SUI Sui Rank #29 $0.8372 ▲ 2.77%

SUI is the native token of the Sui Network, a Layer 1 blockchain built by Mysten Labs, a team of former lead engineers from Meta's blockchain research division. Sui is designed to support high-throughput decentralized applications, digital asset ownership, and Web3 services through a secure, scalable architecture. Unlike traditional account-based ledgers, Sui organizes data into independent objects. This object-centric model enables parallel transaction execution, allowing the network to process many transactions simultaneously and achieve fast finality. Sui uses the Move programming language, which provides a robust framework for smart contract development, and supports horizontal scaling to keep transaction fees low as activity increases. A storage fund collects fees and rewards validators for maintaining on-chain data over time. The SUI token is the primary asset used to pay transaction fees and power on-chain activity across decentralized exchanges, lending platforms, and other applications. Holders can stake SUI in a proof-of-stake mechanism to secure the network and earn rewards, while also participating in governance decisions. Sui additionally offers user-friendly features such as zkLogin for simplified access and sponsored transactions. The project has attracted institutional backing from Andreessen Horowitz, Coinbase Ventures, Circle Ventures, and YZi Labs.