Grayscale Opens Sui Trust To Investors, How Will This Impact SUI Price?

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As a seasoned analyst with over two decades of experience in the cryptocurrency market, I find the launch of Grayscale Sui Trust to be an intriguing development. The trust offers institutional-grade access to SUI, a third-generation blockchain that has shown impressive growth this year.

Grayscale Investments unveiled the debut of the Grayscale Sui Trust, offering qualified investors a chance to invest in the SUI token through a security. This trust, tailored for institutional-level access, serves as an easy avenue for investors to engage with the SUI ecosystem without needing to directly possess the digital asset.

Grayscale Sui Trust Opens for Accredited Investors Tracking SUI Price

As per the latest update from X, the Grayscale Sui Trust has been made accessible to qualified accredited investors. This trust serves as an efficient means for investors to acquire exposure to SUI, a blockchain of the third generation that emphasizes scalability and minimizing transaction costs.

By December 18, 2024, the Grayscale Sui Trust holds assets valued at approximately $12.88 million, with each share having a net worth of around $65.52. The value of shares in this trust will correspond to the price of SUI after deducting fees and other expenses. This provides investors with an easy and secure option to invest in the token without needing to purchase and store it directly.

Additionally, it’s worth noting that the Grayscale Sui Trust follows the price of SUI, which has experienced an impressive increase of more than 500% this year. SUI functions within a decentralized blockchain system, facilitating direct transactions between users while maintaining records on a shared, public database. This remarkable growth has propelled SUI to rank ninth among blockchains in terms of Total Value Locked (TVL) within its DeFi environment.

Nevertheless, some hurdles still need to be addressed. Latest figures indicate that the Total Value Locked (TVL) in SUI DeFi has dropped to 385 million SUI from its highest point of 730 million SUI in September. Contrary to this decrease when measured in SUI, the growth in dollar-denominated TVL continues, primarily fueled by the escalating price of SUI.

Tracking Development Metrics and Ecosystem Growth

On the flip side, it appears that the level of development work on the SUI network has diminished. A key measure of developer involvement, commit activity, has dwindled to 950 in December, contrasting sharply with its highest point of 5,300 in May 2023. Additionally, the number of active core developers has decreased from a yearly high of 86 to just 44.

Despite this, the SUI Trust ecosystem shows positive trends. The stablecoin volume on the network now exceeds $377 million. Decentralized exchanges such as Cetus, Bluefin, and DeepBook are reporting strong transaction volumes, reflecting continued user interest.

Introducing Grayscale’s Sui Trust signifies an important step towards offering top-tier investment opportunities in the SUI platform. Although there are hurdles to overcome, this new trust could spur curiosity within the SUI community, possibly impacting the direction of SUI prices.

However, despite the announcement of Grayscale Sui Trust’s launch, SUI price has dropped 12% over the past 24 hours to $4.13. Market capitalization stands at $12.09 billion, while trading volume surged 108.96% to $3.1 billion.

In the midst of a fall in Litecoin‘s (LTC) price, Grayscale Investments has boosted its ownership by acquiring 2,230 LTC on Thursday, bringing its total purchase within the last month to over 41,100 coins. According to CoinGlass, the company now holds more than $220 million worth of Litecoin.

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2024-12-19 22:02