Grayscale Show Out Sui Trusts for DEEP & WAL Amid TVL Sharpening
Grayscale don launch two single-asset Sui trust products wey relate to DeepBook (DEEP) and Walrus (WAL), marking their second Sui offering inside one year. Qualified investors fit now get direct exposure to native DEEP and WAL tokens through the new Grayscale Sui trusts. DeepBook, wey na on-chain order book, don handle over $10 billion trading volume, while Walrus, wey be programmable data storage platform, raise $140 million for March 2023. This move come as Sui’s DeFi activity dey surge, with total value locked (TVL) reach record $2.3 billion on July 28. The momentum still strong because Mill City Ventures’ Sui vault raise $441 million on July 28 and add another $500 million on August 1. Industry people talk say these institutional-grade cars dey enlarge access to Sui ecosystem tokens beyond exchanges, fit boost demand, liquidity and confirm the blockchain’s high-throughput design.
Bullish
Di laun wey dem waka land this Grayscale Sui trust dem for DEEP and WAL, e give accredited investors regulated and easy chance to sabi and handle native Sui tokens well, e help increase institutional money wey dey enter market pass the decentralized exchanges. For history, when institutional-grade vehicles dem start, e dey boost token liquidity and market depth, wey fit push price go up. For short time, as new money enter through trust dem fit cause beta demand, and for long run, better credibility and liquidity fit help sustain growth and wide adoption for Sui ecosystem. So, this news good for DEEP and WAL.