- The core SUI crew requested Binance, ByBit, KuCoin, OKX, and different crypto exchanges to not checklist perpetual buying and selling contracts for the token that was issued right this moment.
- At the least 4 main exchanges dedicated to supporting SUI buying and selling on spot pairs with different tokens like USDT, BTC, and ETH.
- The venture stacked with former Diem devs additionally launched its Layer 1 mainnet community on Could 3 with over 200 million tokens in circulation and over $10 billion in FDV.
Binance and different crypto exchanges had been requested to stall itemizing SUI perpetual buying and selling contracts, per an official request from the core SUI crew cited on Wednesday. 4 main exchanges together with Binance and Kucoin have briefly honored the request, supporting solely spot buying and selling for now.
The token opened buying and selling as excessive as $4 on some buying and selling venues earlier than crashing greater than 70%. Buying and selling volumes rose above $300 million within the first 24 hours of buying and selling. OKX skilled downtimes as merchants flocked to the brand new and high-anticipated L1 blockchain token.
Buying and selling exercise on Binance made up over 60% of the token’s spot quantity shortly after launch, per CoinGecko information.
The request was publicly disclosed shortly earlier than buying and selling venues listed the token for spot buying and selling. Different crypto exchanges like BitMex and MEXC ignored the request, supporting each spot and perpetual futures buying and selling on their platforms.
Diem Devs Activate SUI Mainnet
Former Diem builders launched the SUI Layer 1 mainnet on Could 3 after years of constructing the community. The chain’s genesis blob was activated per a Discord server replace, thrusting the Mysten Labs’ brainchild right into a aggressive L1 market.
The designated proof-of-stake (dPoS) community plans to onboard over 200 entities from DeFi, decentralized purposes, NFTs, blockchain gaming, and extra into its ecosystem over the following few months.
SUI was developed utilizing an off-shoot of the Rust programming language dubbed Transfer. Rust was initially created for Meta’s failed Diem blockchain venture. The dPoS chain leverages two high-performance throughput mempool and consensus engines referred to as Narwhal and Bullshark, each developed by Mysten Labs.