JAKARTA - Upbit, South Korea's largest crypto exchange, announced on May 3 that it would add SUI tokens from the Sui network to a trading list on their platform. Upbit will trade SUI with Korean won currency (KRW) and Bitcoin (BTC) pairs.
Meanwhile, the official launch of Sui mainnet, a Layer 1 DPoS-based blockchain, is scheduled to be on the same date at 12 p.m. UTC. Mysten Labs, a team behind the development of Sui, announced the launch schedule.
SUI has become a byword in the crypto industry, so many large exchanges such as Binance, Coinbase, OKX, Huobi, and others add these tokens to their trading list. This cryptocurrency has a supply of 10 billion SUI, with an initial supply of 528,273,717 SUI, which is equivalent to 5.28 percent of the total supply.
SUI's general selling price is 0.10 US dollars (equivalent to Rp1,400), while SUI (IOU) is currently trading at 3.05 US dollars (Rp44,792), up 55 percent in the last 24 hours. With a large amount of interest in Aptos (APT) and Arbitrum (ARB), SUI is projected to experience similar demand.
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However, a number of feuds also occurred among the founders of this project. Binance CEO Changpeng Zhao or CZ, barring Tron founder Justin Sun from participating in the SUI farming at Binance Launchpool.
CZ insists that this platform is only for retail customers, not for Sun or paus. Sun then apologized and returned the funds because several of his team members had participated in the exchange campaign on the stock exchange.
Sui Network promises an asset-focused programming model, potentially becoming a protocol that can quickly and efficiently process transactions. With this Upbit announcement, SUI will be one of the crypto tokens sold on the South Korean market.
Additional information, SUI is a native token of the Sui network that uses Proof of Stake (DPoS)-based blockchain technology. This token has a total supply of 10 billion SUI, with about 5.28 percent of which will be distributed through public sales, public access programs, application tests, community reserves, and others.
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