{"id":322430,"date":"2023-05-03T13:51:45","date_gmt":"2023-05-03T12:51:45","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=322430"},"modified":"2023-05-03T13:51:45","modified_gmt":"2023-05-03T12:51:45","slug":"sui-mainnet-launches-trades-for-less-than-2","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/sui-mainnet-launches-trades-for-less-than-2\/","title":{"rendered":"SUI mainnet launches, trades for less than $2"},"content":{"rendered":"<p>Sui's (<a href=\"https:\/\/cryptoslate.com\/coins\/sui\/\">SUI<\/a>) mainnet is now live, and its native token is now trading across various exchanges like Binance, Bybit, and others.<\/p>\n<p>The mainnet went live at 12:00 UTC and began trading across major exchanges for less than $2.<\/p>\n<h2>SUI is down more than 70%; trading volume surpasses $300M in 30 minutes<\/h2>\n<p>The SUI token has declined by 72% in less than 30 minutes to $1.29 after it opened for trading, according to CoinMarketCap data. The token's trading volume is currently at $336 million as of press time.<\/p>\n<p>The token has a market cap of $284.46 million, according to CoinMarketCap.<\/p>\n<p>On Binance, the token started trading for $2 but rapidly declined to $1.27 as of press time. The exchange's data <a href=\"https:\/\/www.binance.com\/en\/trade\/SUI_USDT?theme=dark&type=spot\">showed<\/a> it already has a trading volume above $200 million USDT.<\/p>\n<p>Binance users had deposited over $4 billion on the exchange within two days to <a href=\"https:\/\/cryptoslate.com\/binance-to-take-action-against-justin-sun-if-he-farms-sui-token\/\">farm the token.<\/a><\/p>\n<p>On other exchanges like KuCoin, it is trading for $1.28 with a trading volume of $34 million.<\/p>\n<h2>What is Sui?<\/h2>\n<p>Sui is a layer1 blockchain network built on Move developed by <a href=\"https:\/\/cryptoslate.com\/ftx-plans-to-sell-stake-in-mysten-labs-for-96m\/\">Mysten Labs<\/a>. The project had gathered broad interest from the crypto community \u2014 raising $300 million in a September 2022 funding round that included bankrupt exchange FTX.<\/p>\n<blockquote><p>&#8220;Sui\u2019s object-centric model, based on its novel architecture, enables parallel transaction processing, sub-second finality (on average, just 480 milliseconds), and rich on-chain assets.&#8221;<\/p><\/blockquote>\n<p>According to information on its official Twitter <a href=\"https:\/\/twitter.com\/SuiNetwork\/status\/1651701079128821760?s=20\">handle<\/a>, the network has 100 globally distributed validators and achieved a peak throughput of nearly 300,000 transactions per second (TPS).<\/p>\n<p>The managing director of the Sui Foundation, Greg Siourounis, <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230503005190\/en\/Sui-Launches-Mainnet\">said<\/a>:<\/p>\n<blockquote><p>&#8220;Today is a monumental milestone for the entire Sui community and the digital asset ecosystem as a whole. For the first time, builders and users have access to a Layer 1 blockchain that allows developers to build freely, without being inhibited by complex infrastructure, and unlocks endless possibilities for users across the world.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Sui&#8217;s (SUI) mainnet is now live, and its native token is now trading across various exchanges like Binance, Bybit, and others. The mainnet went live at 12:00 UTC and began trading across major exchanges for less than $2. SUI is down more than 70%; trading volume surpasses $300M in 30 minutes The SUI token has [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":322440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,76736,6849],"tags":[78525],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SUI mainnet launches, trades for less than $2<\/title>\n<meta name=\"description\" content=\"SUI has declined by more than 70% in less than 30 minutes after its mainnet launch, according to CoinMarketCap data.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/sui-mainnet-launches-trades-for-less-than-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SUI mainnet launches, trades for less than $2\" \/>\n<meta property=\"og:description\" content=\"SUI has declined by more than 70% in less than 30 minutes after its mainnet launch, according to CoinMarketCap data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/sui-mainnet-launches-trades-for-less-than-2\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-03T12:51:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/sui-droplet.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/sui-mainnet-launches-trades-for-less-than-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/sui-mainnet-launches-trades-for-less-than-2\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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