Sui (SUI). The native token of the L1 blockchain Sui rallied in response to news about Grayscale Sui Trust as financial company Grayscale Investments announced on August 7 the launch of cryptocurrency trust Grayscale Sui Trust. SUI’s capitalization approached $ 2.5 bln. In addition, the domain service of the SuiNS ecosystem announced its restructuring into a decentralized protocol. As part of the initiative, the project team plans to launch the NS token by year-end.
Helium (HNT). One of the key drivers was an announcement made on August 9 by Helium Inc., the company behind the Helium network. It reported that two major US operators began testing a new initiative to offload their mobile traffic to the decentralized Helium network. Over 300,000 subscribers of these operators are involved in this testing phase, which is a plus in terms of trust in Helium technology. But despite this positive trend, the Helium price is still 88% below its ATH of $55.2 seen in November 2021.
SATS (1000 SATS). The meme cryptocurrency has been on the move amid expectations of the start of trading on the American Coinbase. It will be available for futures transactions as of August 15.
Bittensor (TAO). The altcoin spiked higher after asset manager Grayscale launched the Bittensor Trust investment fund. It will invest exclusively in TAO.
dogwifhat (WIF). The dynamics of meme tokens are often not driven by market factors. Such assets are highly manipulative, so their value can shift abruptly and unpredictably by tens of percent in a short period of time.