Sui
is trading at $3, up about 4% in the past 24 hours, as the token continues to rally following an announcement by Lion Group Holding Ltd. (LGHL) that it intends to acquire SUI tokens as part of a broader $600 million crypto treasury strategy.
The strategy was announced on June 26, triggering a rally in the price of the token, which is currently up nearly 15% over the past 7 days.
Sui’s network has emerged as Solana’s
primary challenger in the Layer-1 blockchain space, recording remarkable 54% developer growth over two years while most crypto ecosystems face significant developer attrition, according to a report from Electric Capital.
