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DeFi

Solana Rival Sui Defies Crypto Market Slump and Surges Amid New Partnership With Trump-Affiliated DeFi Protocol

By admin
0 60

Solana Rival Sui Defies Crypto Market Slump and Surges Amid New Partnership With Trump-Affiliated DeFi Protocol

The layer-1 blockchain Sui (SUI) is defying the broader crypto market downturn after inking a new deal with a decentralized finance (DeFi) protocol linked to US President Donald Trump.

The Solana (SOL) rival is witnessing price gains amid a new collaboration with World Liberty Financial (WLFI).

Says World Liberty Financial co-founder Zak Folkman in a statement,

“We chose Sui for its American-born innovation combined with impressive scale and adoption. It is a natural complement to our mission of bringing decentralized finance to more Americans. Given our plans to support foundational DeFi assets in the coming months, collaborating with Sui was an obvious decision.”

World Liberty Financial’s website states that Trump is not an officer, director, founder or employee of the firm or any of its affiliates but lists the president as its chief crypto advocate. The website also notes that DT Marks DEFI LLC, a company affiliated with Trump and some of his family members, holds 22.5 billion WLFI tokens and is entitled to receive fees from the project.

SUI is currently trading for $2.76, up by 5.18% over the past 24 hours. Leading altcoins hover in the red zone. The smart contract platform Ethereum (ETH) is down by 0.58%, while Solana and Cardano (ADA) plunged by 1% and 7.41%, respectively.

Generated Image: Midjourney

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