Coin Edition -
- SUI, XMR, and LDO all saw their prices rise over the past day of trading.
- SUI was the top performer after its price rose by over 4%, which was likely fueled by their $51.3 million DeFi ecosystem fund announcement.
- XMR and LDO both secured price increases of just over 1%.
Over the past 24 hours, the prices of Sui (SUI), Monero (XMR), and Lido DAO (LDO) have experienced a significant increase in price, indicating a possible uptick in investor interest surrounding these tokens. The 24 hour success of XMR and LDO also secured them a spot on CoinMarketCap’s trending list.
Sui (SUI)
At press time, SUI was worth about $0.4556 after its price was able to climb by 4.13% over the past 24 hours. This meant that the altcoin was trading just below its peak price for the past day, which stood at $0.4586.
SUI / Tether US 1D (Source: TradingView)
The token’s price rise could be attributed to the announcement made earlier this week that the Sui Foundation is set to bolster its DeFi ecosystem with a significant investment of $51.3 million through an ecosystem fund. The fund is aimed at providing crucial backing for DeFi developers and DeepBook.
DeepBook is an on-chain central limit order book platform designed to rival Nasdaq’s high-frequency trading capabilities. Notably, a total of 117 million SUI will be reclaimed from “external market makers” to be allocated as grants to support DeFi developers in their initiatives.