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How Sui surged 100% to pass Bitcoin and Ethereum with a bet on gaming
Bitcoin and Ethereum rebounded slightly in September, but both blockchains paled in comparison to Sui, which rallied 100% for the month.
The Ethereum competitor, which boasts far faster transaction speeds than most alternatives in the space, has largely bet that Web3 gaming will be its breakthrough use case. That bet seems to be paying off with its token up 103% since the beginning of the month. Bitcoin and Ethereum traded up 11% and 6% for the month, respectively.
Mysten Labs co-founder Evan Cheng recently described why Sui sees so much potential in gaming that it helped launch the first Web3-dedicated gaming device, the SuiPlay0x1 this month. As Cheng says, it’s about building a platform that redefines what ownership can mean in the digital age.
“Sui is not just a blockchain. It’s a platform for developers,” Cheng emphasized during an interview with Coinage, making it clear that the project’s ambition is to be a lot more than just a ledger for transactions.