Sui Token Explodes 30% After Coinbase Listing In New York – SUI Wallet Options
It’s been a strong start to December so far with many altcoins in the green, such as Chainlink, Pengu and Cardano all registering double digit gains. However, the coin with the highest price rise in the past 24 hours on Coinmarketcap is Sui, which has exploded over 30% at the time of writing.
Why Did The Sui Price Explode?
Coinbase announced on December 1 that Sui would now be available for purchase by New York residents. This news created some significant tailwinds for SUI as New York has some of the strictest regulation in the United States, as well as some of the wealthiest investors.
The price explosion even came after a token unlock equivalent to $86.86 million worth of Sui tokens. Usually token unlocks create a price decrease given that the number of tokens in circulation increases, however the fact that the price exploded 30% shows how pivotal the Coinbase listing in New York has been.
On top of this, Sui is a well-known stand-alone layer 1 blockchain, with staking and an established presence. This also tends to attract stronger interest from investors in a new Coinbase listing compared to lesser known, newer coins.
Sui Announced Two Stablecoins
In October, Sui announced that it would be launching two stablecoins by the end of 2025, one of which would allow staking.
Following the announcement, Sui recorded $2.4 billion in stablecoin inflows in just 24 hours on November 24. This was a clear sign that interest in Sui was growing.
You can also stake Sui directly using a Sui wallet, the staking APY is around 3% APY, this would give another incentive to buy and hold the Sui token.
Sui Wallet Options
After the price explosion, many new buyers in New York and beyond will continue to leave their Sui tokens idle on a centralized exchange like Coinbase. Although convenient, history has shown that this can carry some risk.
Exchanges carry out ongoing KYC checks, what’s more exchanges control your private keys meaning you do not have true ownership of your assets. That’s why most investors choose self-custody, particularly for larger amounts.
Self-custody wallets allow you to control your crypto directly, without relying on an exchange. One popular, easy-to-use option is Best Wallet, a self-custody wallet with a comprehensive suite of trading tools for navigating the volatile market.
There are many reasons why Best Wallet stands out as the best self-custody wallet for storing high-potential assets like Sui. First is that it is a fully optimized mobile wallet, meaning users can access it anytime, anywhere, even while on a bus to work. This alone ensures that they never miss out on valuable opportunities as they arise.
Second, it doesn’t require KYC. Hence, users can create their wallet accounts and explore all its features without filling lengthy forms or undergoing identity verification. That approach not only ensures full user anonymity but also adds a layer of convenience for investors eager to enter the trading space quickly.
On top of that, Best Wallet offers more than just the basic wallet functionalities. In addition to being a self-custodial storage solution, it also acts as a decentralized exchange, allowing users to buy, send, receive, and swap cryptos on supported blockchains in a single unified environment.
Right now, it supports several major blockchains, including Bitcoin, Ethereum, Base, Polygon, Binance Smart Chain, and even Solana. As the wallet expands, additional blockchains will be integrated, strategically positioning it as an all-in-one hub for crypto trading.
The next key selling point lies in its “Upcoming Tokens” feature, which is primarily designed to curate promising early-launches that investors can consider for significant returns.
Add all of that to its self-custodial model, and it’s easy to see why it is often ranked among the best crypto wallets to navigate the volatile market with full confidence.
Download Best Wallet
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