25 February, 2024

Game Launch Boosts Sui Network’s Transactions and Active Addresses

7 months ago

26 Oct, 2023

The Sui network has recently experienced a remarkable surge in transactions and active addresses, marking a significant milestone in its growth. Transactions on the network have spiked to over 1 million, showcasing a staggering increase of over 3,000% within the past 30 days. This surge in transaction activity could be attributed to the launch of a captivating game called Game 8192.

According to Artemis, a decentralized mobile-focused NFT social and trading platform, the surge in transactions on the Sui network is directly linked to the popularity of Game 8192. Each play of the game generates transaction blocks, leading to a notable increase in transaction activity. The sheer volume of transactions indicates a substantial influx of enthusiastic players engaging with the game on the Sui network.

In addition to the surge in transactions, the Sui network has also witnessed a significant increase in active addresses. Around 7 July, the number of active accounts peaked at over 30,000, surpassing the previous highest recorded number of approximately 13,000. Although the active account count has receded slightly, it currently stands at over 18,000, demonstrating the growing engagement within the network.

Despite the impressive surge in transactions and active addresses, some metrics have shown a relatively flat trend. The number of new accounts recorded on the Sui network has remained stagnant, suggesting limited growth. Furthermore, data from DefiLlama indicates that the Total Value Locked (TVL) on the platform has not experienced any significant increase, currently hovering around $13.1 million.

Notably, Sui is ranked 81st on CoinMarketCap, while it currently trades at $0.7425, with a 7.10% increase in the last 24 hours. The 24-hour trading volume is $420,815,285, indicating active market participation. The market capitalization of Sui is $488,113,522, and when considering the maximum supply, its fully diluted market capitalization amounts to $7,457,274,530.

The surge in transactions and active addresses on the Sui network showcases the growing interest and engagement within the community. The launch of Game 8192 has played a vital role in driving this surge, with enthusiastic players contributing to the significant increase in transaction activity. While some metrics, such as new accounts and TVL, have shown a flat trend, the network’s overall growth and development indicate promising prospects for the future.