Market News

SUI Surges as Grayscale Launches New Investment Trusts

The Sui (SUI) blockchain is experiencing a notable uptick in user engagement, largely spurred by the recent launch of two single-asset investment trusts by Grayscale.

On August 12, Grayscale revealed the DeepBook Trust and Walrus Trust, allowing investors direct access to DEEP and WAL tokens that are crucial for Sui’s ecosystem.

DeepBook serves as a decentralized central limit order book, vital for liquidity within the decentralized finance (DeFi) applications on Sui.

Walrus, on the other hand, provides a decentralized storage solution for managing large data files in a resilient and scalable manner.

Both products highlight Grayscale's institutional backing, boosting Sui’s credibility and appeal to both developers and users alike.

As more participants enter the Sui network, the resultant network effect is anticipated to accelerate growth significantly.

Experts, including Adeniyi Abiodun from Mysten Labs, express that these launches mark a pivotal moment for the Sui ecosystem, offering new exposure for investors.

Moreover, the trusts are expected to increase transaction volume, which would raise overall network activity.

Data from Artemis indicates that the daily active addresses on Sui have recently reached an all-time high, reflecting growing interest.

This momentum is further underscored by a surge in SUI code commits, signaling a robust commitment to ongoing development and innovation.