Sui’s native token, SUI, has experienced a dramatic surge of 72% in value this week, fueled by speculation about a potential collaboration with the beloved Pokémon franchise. This follows an update to the Pokémon HOME privacy policy that included a mention of Parasol Technologies, a company acquired by Mysten Labs – the team behind the Sui blockchain. ))
The official Sui Foundation blog addressed and then removed any mentions of Pokémon NFTs, further fueling excitement for potential partnerships.
Mysten Labs’ connection to the Sui blockchain through Parasol has fueled speculation about a possible alliance between the popular video game franchise and the cryptocurrency platform. This collaboration is being explored in several areas.
**The buzz surrounding this partnership stems from several key developments:**
– Parasol, recently acquired by Mysten Labs, is developing cloud infrastructure that leverages blockchain technology to address security concerns such as bugs, hacks, and impersonation. This could be utilized for transferring data between compatible games. ➡️
– **The Sui Foundation confirmed the progress of this project, including the development of blockchain-based trading card games.** Initially, there was a mention of potential Pokémon NFTs, which were quickly removed. But the speculation remains.
**The impact on SUI’s price:**
SUI has seen an explosive price surge, recently breaking through the $3.00 mark and showing signs of continued upward momentum. This spike in value is attributed to a confluence of factors: hype, confidence in the technology, and anticipation for future developments.
**Increased Trading Volume:** The recent price increase has resulted in a significant increase in trading volume, exceeding $128 million as investors (aka whales) are actively buying SUI. ➡️
**Market Cap:** SUI’s market cap has surged to nearly $9.9 billion, representing approximately 90% of the entire Sui network. This dramatic rise is fueled by a combination of hype, genuine belief in the technology, and anticipation for upcoming developments.
**Next Steps:** The crypto community eagerly awaits official confirmation or denial regarding any potential collaboration between Pokémon and Sui. However, given the recent developments and escalating speculation, the SUI token’s price trajectory remains intriguing.