Sui Network Hits 41M Daily Transactions, 863 tps, Clarifies Token Supply

May 5, 2024, 07:15 AM

The Sui Network recently achieved a significant milestone by surpassing Solana in daily transactions, recording 41 million transactions in a single day, a substantial increase from its usual 1-2 million. This surge was primarily attributed to the $SPAM project load test, which saw transaction speeds peak at 863 transactions per second (tps) and settle at 650tps. Additionally, the Sui Network has been involved in discussions regarding its token supply management. Critics, including Cyber Capital's founder, have raised concerns about the concentration of staked tokens, with over 8 billion SUI staked and more than 84% held by the founding team. In response, the Sui Foundation clarified that locked tokens are managed by third-party custodians and released strategically to support the ecosystem.