Coinbase has announced that it will be adding support for Sui (SUI) on the SUI network. Transfers for Sui are exclusively available on Coinbase and Coinbase Pro in regions where trading is supported.
The trading of SUI tokens on Coinbase and Coinbase Pro is scheduled to begin tomorrow, May 18th, at 16:00 UTC, provided that liquidity conditions are met. This launch will enable Coinbase users to buy, sell, and trade SUI tokens directly on the platform. As liquidity improves and a sufficient supply of SUI is established, Coinbase plans to introduce SUI-USD trading pairs in phases.
Coinbase will add support for Sui (SUI) on the SUI network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️ (@CoinbaseAssets) May 17, 2023
Sui is a layer 1 blockchain that has been specifically optimized for low-latency transfers. By leveraging its technology, Sui aims to provide users with fast and efficient transactions. The addition of SUI to Coinbase’s platform offers users another investment opportunity within the rapidly expanding cryptocurrency market.
Prior to its listing on Coinbase, Sui was already available on various other exchanges, including Binance, KuCoin, Huobi, MEXC, Gate, Bybit, Bitget, and OKX. The listing on Coinbase and Coinbase Pro further enhances SUI’s visibility and accessibility to a broader range of traders and investors.
At the time of writing, the current price of SUI stands at $1.21, representing a 4% increase in the last 24 hours. The market capitalization of SUI is approximately $640 million, indicating its significance within the cryptocurrency landscape.
It’s worth noting that support for SUI may be restricted in certain supported jurisdictions due to regulatory considerations. Coinbase advises users to familiarize themselves with the trading regulations and restrictions specific to their region before engaging in SUI trading.
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