{"id":342445,"date":"2023-07-14T16:40:36","date_gmt":"2023-07-14T15:40:36","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=342445"},"modified":"2023-07-14T16:16:38","modified_gmt":"2023-07-14T15:16:38","slug":"sui-network-hits-1m-active-addresses-within-two-months-of-launch","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/sui-network-hits-1m-active-addresses-within-two-months-of-launch\/","title":{"rendered":"Sui Network hits 1M active addresses within two months of launch"},"content":{"rendered":"

Layer-1 blockchain Sui (SUI<\/a>) Network reached 1 million active addresses less than two months after its mainnet launch, according to a July 14 press statement shared with CryptoSlate<\/em>.<\/p>\n

Greg Siourounis, the managing director of the Sui Foundation, stated that the blockchain network's success showed a growing demand for the platform. Siourounis added:<\/p>\n

“Sui\u2019s success so far is a direct result of having a community and an ecosystem which are energized by the prospect of turning technology into solutions and fully committed to helping Sui build beyond what currently exists.”<\/p><\/blockquote>\n

Sui adoption grows<\/h2>\n

Since its launch in May, the project has enjoyed heavy adoption as it has incentivized<\/a>\u00a0developers to build on its network and\u00a0scored several partnerships, including one with the Formula 1 team, Oracle Red Bull Racing. This partnership would allow the blockchain project to help the F1 team improve its fan connection through new digital experiences.<\/p>\n

Data<\/a> from Suivision showed that the network has 1072 NFT collections that have minted over 3 million NFTs, with more than 625,000 holders.<\/p>\n

\"Sui
Source: Suivision<\/figcaption><\/figure>\n

Decentralized finance (DeFi) activity on Sui appears to have flatlined after peaking at $36 million during its launch. The total value of assets (TVL) on the network has dropped to $13.3 million as of press time, according to DeFillama data.<\/p>\n

\"Sui
Source: DeFillama<\/figcaption><\/figure>\n

Meanwhile, the network has had its fair share of troubles, with one DEX, NemoSwap, misleading the public<\/a> about its investors. Additionally, the project awarded<\/a> $500,000 to blockchain security firm CertiK for discovering a critical ‘HamsterWheel' vulnerability on its network on June 19.<\/p>\n

Sui trades under $1<\/h2>\n

Despite its heavy adoption and network usage, Sui's price has considerably struggled, trading at under $1 since the beginning of June, according to CryptoSlate's<\/em> data.<\/p>\n

\"Sui
Source: Tradingview<\/figcaption><\/figure>\n

The\u00a0SUI<\/a>\u00a0token trades at $0.7106 as of press time, according to CryptoSlate's<\/em>\u00a0data. This is 46% down from its all-time high of $1.4.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Layer-1 blockchain Sui (SUI) Network reached 1 million active addresses less than two months after its mainnet launch, according to a July 14 press statement shared with CryptoSlate. Greg Siourounis, the managing director of the Sui Foundation, stated that the blockchain network’s success showed a growing demand for the platform. Siourounis added: “Sui\u2019s success so […]<\/p>\n","protected":false},"author":720,"featured_media":342452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,77968,37],"tags":[78525,78694],"post_folder":[],"acf":[],"yoast_head":"\nSui Network hits 1M active addresses within two months of launch<\/title>\n<meta name=\"description\" content=\"Blockchain network Sui has reached 1 million active users less tha two months after its mainnet launch, according to a statement.\" \/>\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-network-hits-1m-active-addresses-within-two-months-of-launch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sui Network hits 1M active addresses within two months of launch\" \/>\n<meta property=\"og:description\" content=\"Blockchain network Sui has reached 1 million active users less tha two months after its mainnet launch, according to a statement.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/sui-network-hits-1m-active-addresses-within-two-months-of-launch\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-14T15:40:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-14T15:16:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/07\/sui.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-network-hits-1m-active-addresses-within-two-months-of-launch\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/sui-network-hits-1m-active-addresses-within-two-months-of-launch\/\"},\"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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