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![](https://gimg2.gateimg.com/image/article/17271841251692587449analysis.jpeg)
## [TL；DR]: 
Since the market entered the generally bearish "September effect," many cryptocurrencies have experienced a state of decline or sideways movement.
However, SUI has continued to buck the trend and rise 100%, becoming the Layer1 sector-leading token.

The rise of SUI benefited from increased institutional recognition, technological innovation, stablecoin integration, and the favor of market funds.

Sui chain lending protocol Suilend, liquidity protocol DeepBook, and other open interactive reward activities.

## Introduction
As a frequent visitor to our Blog posts, Sui Network (SUI) has recently performed brilliantly, with the currency price steadily rising by 100% in September, TVL also climbing to $900 million, and led to the same MOVE system <a href="/price/aptos-apt" target="_blank" class="blog_inner_link">Aptos</a> (APT), and the ecosystem is showing a prosperous scene. In this article, we will continue to interpret SUI's recent ecosystem development and participation opportunities.
 
## The Crypto Price Rose Against the Trend, and the Beneficial Effect of Sui was Significant
If the Layer1 sector token performed best in September, Sui Network (SUI) undoubtedly topped the list.

According to data from Gate.io, since the market entered the generally bearish "September effect," although many cryptocurrencies have experienced a state of decline or sideways movement, SUI has continued to buck the trend, steadily climbing from $0.8 to around $1.6, a monthly increase of up to 100%. It entered the top 20 with a market capitalization of $4.24 billion, second only to Near.
 ![](https://gimg2.gateimg.com/image/article/17271845561.jpg)
Source: Gate.io
 
According to the data of coinglass, the trading volume of SUI surged recently, and the trading volume of 24H even reached 50% of the circulating market cap, while the open interest in the market increased by 9.37% to about $439 million, indicating the strong growth of market participation and traders' participation and confidence in SUI.
 ![](https://gimg2.gateimg.com/image/article/17271845732.jpg)
Source: @vyz_cm
 
Although the currency's price is still some way from its previous high, TVL has quickly reached a record high of nearly $900 million. Among them, the lending protocol NAVI Protocol TVL reached $310 million, an increase of 16.25% in 7 days; the lending protocol Scallop Lend TVL reached $140 million, up 19.79% in 7 days; and the lending platform Suilend TVL reached $134 million, up 14.63% in 7 days.
 ![](https://gimg2.gateimg.com/image/article/17271845893.jpg)
Source: DeFiLlama 
 
The growth rate of TVL far exceeds the currency's market value, which undoubtedly shows a relatively healthy business development trend. This is also an important reason why many observers are optimistic about it becoming the next SOL.

SUI's rise naturally also led to the rise of ecosystem tokens such as Cetus (CETUS) and NAVI Protocol (NAVX), of which SuiPad (SUIP) led the market with a 24H increase of 86%.
 
## The Ecosystem Layout Action is Frequent, and the Influx of Institutions is Pushing up the Price of Coins
The surge in the price of SUI tokens is traceable, and the acceleration of institutional funds in the layout of SUI is undoubtedly the most direct driving clue. Grayscale's SUI Trust fund, launched in mid-September, provides institutional investors with direct access to SUI. According to market sources, some Asian funds also bought large amounts of SUI over the counter. Institutional entry into the transaction increased the market's recognition and confidence in the token, further driving up SUI's market demand and price.
 ![](https://gimg2.gateimg.com/image/article/17271846154.jpg)
Source: @Grayscale 
 
Secondly, the Sui Network ushered in several technological innovations and cooperation. Recently, Sui Network began to make efforts in the stablecoin circuit. The stablecoin AUSD has been launched on the Sui Network, and with Sui's collaboration with Circle, the UDSC (<a href="/price/usd-coin-usdc" target="_blank" class="blog_inner_link">USD Coin</a>) stablecoin is about to receive native support from the SUI network via the Cross-Chain Transfer Protocol (CCTP). This enriches the payment means of the SUI Ecosystem,strengthens the interconnection between networks, and improves the user experience and security.
 ![](https://gimg2.gateimg.com/image/article/17271846315.jpg)
Source: @vyz_cm 
 
In addition, the Mysticeti upgrade has significantly reduced transaction processing times, improved the overall performance of the SUI network, and enabled it to remain efficient during network congestion.  More recently, it has tested offline crypto transactions over the airwaves.

In short, SUI's rise benefited from a series of positive events, including the recovery of the <a href="/price" target="_blank" class="blog_inner_link">crypto market</a>'s overall sentiment. The improvement of institutional recognition, technological innovation, stablecoin integration, and the favor of market funds contributed to SUI's strong performance.
 
## Opportunities for Ecosystem Engagement with SuiTember
Sui is a new high-performance public chain launched in this bull market. In our early observations, its currency price and ecosystem development performance are not as bright as Aptos's. However, as the network continues to attract users and capital, especially with the blessing of USDC, Sui does show unique competitiveness in the Layer 1 competitive landscape and is expected to play a more important role in future development.

@vyz_cm, the co-founder of the Sui Network mentioned above, also recently called September "SuiTember", but what are the ecosystem opportunities for SUI other than Sui's successive record prices?

The first was the airdrop of 436,386 SUI by Suilend, the SUI-chain lending protocol. Suilend's airdrop activities encourage users to participate in a variety of ways, such as lending subsidies, points system, and meanwhile, there are some NFT (non-fungible token) projects closely related to Suilend, although some NFT projects officially declare that they do not directly participate in airdrops, there are still potential connections and expectations.
 ![](https://gimg2.gateimg.com/image/article/17271846686.jpg)
Source: suilend.fi 
 
For example, users who lend through Suilend (deposit stablecoins and lend out other assets such as ETH and SOL) can receive SUI token subsidies. This subsidy mechanism enables users to lend assets at very low interest rates (even negative interest rates) and deploy them into other protocols to earn spreads, with a combined annualized yield of more than 15%, and accumulate Suilend points.

In addition, DeepBook, a similar Sui mobility protocol, announced that it has updated its white paper. The new version includes 10% of the initial community airdrops, 28.43% of core contributors and early supporters, and the remaining 61.57% allocated to community activities such as future grants, community programs, and community initiatives.

Of course, the consistent feature of this bull market is that the positive performance of the public chain ecosystem and tokens often brings about the rise of the corresponding MEME, which gives many investors who fail to get on the bus in time the opportunity to hype. Similarly, memes of the Sui chain have also increased recently, such as Sacabam (SCB), Scuba Dog (SCUBA), and Suishicat (SUISHI), all of these coins increased more than SUI. Blub (BLUB), which has always been a fish theme, is currently valued at $43 million, ranking first in the chain's MEME market cap, and becoming the main MEME target for many traders to focus on speculation.
 ![](https://gimg2.gateimg.com/image/article/17271846907.jpg)
Source: dexscreen 
 
In short, Sui has strong technical performance and potential for future development. The recent price rise is driven by many factors, such as technological innovation, institutional intervention, and ecosystem expansion, which is also consistent with the conclusion that our past Blog posts have been optimistic about the chain many times. We will continue to focus on and share more insights in the following articles.



<div class="blog-details-info">
<div>Author:**Carl Y.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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Sui _SUI_, as the new high-performance Layer1 rising in this bull market, showed a significant upward trend in the currency price in September, which caused extensive attention and participation in the market.

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With Crypto Price Rising 100% Monthly, What are the Opportunities for SUI Ecosystem?