Here’s why Sui is one that crypto investors are loading up on today

In the world of cryptocurrency, climb (SUI 13.20%) it is a project that many investors are not aware of. Currently the 18th largest crypto project by market capitalization, Sui has nevertheless been one of the top performers over the past month, rising around 124% in that time frame. In the last 24 hours alone, Sui is up 12.4% as of 3:00 PM ET, making this project among the best performing large-cap tokens out there.

Sui’s recent surge over the past month can be directly attributed to the announcement that Circle’s USDC stablecoin will be launched on the Sui network. This announcement took place on September 17th, and at the time of writing, Sui’s native token is up almost exactly 100% from the day before this announcement. This is a very reasonable return in a very short time for investors.

Now, the question is whether this momentum can continue. Let’s dive deeper into this specific catalyst and what it may portend for Sui’s performance going forward.

Why the USDC launch matters

Circle’s USDC stablecoin is the second largest such token in the world and is the currency in which a significant percentage of on-chain transactions take place. the special project of innovation in the decentralized financial space by simplifying and improving the efficiency of various applications improves when the world’s second largest stablecoin is accepted as a currency in this network.

Many investors seem to believe that the inclusion of the Circle stablecoin in the Sui network will encourage developers to build more applications on the chain, growing the Sui network and creating certain network effects that may be difficult for competitors to break.

I think it’s certainly an encouraging development, although the question now is whether Sui’s last run was more expensive than this potential catalyst in light of some of the headwinds we’re starting to see.

Can this rally continue?

As far as crypto projects with major catalysts (and major momentum) go, Sui certainly stands out as a top project worth considering. The underlying technological infrastructure of the blockchain network is impressive, and this USDC integration should bode well for growth as long as the Sui team continues their work to improve the user experience and promote new and exciting ways to use the Sui network.

For now, this symbol is one that certainly seems to have major potential as a breakout candidate by the end of the year.