Sui Network is on a bullish rampage today, having surged 23% in the past week in response to the Mysticeti test upgrade.
The Sui Network’s overall bullish price trend has been extended following the announcement of a substantial upgrade that went live on its testnet.
Implementing the Mysticeti enhancement on the mainnet, Sui Network announced on the X platform.
Sui Network Plots Upgrade To Become Fastest Blockchain
The performance of the Sui Network blockchain protocol is renowned.
Despite its acknowledged speed, the network has persistently strived for increased transactions per second (TPS).
Sui Network announced that since the testnet launch of Mysticeti, it is the quickest blockchain in existence.
The protocol has successfully decreased the Sui consensus latency to 390 milliseconds.
According to the Layer-1 network, this reduction represents an enormous 80% decrease from Narwhal-Bullshark.
There is urgent competition in the blockchain community to solve the trilemma of decentralization, transaction speed, and low cost.
Significant network enhancements have been recently required due to the general congestion on Ethereum, the preeminent Decentralized Finance (DeFi) hub.
Sui resolves most Ethereum’s issues, and the Mysticeti revision has expanded upon this.
Emphasizing the update’s implications for its ecosystem, the blockchain stated that the standard user now enjoys enhanced transaction experiences in all areas.
The company announced that users can now conduct transactions in all applications with lightning-fast speeds.
Of particular interest are its gaming and DeFi ecosystem, which can now enjoy throughput and low fees.
Utilizing a published research paper, the development and introduction of the Sui Mysticeti enhancement adopted an academic stance.
The ultimate benefactors of the lower latency upgrade are validators and developers, as well as the average user.
SUI Price Outlook
The Sui Price has experienced a significant surge after introducing the testnet for Mysticeti.
As of the time of writing, Sui was trading at $1.14, representing a twenty-four-hour increase of 1.43%.
Active volatility that may assist in bridging additional gaps in the anticipated price movement of SUI has propelled the price to 26.69% over the past week in response to this comparatively moderate increase.
In recent weeks, Sui has been in the public eye due to its announcement that it has surpassed one million daily active wallets.
The Sui Mysticeti upgrade has the potential to increase the overall user base of the network, which could result in a positive long-term price increase.
