised several rounds of funding before going public, most recently in September 2022 when it raised $300 million at a valued at more than $2 billionaccording to CrunchBase.
To summarize the main points of the project, the technical innovations include the MOVE programming language, which is very user-friendly for developerswho can rely on a simple yet efficient framework to build the next wave of decentralized applications on the blockchain.
MOVE is based on RUST, a programming language adopted by other major crypto projects such as Near, Polkadot, and Elrond, and developed by FB’s Libra project.
Another highlight of the innovation that SUI brings is the Narhal-Tusk consensus algorithm, which separates data transfer from the transaction consensus process, effectively solving the mempool storage problem that still exists in Bitcoin and Ethereum protocols.
Thanks to this “trick”, SUI is programmed to scale horizontally and support millions of transactions per second without the need for dedicated nodes in the network.
Many are calling SUI the next killer of Solana and Aptos.
We will see what the future holds for this very interesting blockchain project.