SUI Crypto, the blockchain gaining notoriety as a potential “Solana killer,” is making headlines again, this time as the official sponsor of President-elect Donald Trump’s upcoming inauguration.
Sponsorship and Eric Trump’s inclusion of SUI in his cryptocurrency portfolio greater excitement about the future of the token within the crypto community.
Eric Trump’s Portfolio Puts the Spotlight on SUI Cryptocurrencies
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in its crypto wallet, adding it to Bitcoin, Ethereum and Solana.
SUI Crypto may not have the clout of Ethereum or Solana, but its rapid rise and amazing technology make it impossible to ignore. Even with a weekly average – up 2.92% in 24 hours and 0.45% on a weekly basis – it is the 13th largest cryptocurrency, with a notable market capitalization of $14 billion.
99Bitcoin analysts point to the technology and growth of the network as fuel for future gains, and the Trump family’s interest in cryptocurrencies only adds to the frenzy.
How SUI Crypto Is Different From Eric Trump’s OG Crypto Wallet Picks
SUI’s roots date back to Meta’s failed Diem project, led by Mysten Labs and powered by the innovative Move programming language.
The advantage of SUI lies in parallel transaction processing and horizontal scaling, keeping fees low regardless of the amount of traffic handled. Using the Move programming language, it tracks blockchain assets with a level of security and efficiency that most smart contract systems can only dream of. And then there’s the speed: while Solana runs a respectable 65,000 transactions per second, SUI obliterates it with 297,000 TPS in testing.
But SUI isn’t just about raw numbers. It is making great strides in gaming and DeFi, most notably the SuiPlayoX1 handheld console. This $599 device, available for pre-order in September 2024, allows users to own dynamic NFTs linked to their in-game progress.
Additionally, big-name backers like Andreessen Horowitz and Franklin Templeton have demonstrated their confidence in SUI’s future, having helped secure more than $336 million in funding during its Series A and B rounds.
What SUI sponsorship means for the cryptocurrency market
By sponsoring Trump’s inauguration, SUI is not only attracting attention, but also trying to exert influence. The move is in line with Trump’s pro-cryptocurrency agenda, which advocates for lax regulations, tax-free cryptocurrency opportunities and even a federal Bitcoin reserve.
As market optimism increases, Trump’s endorsement and SUI’s involvement could bring greater visibility and credibility to the token
“What the Trump team is signaling to other countries is to be careful, otherwise you won’t keep up,” noted Kara Calvert, vice president of US policy at Coinbase.
Can this coin become Solana’s killer?
Crypto rivalries are not breaking news, but SUI’s technological approach gives it a real chance to compete with Solana. By addressing fundamental issues such as security, scalability, and complexity, SUI is establishing itself not just as another blockchain, but as the blockchain for mainstream adoption.
Eric Trump’s endorsement and SUI’s sponsorship of his father’s inauguration add weight to his upward trajectory. It remains to be seen whether he will actually earn the bold nickname “killer Solana”. But one thing is certain: SUI does not play for small bets.
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