Sui token surges following the launch of Grayscale Sui Trust

On August 7th, Grayscale Investments created a new crypto trust that will offer clients exposure to Layer 1 blockchain Sui.

The news acted as a catalyst, propelling the price of the SUI token up by a staggering 68% from its initial value of $0.56 to reach $0.94 within just 5 days. With a market capitalization of $2.45 billion, SUI currently ranks 30th on the list of cryptocurrencies by market capitalization.