As Bitcoin‘s price nears the $100,000 mark, altcoins are poised to take advantage of the surge. November and December promise to bring significant developments, with the latest news highlighting a strategic collaboration between Franklin and SUI Coin.
What Does the Partnership Entail?
Franklin Templeton, a prominent asset manager with a focus on cryptocurrency, has entered a pivotal partnership with SUI Coin to aid its ecosystem founders. This collaboration is part of Franklin’s continuous efforts since 2018 to integrate blockchain solutions into its operations.
How Will This Impact the SUI Ecosystem?
The partnership aims to bring innovative features, including a Deepbook that resembles centralized exchange order books, and advanced cross-chain functionalities into the SUI network. Such enhancements are anticipated to bolster the ecosystem’s efficiency and user experience.
The SUI Coin team highlighted the significance of this partnership, noting a growing trend among global investment firms toward blockchain technologies. Key insights include:
- Franklin’s involvement aligns with the earlier establishment of the Grayscale SUI Trust, which introduced multiple stablecoins.
- The Sui network has reported a staggering 675% increase in total locked value (TVL) since its mainnet launch in May 2023.
- DeFi volume on the Sui platform has surged by an impressive 956% during the same period.
With Franklin’s robust backing, SUI Coin is set to enhance its DeFi offerings and operational capabilities, potentially leading to further growth and innovation in the blockchain space.