crypto-economy.com
TL;DR
- BitGo expands its support for the Sui ecosystem with custodial services for Sui Naming Service (NS) and DeepBook (DEEP).
- Sui Naming Service facilitates the creation of more user-friendly onchain identities and DeepBook is a decentralized trading platform.
- The current price of Sui (SUI) is $2.06, with a change of 4.94% in the past 24 hours, according to CoinMarketCap.
BitGo has announced a further expansion of its services for the Sui ecosystem, adding custody support for two major assets: Sui Naming Service (NS) and DeepBook (DEEP).
This move reinforces BitGo’s commitment to providing institutional-grade custody solutions for evolving blockchain networks.
Currently, according to data from CoinMarketCap, the price of Sui (SUI) is $2.06, with a negative variation of -4.94% in the last 24 hours.
Sui is ranked #18 in the cryptocurrency ranking, with a market volume of $274,000.
Since BitGo became the first qualified custodian to offer custody and staking services for the SUI token in 2023, it has maintained a close relationship with the development of the Sui ecosystem.
This new integration of NS and DEEP assets underscores their commitment to expanding the options available to institutions looking to further engage in the Web3 and decentralized platforms space.
Sui Naming Service (NS) is a platform that allows users to create more intuitive and memorable onchain identities.
With this functionality, addresses on the Sui network are transformed into more human and memorable identifications, facilitating the interaction of users and institutions in the digital environment.
Furthermore, the NS token allows participants to get involved in the project’s decision-making, contributing to the governance and future development of the platform.
DeepBook Innovations and Their Impact on the Sui Ecosystem
DeepBook, for its part, offers an innovative solution to the problem of on-chain trading.
It uses the Sui network infrastructure to create a decentralized order book that operates with remarkable efficiency thanks to parallel execution and low transaction fees.
The platform enables order routing, matching, and settlement in a fully decentralized manner, maximizing flexibility and programmability for users and developers.
BitGo’s support for these assets not only ensures greater security and accessibility for institutions, but also drives adoption of the Sui ecosystem as a whole.
As more tokens and projects join the network, BitGo continues to position itself as a strategic partner in the growth and strengthening of decentralized finance (DeFi) and blockchain applications.
Sui’s constant evolution and focus on innovative technological solutions are opening up new opportunities in the cryptocurrency market.
The integration of Sui Naming Service and DeepBook within the BitGo framework aims to consolidate a robust infrastructure for developers and users looking to take full advantage of the capabilities of this emerging network.