The SUI ecosystem projects are rapidly emerging, with multiple popular applications performing outstandingly.

Recently, the focus of the cryptocurrency market has mainly concentrated on two directions: the continuous development of the meme coin sector and the strong performance of the SUI public chain. In terms of meme coins, multiple projects have successively erupted on different chains, continuously creating wealth effects. As an emerging Layer 1 public chain, SUI has seen its token distribution method be controversial, but its price performance has been strong recently, rising from $0.76 at the beginning of September to a peak of $2.16, approaching an all-time high, with an increase of about 185% within a month and a half.

The upward momentum of SUI is driven by institutional investors, emphasizing the narrative of "replacing Solana". This influx of capital has not only boosted the price of SUI but also increased the total value locked (TVL) within the ecosystem, as well as the rise of ecological projects and related meme coins.

The following are several projects worth paying attention to in the SUI ecosystem:

Cetus

Cetus is the largest decentralized exchange (DEX) in the SUI ecosystem, utilizing a concentrated liquidity protocol similar to Uniswap V3. It offers a variety of products, including DEX, liquidity pools, gun pools, yield vaults, and Launchpad, among others. Cetus also integrates the central limit order book DeepBook and the cross-chain bridge Wormhole, further enhancing its functionality.

Cetus's Launchpad provides an important Initial DEX Offering (IDO) platform for SUI ecosystem projects. Users holding xCETUS can participate in these IDOs, and there have been instances of oversubscription in past offerings, which is one of the key factors that keep Cetus at the forefront in the DEX space.

Currently, the locked value on the Cetus platform exceeds $200 million, ranking fourth in the SUI ecosystem, with an 83% growth over the past month. Its native token $Cetus has increased by 180% in price over the last 30 days, currently trading at around $0.17, close to its historical peak of $0.186. Cetus's market capitalization is currently $54.52 million, ranking 638th on Coingecko.

NAVI

NAVI is the first native one-stop liquidity protocol on the SUI chain, similar to Aave on Ethereum, primarily providing lending services. It currently supports various assets including Sui, vSui, NAVX, USDT, USDC, CETUS, WETH, and more. The annual interest rate for deposits of stablecoins on the platform is approximately 7%, while the annual interest rate for SUI deposits is 4%.

NAVI is the project with the highest locked volume in the SUI ecosystem, having grown by 52% in the past month, with a total locked volume reaching $500 million. However, the performance of its token $NAVI has not been as impressive as its product. Although it has increased by over 150% in the past 30 days along with the rise of SUI, it still has over 100% room for growth to reach its historical peak, contrasting with the situation of SUI and Cetus approaching their historical highs.

Currently, the trading price of $NAVI is approximately $0.15, with a historical high of $0.357, and a current market capitalization of $36.62 million.

Scallop

Scallop is another lending protocol on the SUI chain. In March of this year, Scallop completed a $3 million strategic financing round led by CMS Holdings and 6th Man Ventures, with other investors including Mysten Labs (the parent company of SUI), the aforementioned Cetus, well-known NFT investor dingaling, and prominent Chinese KOL 0xSun as angel investors.

At the end of April, Scallop announced that it had received a strategic investment from DWF Labs. DWF Labs will act as Scallop's main liquidity provider on major centralized exchanges and will also support over-the-counter (OTC) trading.

The token $SCA of Scallop experienced a period of decline after its listing, showing slight improvement in the past month with a 52% increase, but the growth rate is still lower than that of SUI and other aforementioned cryptocurrencies. Currently, the trading price of $SCA is approximately $0.376, with a historical high of $1.28, and a current market capitalization of $20.34 million.

Meme Coin Project

In the SUI ecosystem, several notable meme coin projects have also emerged.

HIPPO

The inspiration for HIPPO comes from the Thai internet celebrity hippo "Bouncing Pig" MOODENG. This meme coin concept first appeared on the Solana chain, where the little hippo on Sol reached a market cap of 330 million USD. The hippo version on Ethereum recently gained attention for donating tokens to Vitalik, who chose to burn these tokens, causing its price to increase tenfold within four days.

HIPPO is the hippo version on the SUI chain. The current trading price is approximately $0.0148, the historical peak is $0.01848, and the current market value is $148 million, with a 17% increase over the past seven days.

AAA

The image of AAA is a black cat, a concept derived from an emoji pack on the SUI Name Service. This is one of the few meme coins on SUI that is not themed around marine life, and the community hopes it can emulate the success of the well-known meme coin Popcat on Solana.

The current trading price of AAA is approximately $0.0019, with a historical high of $0.00253, and a growth rate of up to 293% over the past seven days. The current market capitalization is $19 million.

BLUB

The image of BLUB is a fish with a Pepe face, which was once the most popular meme coin in the SUI ecosystem until it was surpassed by HIPPO.

Interestingly, the token issuance time for BLUB was on September 1st, which is close to the time when SUI started to rise. It surged from an initial market value of 3.5 million dollars to a peak of 48 million dollars, achieving an 11-fold increase.

The current trading price of BLUB is approximately $0.0(6)123, with a historical high of $0.0(6)161. It has decreased by 9.8% in the last seven days, and the current market capitalization is $40 million.