The SUI ecosystem projects are flourishing, and meme coins continue to gain popularity.

Recently, the focus of the cryptocurrency market has mainly concentrated on two aspects: the continuous expansion of the meme coin sector and the strong performance of the SUI public chain.

The meme coin sector continues to remain active, with new projects emerging and creating wealth effects. Meanwhile, as a Layer 1 public chain launched at the end of the previous bull market, SUI has recently shown impressive performance. Although its token distribution model differs from the meme coins that emphasize fair asset issuance, the price of SUI has still surged by approximately 185% in just a month and a half, climbing from $0.76 at the beginning of September to a peak of $2.16, almost reaching the historical high of $2.18.

The recent surge of SUI is driven by institutional funds, focusing on the narrative of "replacing Solana." The influx of capital has not only pushed up the price of SUI coins but also boosted the overall development of its ecosystem, including the growth of the total locked value (TVL), the prosperity of ecological projects, and even meme coins have benefited from this wave of increase.

Let's take a look at a few important projects in the SUI ecosystem that are worth paying attention to:

Cetus

Cetus is the largest decentralized exchange in the SUI ecosystem ( DEX ). It adopts a concentrated liquidity mechanism similar to Uniswap V3, offering a diversified product range that includes DEX, liquidity pools, gun pools, yield vaults, and Launchpad. The platform also integrates the central limit order book DeepBook and the Wormhole cross-chain bridge functionality.

Cetus's Launchpad feature provides an initial token issuance platform for SUI ecosystem projects, allowing users holding xCETUS tokens to participate in these issuance activities. The past few IDOs, including CETUS, SUIA, and NAVX, have all been oversubscribed, which is an important factor in Cetus's leading position in the DEX field.

Currently, the locked amount on the Cetus platform exceeds $200 million, ranking fourth in the SUI ecosystem, with an 83% growth over the past month. Its native token $Cetus has seen a price increase of 180% in the last 30 days, currently trading at approximately $0.17, close to the historical high of $0.186. Cetus currently has a market capitalization of $54.52 million, ranking 638th on Coingecko.

NAVI

NAVI is the first native one-stop liquidity protocol in the SUI ecosystem, similar to Aave on Ethereum, primarily providing lending services. It currently supports various assets including SUI, vSUI, NAVX, USDT, USDC, CETUS, and WETH. The annualized interest rate for stablecoin deposits offered by the platform is approximately 7%, while the deposit rate for SUI tokens is 4%.

NAVI is the project with the highest locked-in volume in the SUI ecosystem, having grown by 52% in the past month, with a total locked-in volume of up to $500 million. However, the performance of its native token $NAVI has not been as outstanding as its product. Although $NAVI has also increased by over 150% in 30 days during the rise of SUI, it still has a considerable gap from its historical high, which contrasts with the situation of SUI and Cetus nearing their historical highs.

The current trading price of $NAVI is approximately $0.15, with a historical high of $0.357, and a current market capitalization of $36.62 million.

Scallop

Scallop is another lending protocol within the SUI ecosystem. In March of this year, Scallop completed a $3 million strategic financing round, led by CMS Holdings and 6th Man Ventures, with other investors including Mysten Labs (the parent company of SUI), the aforementioned Cetus, and the well-known NFT investor dingaling. Additionally, the well-known Chinese KOL 0xSun also participated as an angel investor.

At the end of April, Scallop announced that it had received a strategic investment from DWF Labs. DWF Labs will become the main liquidity provider for Scallop on major centralized exchanges and will also support over-the-counter (OTC) business.

The native token of Scallop, $SCA, experienced a period of decline after its launch, but has recently shown signs of recovery, rising by 52% in the past month. However, this increase is still not as significant as that of SUI and other major ecosystem projects. Currently, the trading price of $SCA is approximately $0.376, with a historical high of $1.28 and a current market cap of $20.34 million.

Meme Coin of the SUI Ecosystem

( HIPPO

HIPPO is inspired by the Thai internet celebrity hippo "Bouncing Pig" MOODENG. This meme coin concept initially emerged in the Solana ecosystem, where the little hippo token on Sol reached a peak market cap of 330 million USD. Recently, the hippo token on Ethereum gained attention after donating tokens to Vitalik, which were subsequently burned, leading to a tenfold price increase in just four days.

HIPPO is the hippo token in the SUI ecosystem. Currently, its trading price is approximately $0.0148, with a historical high of $0.01848. The current market capitalization is $148 million, and the increase over the past seven days is 17%.

![Is the Solana killer narrative effective? Overview of popular SUI ecological projects])https://img-cdn.gateio.im/webp-social/moments-7941d95a7b8242e4aeaee9252258fdd6.webp###

( AAA

The image of AAA is a black cat, a concept derived from an emoji pack on the SUI Name Service. This is one of the few meme coins in the SUI ecosystem that does not have a marine life theme. Its community aims to benchmark against the well-known meme coin Popcat on Solana.

The current trading price of AAA is approximately $0.0019, with a historical high of $0.00253. Over the past seven days, the price of AAA has increased significantly by 293%, and the current market value is $19 million.

![Is the Solana Killer Narrative Working? A Look at Popular SUI Ecosystem Projects])https://img-cdn.gateio.im/webp-social/moments-576333234484b6200a54d7557b6167de.webp###

( BLUB

The image of BLUB is a fish with a Pepe face, which was once the most popular meme coin in the SUI ecosystem until the emergence of HIPPO surpassed it.

Interestingly, the token issuance time for BLUB was September 1, which is close to the time when SUI started to rise. From an initial market value of 3.5 million USD, BLUB once surged to 48 million USD, achieving an 11-fold increase.

The current trading price of BLUB is approximately $0.0)6###123, with a historical high of $0.0(6)161. Over the past seven days, the price of BLUB has decreased by 9.8%, and the current market capitalization is $40 million.