The recent launch of the Mysticeti Upgrade has catapulted the Sui Network ($SUI) to unprecedented levels of positive sentiment.
This significant update has transformed the network’s performance, enabling instant trades at scale with remarkable efficiency.
The recent launch of the Mysticeti Upgrade drove the #Sui $SUI Network to its highest level of positive weighted sentiment to date. pic.twitter.com/iPpWeUiu4V
— Ali (@ali_charts) August 22, 2024
The Mysticeti Upgrade achieves a consensus commit latency of 390ms and an end-to-end client latency of 640ms, setting a new benchmark for the lowest latency in blockchain technology.
2⃣ 390ms trade finality@SuiNetwork Mysticeti Upgrade enable instant trades at scale, achieving 390ms consensus commit latency and 640ms client E2Elatency, the lowest end-to-end latency in blockchain . pic.twitter.com/batCrrOkBw
— Gambitzzz (@tiandevano) August 12, 2024
The impact of this upgrade has been profound. According to on-chain analysts on X, the Sui Network has surpassed major blockchains like Polygon, Arbitrum, Base, and even Ethereum in transaction volume this year, with over 2.1 billion transactions recorded. This remarkable achievement underscores the growing adoption and utility of the Sui Network in the blockchain ecosystem.
💧@SuiNetwork has more transactions than Polygon, Arbitrum, Base and Ethereum combined this year. pic.twitter.com/zgJ1ZIyQPN
— ToreroRomero (@Torero_Romero) August 21, 2024
Sui NETWORK Gains Traction In The MarketÂ
In addition to these technical milestones, the Sui Network is also gaining traction in the market. Analyst Ali Martinez has highlighted that the TD Sequential, a technical indicator, has presented a buy signal on the $SUI weekly chart. If $SUI manages to sustain a close above the 50-week moving average, it could potentially trigger a 30% price increase, pushing the token to $1.20.
The TD Sequential presented a buy signal on the $SUI weekly chart. A sustained close above the 50-week moving average could trigger a 30% upswing to $1.20! pic.twitter.com/gULndDltiR
— Ali (@ali_charts) August 22, 2024
The combination of technological advancements and positive market indicators suggests that the Sui Network is on a strong upward trajectory. As the network continues to set new records in both sentiment and transaction volume, $SUI is becoming an increasingly attractive asset for investors and a critical player in the broader blockchain landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: marufahmedmd/123RF // Image Effects by Colorcinch
