Summary
SUI network has just dropped its plans for mixing AI with blockchain to boost security and efficiency in their next projects. SUI foundation has also denied every accusations regarding insider token sales.On X, Kostas Kryptos promoted this act by sharing a sample screenshot. If this continues on, people believe SUI will out AI everyone else.
VC giant Andreessen Horowitz (a16z) explained how integrating blockchain and Artificial Intelligence could be beneficial. Furthermore, he also noted that the number of crypto projects offering AI services and functionalities has surged from 27% in 2023 to 34% in 2024. He also said how Near Protocol is a great example of a project that successfully addresses “content verification and intellectual property” issue within the AI sector. Other altcoins, like technical setup in Aptos (APT), are also looking for SUI like rally ahead.
Last week, SUI Foundation faced some serious accusations of $400 million in insider selling of the SUI tokens. In defense, SUI claims that neither insiders nor Mysten Lab employees or Mysten Lab investors had sold anything near $400 million worth of tokens. They assured the public that reportedly, no early token sales had occurred.
SUI Performance Lately
SUI has surged by nearly 500% over the past year, making it one of the top performers in the market. As of October 21, 2024, SUI’s market price is $2.12 with a 24 hour trading volume of $796,002,450. This shows it has increased by 3.44% in the last 24 hours but if we consider 7 days it has dropped by 5.29%. Regardless, with a circulating supply of 2.8 Billion SUI and a market cap of $5,871,067,161, it is comfortably placed at top the 22th position in the market.
Learn more about SUI’s market rollercoaster here.