The price of SUI, the native cryptocurrency of Sui Network, hit $4,43, setting a new all-time high (ATH) amid excitement over the Phantom Wallet integration.
The new milestone in SUI price comes at a time of great excitement within the crypto community, especially following the announcement of the integration of Phantom Wallet, one of the most popular and respected non-custodial digital wallets on the market, into the Sui ecosystem.
Jameel Khalfan, Global Head of Ecosystem at the Sui Foundation, highlighted the potential of this integration, noting that the arrival of Phantom Wallet on the Sui network represents a major leap forward for this blockchain ecosystem, as it will provide users with broader access to a first-class wallet experience, which boasts several features that the Sui community has been waiting for.
SUI's new ATH of $4,43
According to data from CoinMarketCap, SUI price rose to $4,43 on December 5, setting a new ATH for the cryptocurrency.
SUI price had been on the rise in recent weeks, in line with the bullish rally that the broader crypto market is experiencing. According to the data, the cryptocurrency’s price growth is over 23% in the past week and 92% in the past month. Moreover, the daily trading volume has also seen a significant increase, surpassing $4.400 billion at the time of writing.
Source: CoinMarketCap
As mentioned, the news of the integration of Phantom Wallet, known for its robustness and ease of use, seems to be the main catalyst for SUI's price and its new historic milestone.
Phantom integration into Sui Network
The Sui Foundation has officially announced that Phantom Wallet will add support for Sui, joining other layer-1 blockchains such as Solana, Bitcoin, and Ethereum. This integration is a significant step for Sui, as Phantom Wallet boasts over 7 million monthly active users and has processed over 560 million on-chain transactions so far this year.
Sui's integration into Phantom Wallet not only expands the chain's potential user base, but also improves interoperability between different blockchain ecosystems. This move demonstrates the industry trend towards a multichain infrastructure, where wallets and applications can interact with multiple blockchains seamlessly and securely.
Also, Phantom Wallet's decision to include Sui is a vote of confidence in the project, which has demonstrated a strong focus on scalability and efficiency. The Sui network has implemented innovative solutions to address performance and security challenges, which has positioned it as one of the most promising layer 1 chains on the market. In relation to this, Khalfan thanked the decision, stating that the Phantom Wallet developers are selective about the blockchains they support, and that he was proud and grateful that Sui was included among the notable group of blockchains connected to the wallet.
The benefits for Sui users and developers
The integration of Phantom Wallet with Sui will bring a number of benefits for both users and blockchain developers. For users, the main advantage is access to a high-quality and trusted wallet, offering a wide range of features and an intuitive user experience.
Phantom Wallet will provide Sui users with the ability to manage their SUI tokens securely and efficiently. Additionally, the wallet offers advanced features such as staking, in-app token swaps, NFT storage, and multi-chain support; all functionalities that will enrich the user experience by allowing them to interact with multiple blockchains from a single interface.
For developers, this integration also means a greater reach for projects and a broader user base. This is due to the millions of users using Phantom in the blockchain ecosystem, which could facilitate the adoption of decentralized applications and services built on the Sui chain.
In short, the integration of support for the Sui network into Phantom Wallet is a significant milestone for both parties, which will unlock access to a massive user base and improve Sui’s interoperability with other blockchain ecosystems, while enriching and reinforcing Phantom’s position as one of the most complete and trusted wallets in the crypto market.
