Chainfeeds Summary:
PANews found through analyzing data on the Sui ecosystem that social and gaming are the main drivers of Sui ecosystem growth, while DeFi-related infrastructure development is still to be developed.
Source:
https://www.panewslab.com/zh/articledetails/3a3nvpah.html
Author:
PANews
Viewpoint:
PANews: The recent surge in transaction volume should be due to another Sui ecosystem mining project, FomoSUI. According to the data, in the past seven days, the FomoSUI contract has created 228 million transactions, accounting for more than half of the Sui network's total transaction volume. The number of participating accounts is about 95,000. FomoSUI is a Bitcoin-style POW token launched by Foundation3DAO on the Sui blockchain, and this round of mining fever seems to have once again fallen into the cycle of mining and selling, with miners expressing "no profit" in the community. The market cap of the FOMO token was about $730,000 on October 11, with a liquidity pool of $70,000. It seems that the surge in transaction volume brought by FomoSUI is another abnormal change. Perhaps learning from the lesson of SPAM last time, the Sui official did not interact with this project. From the transaction volume, the transaction amount on the Sui chain has indeed increased significantly, from a daily average of about $50 million to around $200 million. The above data growth should be highly related to the heat of MEME. According to official data, on October 9, the number of new tokens on Sui exceeded 10,000, while at the end of September this number was less than 1,000 per day, and the current level of new token issuance is already close to Solana. In terms of capital inflow, Ethereum is still the largest source of capital inflow to Sui, accounting for 87% of the capital inflow to Sui in the past month. Sui, which originated from Facebook, also has a preference for social in its ecosystem development. From the active user data of the ecosystem, RECRD, a TikTok-like short video software, ranks first with a daily active user of 869,000, second only to FomoSUI. Another SocialFi project, FanTV, also ranks fourth in activity on Sui, with 92,000 active users on October 11. In addition to social applications, gaming is another key sector of the Sui network, with a casual TG game called Birds having over 190,000 daily active users. Another GameFi-related project, Aylab, is also among the top ten applications. The two SocialFi projects account for 65.9% of active users, and the three GameFi-related applications account for about 24.7%. These 5 projects with high active user participation account for 90% of the total. It seems that the real strength of Sui still relies on social and chain games.
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