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Cryptocurrency News Articles
Sudeng (HIPPO) Rallies 30% as Meme Coins Recover, Sui Blockchain (SUI) Sees Robust Activity
Oct 04, 2024 at 10:27 pm
Sudeng, a recently launched meme coin on the Sui Blockchain, rose by over 30% as cryptocurrencies recovered.
Sudeng (HIPPO), a meme coin on the Sui Blockchain, saw a massive surge of over 30% on Oct. 3 as cryptocurrencies recovered from last week's downturn.
HIPPO price soared to a record high of $0.0143 on Monday, marking a 180% increase from its lowest level this week.
This rally came amid a surge in demand for Sui (SUI) meme coins, which saw their total market capitalization rise to $234 million.
Blub, the second-largest meme coin in the ecosystem after Sudeng, rose by 10% in the last seven days. Fud the Pug (FUD) and aaa Cat jumped by over 107% and 665% in the same period.
Sudeng's rally comes as the Sui Blockchain continues to see strong activity. SUI token has been the best-performing large coin in the last 30 days, surging by over 127%.
Data shows that the total value locked in the Sui ecosystem has increased by over 66% in the 30 days to reach $1.01 billion.
This growth places Sui as the seventh-largest blockchain in the industry, with the top spots being held by NAVI Protocol, Cetus, Suilend, and Scallop Lend.
Sui has also become a major force in the decentralized exchange (DEX) sector, largely driven by the strong performance of meme coins in the ecosystem.
DEX volume on Sui rose by 32% in the last seven days to reach $826 million, ranking sixth in the industry.
According to data from Suiscan, the total transactions in the Sui network increased by over 12.5 million in the last 24 hours to reach 2.02 billion.
Meme coins have become a significant segment of the crypto industry, with CoinGecko data indicating that meme coins have a collective market capitalization of over $50 billion.
The surge in meme coins has led to some individuals amassing vast wealth. According to Lookonchain, one Sudeng holder sold their 2.53 billion HIPPO tokens for $7,500.
At the current price of Sudeng, these tokens would be valued at over $30 million.
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- PayPal Completes First Corporate Payment Using PYUSD Stablecoin
- Oct 05, 2024 at 02:25 am
- PayPal has successfully completed its first business transaction using its own stablecoin, PayPal USD (PYUSD). But the exact payment amount was not disclosed. This highlights the steady use of crypto assets for payment purposes.