Sui Crypto Network Announces Gasless Stablecoin Transfers On Its Mainnet

Key Insights

• Sui network scraps gas fees for at least 7 stablecoins on its mainnet.
• Sui ranks second after Hyperliquid in terms of social and market activity.
• SUI chain performance recap. RWAs are still the fastest growing segment for the network.
• Token volume on Sui crosses $800 billion milestone.

Sui Network announced zero gas fees for several stablecoins on its mainnet, marking one of its biggest ecosystem updates this year.

The move arrived as competition among layer-1 blockchains intensified, with networks such as Ethereum and Hyperledger attracting the most recent market attention.

Sui Removes Stablecoin Gas Fees

The Sui team confirmed that at least seven stablecoins within its ecosystem would no longer require gas fees for transactions.

Supported assets reportedly include USDC, USDB, FDUSD, and USDSUI.

Sui’s decision to slash gas fees may be a move aimed at boosting network activity. Zero gas fees may attract more transactions within the network.

According to the official announcement, the move was also aimed at attracting institutional users, boosting development, and attracting AI-native applications.

SUI Crypto Network Ranks 2nd In Terms Of Market and Social Activity

LunarCrush sentiment analysis revealed that Sui secured the second spot in the list of top coins ranked by social and market activity. It was only outranked by Hyperliquid.

Sui crypto network reportedly jumped by 190 spots during the week to secure the position. The elimination of gas fees for some stablecoins may have contributed significantly to that outcome.

According to the analysis, this aggressive spike in social sentiment signaled that the network was experiencing attention build-up. This was worth noting because such observations often occur right before a major price move.

SUI crypto price had a progressively bullish first 10 days of the month. However, the cryptocurrency has so far retreated substantially since then, and has almost lost its position above $1.

SUI price USD hovered at the $1.08 price tag at the time of writing. The cryptocurrency’s latest performance looks quite similar to its performance between July and September 2024. This was right before it embarked on a major bullish rally in the months after.

The fact that Sui network is currently experiencing elevated social activity supports an optimistic outlook. This could be backed by aggressive network activity now that gasless stablecoin transactions have been introduced.

Sui Crypto Network Celebrates New Milestone

Sui’s social activity also warrants an assessment of the network activity. The network is reportedly celebrating a new milestone after its total token volume crossed $810 billion.

The data also showed that Sui had the second fastest growing token volume after Avalanche. While some of these metrics highlight positive growth, the network has also faced some downsides.

For example, the Sui network now has fewer than 900 monthly active addresses. For context, the network had more than 25 million monthly active users exactly 12 months ago.

The decline reflected broader market weakness that reduced speculative activity across several blockchain ecosystems.

Even so, Sui has continued introducing incentives aimed at restoring network participation. The removal of stablecoin gas fees now represents part of that broader effort to increase activity across the ecosystem.

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