What Makes Sui Special?
The Alt-L1 has been pumping, but does it have the tech to justify its climbing price?
Few things stir Crypto up quite as much as alt-L1s.
Though these new chains always promise to be bigger, faster, and better than Ethereum, few last long enough to deliver on their big promises. This cycle has welcomed a new cohort of competitors, and VC-backed Sui has garnered plenty of attention.
A descendant of Facebook’s defunct Diem project, Sui raised $330M from a16z, Coinbase, and Jump and launched in May 2023. Since then, it has amassed over $600M in TVL. Sui has also been lighting up the crypto markets this week, leading alt-L1s in gains over the past week (47%) and month (13%).
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David Christopher
David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.
