Trust Wallet Adds Support for Sui Network

The cryptocurrency wallet Trust Wallet has integrated the Layer 1 blockchain Sui Network.

#TrustWallet will support the #SuiNetwork!

Manage your SUI tokens on mobile & #TrustWalletExtension after our engineers have finished working their magic! (stay tuned for updates).

Download Trust Wallet here and be ready: https://t.co/rmBjM5fPG8 pic.twitter.com/tFTyde7Rft

— Trust Wallet (@TrustWallet) May 3, 2023

According to CoinGecko, after launch of the mainnet, the daily trading volume of the native SUI token reached $1.6 billion, and its market capitalization stood at $723 million.

There are 528 million SUI in circulation with a total supply of 10 billion tokens.

During the initial minutes of listing on Binance, the token traded as high as $2.16, subsequently slipping 37% to $1.38.

Despite the negative momentum after the listing, token sale participants still benefited. Before listing, the token was sold at $0.03 and $0.1 — a potential profit of more than 200%.

The majority of SUI trading volume is on the Binance exchange (50%), followed by Bybit (12%), OKX (11%) and KuCoin (7%).

Earlier in November 2022, the Mysten Labs team launched the Wave 1 testnet. In March 2023, it implemented a permanent testnet for Sui Network, which will continue to operate after the protocol launch.

According to the Sui Foundation, more than 50% of the planned tokens will be allocated to the project after the mainnet launch.