Competitors to the leading smart contract platform in terms of volume are soaring as the protocol’s total value locked (TVL) hits a new all-time high.
In a new announcement, Ethereum (ETH) competitor and layer 1 blockchain Sui Network (SUI) announced that its TVL rapidly increase It has increased by 500% in the last 3 months and by a whopping 1350% in the last 6 months.
SUI’s TVL now stands at $283.5 million, according to new data from market intelligence platform Defi Llama. On August 1, that figure was just over $13 million.
The surge in TVL over the past six months has also had an impact on the prices of digital assets. SUI has soared up to $1.18 at the time of this writing, an 18.7% gain in the last 24 hours and a 100% increase since December 18th. I was moving for $0.59.
Recently, SUI presentation A new partnership with Karrier One, a cryptocurrency-based telecommunications company. In an accompanying blog post, Karrier One said the collaboration will strengthen Decentralized Physical Infrastructure Network (DePIN), Universal Telephone Number System (KNS), and Distributed Wireless (DeWi) technologies.
“In collaboration with the Sui Foundation, Karrier One is very proud to announce this landmark partnership that represents a major leap forward in integrating advanced communications and Web3 capabilities. We have received significant investment from the Sui Foundation to drive the development of DePIN technology, especially KNS.
Karrier One DeWi is based on the Sui blockchain. This includes future KONE tokens that can be earned through various activities on our network.”
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