The Sui network's native token, SUI, has been officially listed for spot trading on a leading global cryptocurrency exchange. This listing provides traders and investors with new opportunities to engage with the innovative Layer 1 blockchain.
This guide covers the essential details of the listing, key information about the SUI token, and what this development means for the broader ecosystem.
Key Listing Timeline and Details
The exchange has provided a clear schedule for the SUI listing process. All times are in Coordinated Universal Time (UTC).
- SUI/USDT Spot Trading Pair Listing: The trading pair became available on May 3rd.
- Order Book Opening: The order book for the SUI/USDT pair opened for users to place orders.
- Withdrawals Enabled: The functionality to withdraw SUI tokens from the exchange platform was activated shortly after trading began.
This structured rollout is designed to ensure a smooth and orderly market opening for the new asset.
Understanding the SUI Token and Network
Sui is a decentralized, proof-of-stake blockchain designed from the ground up to enable creators and developers to build applications that cater to the next billion users in web3. It distinguishes itself with a novel object-centric architecture and the Move programming language.
- Asset Name: Sui
- Ticker Symbol: SUI
- Total Supply: The maximum number of SUI tokens that will ever exist is 10,000,000,000.
- Initial Circulating Supply: At the time of the genesis event and this listing, the circulating supply was 528,273,717 SUI.
The SUI token serves multiple critical functions within the network, including paying for gas fees, staking to become a validator and secure the network, and acting as a versatile medium of exchange and store of value within the Sui ecosystem.
👉 Explore more strategies for trading new token listings
Why This Listing Is Significant
The listing of SUI on a major, liquid exchange is a significant milestone for several reasons:
- Enhanced Accessibility: It provides a trusted and accessible on-ramp for a global user base to acquire and trade the SUI token.
- Increased Liquidity: A listing on a high-volume platform immediately injects significant liquidity into the SUI market, which helps stabilize prices and reduce slippage for traders.
- Market Validation: Being listed on a top-tier exchange serves as a form of validation for the Sui project, signaling that it has met certain technical and compliance standards.
This event typically attracts attention from a wide range of market participants, from retail traders to institutional investors.
Getting Started with SUI Trading
For those new to trading SUI, the process is straightforward on a supported exchange.
- Account Funding: Ensure your exchange account is funded with USDT or another base currency supported for the SUI pair.
- Navigate to Trading: Locate the SUI/USDT trading pair on the spot markets section of the exchange.
- Place an Order: Decide on your trading strategy—whether you wish to place a market order for immediate execution or a limit order to specify your desired price.
Always remember to conduct your own research and consider your risk tolerance before executing any trades. 👉 View real-time market data and tools
Frequently Asked Questions
What is the SUI token used for?
The SUI token is the lifeblood of the Sui blockchain. It is used to pay for transaction fees (gas), participate in network security through staking, and function as a fundamental unit of account and value transfer within the ecosystem's dApps and economies.
How does the Sui blockchain differ from others?
Sui is designed for high throughput and low latency. Its key innovation is an object-centric data model and parallel transaction processing, which allows it to handle a massive number of transactions simultaneously without congestion, unlike some sequential blockchains.
When did SUI trading begin?
Spot trading for the SUI token officially commenced on May 3rd. The exact timing involved a phased approach, opening the order book first before enabling full trading and subsequent withdrawal capabilities for users.
What was the initial circulating supply?
At the time of its launch and exchange listing, the initial circulating supply of SUI tokens was 528,273,717. This is a portion of the total fixed supply of 10 billion tokens.
Is SUI a good investment?
As with any cryptocurrency, investing in SUI carries inherent risks and potential rewards. Its value will be influenced by the adoption of the Sui network, the development of its ecosystem, broader market conditions, and overall developer activity. Thorough personal research is essential.
Where can I learn more about the Sui technology?
The best source of technical information is the official Sui Foundation documentation and developer portals, which provide in-depth resources on its consensus mechanism, Move programming language, and object-centric architecture.