While Suiet launched a new feature facilitating the use of hardware wallets on Sui, the network's token has grown significantly. Now, the asset is very close to its all-time high.
Suiet makes it easier to use hardware wallets on Sui
On Friday, the Suiet teams, a self-hosted wallet specializing in the SUI ecosystem, presented their latest functionality allowing simplify the connection of a hardware wallet to their application. If this was previously possible manually, the company reports recurring errors which now seem to be over:
Using hardware wallets on Sui has never been easier. Click and import, setup in just a few seconds. pic.twitter.com/NUypIFd2Xa
— Suiet | Sui Wallet (@suiet_wallet) October 10, 2024
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For now, 3 brands are compatible with this new feature, namely Ledger, Keystone and OneKeyhowever, Suiet calls on his community to favor the last 2 to the detriment of the first:
Suiet is compatible with three major hardware wallets: Ledger, OneKey, and Keystone. However, due to Ledger's incomplete Sui support and suboptimal user experience, we recommend using OneKey or Keystone with Suiet for the best results.
In reality, this recommendation is based on the fact that it is necessary to enable blind signatures on Ledger in the SUI application in order to conclude transactions, which adds an extra step for the user. Note, however, that this option can easily be found in the SUI settings of a hardware wallet from the famous French brand.
Ledger: the best solution to protect your cryptocurrencies 🔒
A token on the rise
In the wake of this announcement, the price of the SUI token reacted favorablyt, with an increase of almost 12% in 24 hours on Friday.
That said, the correlation between these two realities could also be nuanced, because the asset is showing a strong upward trend after a significant low point on August 5. Since then, the SUI has increased by more than 361%, reaching $2.14 per unit at the time of writing:
SUI token price
Now, the asset is barely 4 cents from surpassing its all-time high (ATH) of March 26.
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On the side of decentralized finance (DeFi), Sui records just over $1.06 billion in total value locked (TVL). At the same time, the network has a total of 23.09 million addresses considered active.
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Source: Suiet
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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