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Grayscale Launches Sui Trust for Simplified SUI Token Exposure
Grayscale Investments has made a significant move in the cryptocurrency market by launching its latest trust, the Grayscale Sui Trust. This new product offers institutional investors and accredited individuals a convenient way to gain exposure to the SUI token without the need to directly purchase and store it.
With an initial net asset value (NAV) of $65.52 per share, the trust reflects the current price of the SUI token, which has seen an astonishing surge of over 500% this year. As a decentralized blockchain-based platform, SUI enables peer-to-peer transactions that are recorded on a public ledger. This remarkable growth has propelled SUI to become the ninth-largest blockchain in its DeFi ecosystem.
Despite some challenges faced by the SUI network, including a decrease in developer engagement and a fall in SUI DeFi TVL from $730 million to $385 million, the dollar-based TVL continues to grow primarily driven by the token’s increasing price.
Source: crypto-economy.com
