
Suisui#26
By Twin · CoinHours Editorial · Coin profile maintained by CoinHours Editorial · Market data refreshes every 60s
$0.9037
7d Change
-0.74%
30d Change
-23.21%
24h High
$0.9094
24h Low
$0.8934
Price Chart
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About Sui
Sui is a layer-1 blockchain developed by Mysten Labs, founded by former Meta engineers who worked on the Diem project. The platform uses the Move programming language and an object-centric data model designed to enable parallel transaction execution and horizontal scaling. Launched in 2023, Sui competes in the high-performance blockchain sector, emphasizing low latency and high throughput for gaming, DeFi, and consumer applications.
Primary use case: High-performance layer-1 blockchain using Move language and parallel execution for scalable applications.
CoinHours Analysis
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Understanding Sui Price Data
The Sui price shown above is a volume-weighted average across major spot exchanges, sourced from CoinGecko and refreshed continuously throughout the trading day. Cryptocurrency markets trade twenty-four hours a day, seven days a week — there is no opening or closing bell — so the 24-hour change figure is a rolling window measured against the price exactly one day prior, not against a fixed daily close. The 7-day and 30-day percentage moves use the same rolling-window methodology, which means the figures shift continuously rather than resetting at midnight.
Market capitalisation for Sui is calculated by multiplying the current price by the circulating supply — the number of SUI units currently in public hands and not locked, burned, or reserved by the protocol. This differs from total supply (all units that have ever been created) and max supply (the protocol-defined cap, where one exists). For assets with significant locked or vesting allocations, fully diluted valuation can be a more useful long-term measure than market cap alone. The 24-hour trading volume figure aggregates spot trading across reporting exchanges and excludes derivatives and over-the-counter activity, which can be substantially larger for major assets.
All-time high (ATH) figures reflect the peak USD price ever recorded for Sui on a major exchange. The ATH change percentage shows how far the current price sits below — or above — that peak, and is one of several inputs the CoinHours Market Cycle Indicator uses when assessing where the broader market sits in its four-year halving cycle. For longer-term investors, ATH drawdown combined with 200-week moving average position and the Fear & Greed Index gives a clearer cycle picture than any single metric in isolation.
Sui for Australian Investors
In Australia, the Australian Taxation Office (ATO) treats Sui and other cryptocurrencies as capital gains tax (CGT) assets rather than as currency. Every disposal — selling for AUD, swapping for another crypto, spending on goods or services, or gifting — is a CGT event that must be reported in your tax return. Holding SUI for more than twelve months before disposing of it qualifies you for the 50% individual CGT discount, which is one of the most significant tax planning levers for long-term holders. See the crypto tax encyclopedia entry for a full breakdown of ATO record-keeping requirements, cost-base calculation methods, and the tax treatment of staking rewards, airdrops, and DeFi income.
Australian investors typically buy Sui through a registered exchange that complies with AUSTRAC anti-money-laundering requirements. Once acquired, holdings can be left on the exchange (counterparty risk), moved to a software wallet (convenience with online attack surface), or transferred to a hardware wallet for cold-storage self-custody (highest security, least convenient). The CoinHours security guide walks through the trade-offs in detail, including seed-phrase storage, multi-signature setups, and inheritance planning. For background on the underlying technology, the Crypto Encyclopedia covers blockchain fundamentals, consensus mechanisms, and the Sui protocol in plain English.
Sui FAQ
What makes Sui different from other blockchains?
Sui uses an object-centric data model with the Move programming language to enable parallel transaction processing. Unlike traditional blockchains that process transactions sequentially, Sui can handle multiple non-conflicting transactions simultaneously, potentially improving network throughput and reducing confirmation times.
Who created Sui and when did it launch?
Sui was developed by Mysten Labs, founded by former Meta engineers who worked on the Diem project. The blockchain's mainnet launched in May 2023. The development team includes Evan Cheng, Adeniyi Abiodun, Sam Blackshear, and George Danezis.
How are SUI tokens taxed in Australia?
The ATO treats SUI token transactions as taxable events for capital gains tax purposes. Australian investors must keep records of all transactions including dates, amounts, and AUD values. Buying, selling, or trading SUI may trigger tax obligations that need to be reported in annual tax returns.
What applications run on the Sui blockchain?
Sui supports various applications including decentralised exchanges, gaming platforms, NFT marketplaces, and DeFi protocols. The platform particularly focuses on gaming applications due to its ability to handle high transaction volumes. It natively supports both fungible and non-fungible tokens.
What are the main risks of investing in SUI?
Key risks include Sui being a new platform with limited operational history, potential technical vulnerabilities, intense competition from established blockchains like Solana and Avalanche, regulatory uncertainty, and general cryptocurrency market volatility that can cause significant price fluctuations.
Frequently Asked Questions
How often is the Sui price updated?
CoinHours pulls live SUI pricing from CoinGecko, which aggregates trades across major exchanges. The page refreshes the displayed figures every few minutes; the underlying market data updates continuously and may move significantly between refreshes during volatile sessions.
Why does the Sui price differ between exchanges?
Each exchange runs its own order book, so prices drift slightly based on local supply and demand, regional liquidity, and pair availability. The figure shown here is a weighted average designed to represent the broad market price rather than any single venue. Arbitrage typically keeps the differences small for major assets but can widen during fast moves or on smaller exchanges.
Is buying Sui legal in Australia?
Yes. Cryptocurrency is legal to buy, hold, and trade in Australia. Exchanges operating in Australia must register with AUSTRAC and comply with anti-money-laundering and counter-terrorism financing rules. The ATO treats crypto as property for tax purposes — see the Australian investors section above for tax implications.
What is market cap and why does it matter?
Market capitalisation equals current price multiplied by circulating supply and gives a rough measure of an asset's total value in public hands. It is a more meaningful comparison metric than price alone because two coins with identical prices can have radically different supplies. Market cap rank is one input investors use when assessing relative size, but it does not account for locked tokens, future emissions, or actual on-chain liquidity.
Should I store Sui on an exchange or in a wallet?
Exchange custody is convenient but exposes you to counterparty risk — exchange failures and hacks have wiped out customer balances historically. For amounts material to your finances, a hardware wallet under your own control is the standard recommendation. Read the security guide for a full comparison of custody options and seed-phrase best practices.
Information on this page is general in nature and does not constitute financial, investment, or tax advice. Cryptocurrency prices are volatile and you can lose your entire investment. Consult a qualified Australian financial adviser and registered tax agent before making investment decisions.