This past week, SUI Tokens and PEPE Tokens were among the most popular hot topic. One is a smart contract platform that gained massive attention. The latter is a meme coin that skyrockets, racking traders tons of profit. However, we will focus our attention on the newly launched token SUI Token.
Why is SUI Tokens so Popular?
On Monday, Binance launched the highly-anticipated SUI token through its Launchpad program. It is available to BNB and TUSD holders. The launchpad event concluded on Tuesday and resulted in over $4 billion worth of staked tokens by users. Furthermore, the total amount deposited in the pool exceeded $4.02 billion, with $770 million in the TUSD pool and $3.2 billion worth of BNB.
This generated a great deal of exposure towards SUI Tokens.However, due to the overwhelming demand, the average return on investment was only 0.016 SUI per dollar invested. Meanwhile, Founder of Tron, Justin Sun might have accidentally pumped the value of SUI tokens himself.
Justin Sun’s $56 Million Transfer
On Monday, Sun transfered $56M into Binance, causing displease to the community. In fact, some thought that he was planning to hoard SUI Tokens. Changpeng “CZ” Zhao immediately took it to Twitter in response to the news. He cautioned Sun that if he uses the funds to acquire Sui tokens on Launchpool, Binance will take action against it.
Twenty minutes later, Sun responded to CZ’s warning with an apology. He stated that the transfer was a result of an oversight that occurred as a result of TRON DAO’s market-making partnership with TUSD. Additionally, it was not an attempt by him to accumulate Sui tokens. Sun also explained that team members who were not fully informed about the intended purpose of the funds used a portion of them to participate in exchange campaigns, thus bearing the responsibility for the transfer.
However, the damages were done and users were flocking in to grab a piece of the hot cake. SUI Tokens are currently trading for $1.3637 at MEXC! Find out how to buy it immediately!
Personal Note From MEXC Team
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