2024

Sherpa

USDC

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<p class="is-style-lead">Sui received a major boost after stablecoin issuer Circle announced support for native USDC on the layer-1 blockchain platform’s mainnet.</p>
<p>Circle <a href="https://www.circle.com/blog/now-available-native-usdc-on-sui" target="_blank" rel="noopener noreferrer nofollow">announced</a> native USDC (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/usd-coin/">USDC</a>) was live on Sui (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/sui/">SUI</a>) on Oct. 8.</p>
<p>Also notable for Sui on the day was the<a href="https://x.com/CoinbaseAssets/status/1843637559500435955" target="_blank" rel="noopener noreferrer nofollow"> announcement</a> by leading U.S.-based crypto exchange Coinbase that it had added USDC to Sui on its listing roadmap.</p>
<p>The news comes amid a significant surge for Sui, which has more than doubled in value over the past month. The cryptocurrency’s price rose sharply after <a rel="noopener noreferrer nofollow" href="https://crypto.news/sui-price-soars-as-bybit-adds-sui-on-launchpool/">Bybit added Sui on Launchpool</a>.</p>
<p>Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/sui-leads-top-gainers-as-open-interest-hits-all-time-high/"> SUI leads top gainers as open interest hits all-time high </a></p>
<h2 class="wp-block-heading" id="what-does-native-usdc-mean-for-sui">What does native USDC mean for Sui?</h2>
<p>Native USDC means that developers and users on Sui no longer need to bridge the stablecoin and can tap into its liquidity for decentralized finance protocols, gaming, decentralized physical infrastructure networks, and non-fungible tokens within the Sui ecosystem.</p>
<p>Before Circle launched USDC natively on Sui, the ecosystem used a version of USDC bridged from Ethereum via Wormhole.</p>
<p>This could lead to a rise in Sui’s network activity, potentially pushing its total value locked above the current $1.55 billion, according to <a href="https://defillama.com/chain/Sui" target="_blank" rel="noopener noreferrer nofollow">DeFiLlama</a>.</p>
<h2 class="wp-block-heading" id="sui-price-prediction">SUI price prediction</h2>
<p>Sui rallied in recent weeks after a bull flag breakout, as noted by Scott Melker, a crypto investor and host of the Wolf Of All Streets podcast, in a post on X.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SUI</a><br><br>This bull flag and chart in general should be studied by Technical Analysis enthusiasts for generations to come. <a rel="noopener noreferrer nofollow" href="https://t.co/Yj1yPd2qm7" target="_blank">pic.twitter.com/Yj1yPd2qm7</a></p>— The Wolf Of All Streets (@scottmelker) <a href="https://twitter.com/scottmelker/status/1843616978269024415?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 8, 2024</a>
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<p>Sui’s price has retreated 6% in the past 24 hours, in line with dips for other top altcoins as Bitcoin (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bitcoin/">BTC</a>) fell below $63,000. However, with a 108% increase in 30 days and bulls testing levels near the all-time high of $2.17 reached in March, is price discovery next?</p>
<p>If bulls hold near $2, it’s likely the next surge will push Sui past its current all-time high. However, before that happens, crypto analyst Altcoin Sherpa offered some caution regarding the altcoin:</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SUI</a> is insane and already WAY past their former ATH in terms of marketcap. Wouldn't personally buy here in terms of pure price analysis but definitely still observing. This makes a great trade but maybe not the best hold given unlocks <a rel="noopener noreferrer nofollow" href="https://t.co/XoUPY39879" target="_blank">pic.twitter.com/XoUPY39879</a></p>— Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1843331376055234991?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 7, 2024</a>
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<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/moodeng-surges-over-40-in-24-hours/"> MOODENG surges over 40% in 24 hours </a></p>

SUI price set for new ATH amid native USDC launch

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