Official reports from Grayscale or financial news outlets

Grayscale Launches SUI Trust, Sui Price Surges Over 17.4% to $1

Sep 12, 2024, 02:57 AM

Grayscale has launched the SUI Trust, targeting accredited investors seeking exposure to Sui (SUI), a third-generation blockchain designed to address scalability and transaction costs. Following the announcement, Sui's price surged over 17.4%, reaching the $1 mark. The Sui blockchain is noted for its scalability, security, and speed, making it a competitive player in the cryptocurrency market. The trust has backed the Sui blockchain with $916,000 in assets. This development has generated significant interest and investment, with Sui outperforming the market amid a broader cryptocurrency rally. Sui is also expected to skyrocket into the top 10 cryptocurrencies.