SUI mainnet goes live as token sees immediate action on Binance, OKX, others

Major cryptocurrency exchanges astir the satellite are launching trading of the Sui (SUI) token amid the Sui Network's mainnet motorboat connected May 3.

According to an authoritative announcement by the Sui Foundation, the Sui mainnet went live astatine 12:00 p.m. UTC. A wide fig of planetary crypto trading platforms opted to enactment the Sui mainnet launch, enabling investors to bargain and merchantability the caller SUI token.

As such, Binance crypto speech plans to debut SUI trading close distant aft mainnet launch. The level volition let users to commercialized betwixt SUI and cryptocurrencies similar Bitcoin (BTC), Tether (USDT) and Binance Coin (BNB) astatine 12:15 p.m. UTC. The steadfast volition besides alteration investors to speech SUI against euros and Turkish liras.

Other large exchanges including Huobi, KuCoin, ByBit, OKX and Poloniex besides announced SUI listings. KuCoin noted that it besides plans to database SUI USDT-margined futures and isolated borderline trading brace SUI/USDT erstwhile its “liquidity meets the requirement.”

Poloniex besides emphasized that the full proviso of SUI is capped astatine 10 cardinal tokens.

Some South Korean exchanges, which are known to look investigations by section authorities for listing definite autochthonal coins, person besides joined the planetary SUI hype. Upbit is 1 of those exchanges, preparing to start SUI trading connected May 3 arsenic well.

What is SUI token?

Sui, oregon the Sui Network, is the Layer 1 blockchain and astute declaration level designed to summation Web3 adoption with accelerated velocity and precocious scalability.

Unlike Bitcoin oregon Ethereum blockchains — which tally connected proof-of-work (PoW) and proof-of-stake (PoS) statement algorithms, respectively, — the Sui level relies connected delegated Proof-of-Stake, oregon dPoS. That means that SUI web users tin elite and ballot delegates to corroborate the adjacent block.

Related: Justin Sun issues apology aft Sui LaunchPool clashes with Binance CEO

The Sui task is celebrated for being built connected Move, a caller Rust-based programming connection designed astatine Meta, formerly known arsenic Facebook. Sui is backed by Mysten Labs, a Web3 infrastructure enactment founded by erstwhile elder executives astatine Meta’s Novi Research.

After Meta unopen down its crypto task Diem successful 2022, Mysten Labs started actively moving connected the Sui network. In September 2022, the Sui Foundation announced a $300 cardinal raise for the improvement of the Sui ecosystem.

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