The cryptocurrency market is experiencing a pause after a period of growth, with profit-taking leading to significant liquidations. Despite the downturn, altcoins, including SUI Coin, strive to stand out positively. A recent announcement from MystenLabs highlighted the next phase of their partnership with Alibaba, aimed at supporting both current and new Move developers on the Sui platform.
The collaboration between MystenLabs and Alibaba will introduce various services, including an AI-powered development environment, educational programs at universities, community events, and translations of Move documentation into Mandarin and Korean. An AI tool is being developed to write Move code based on natural language queries from developers, leveraging Alibaba Cloud infrastructure and technical support.
This initiative is expected to accelerate the work of experienced developers and assist new Move developers in learning the language and exploring its possibilities. Alibaba Cloud will also support promising projects within the Sui Network ecosystem by providing cloud infrastructure and hosting demo day events in strategic locations like Hong Kong, Singapore, and Dubai.
Furthermore, global Alibaba Cloud hackathons will encourage developers to learn and develop new Sui projects. Alibaba Cloud will also support the Sui infrastructure by providing full node services, contributing to the network’s security.
Despite the general market downturn, SUI Coin, bolstered by the Alibaba partnership, finds buyers at $1.14 and shows a near 6% gain. While a recent spike to $1.17 was short-lived, the coin continues to defend the psychological $1 support level, with the latest news potentially aiding in maintaining this support.