Sui Surges 11% as Alibaba Cloud Amplifies Support for the Network
Sui price surged almost 11% on Wednesday while maintaining a 24-hour range between $1.12 and $1.31. Sui token has increased by almost 60% in the last two weeks, based on CoinGecko analysis. The price rise on Wednesday also comes on the sidelines of Alibaba Cloud expanding its partnership with Mysten Labs, to support developers on the Sui network.
As per the statement, the collaboration introduces a suite of services and tools for the growth of the ecosystem.
The expanded offerings from Alibaba Cloud include the integration of their cloud services into Scale3 Labs’ Autopilot platform.
This integration also enables developers to deploy Sui full nodes with a single click, a significant step in simplifying blockchain technology access. Furthermore, Alibaba Cloud will offer comprehensive observability tools for blockchain nodes and validators, providing essential features like alerting, monitoring, and AI-enabled logging.
Meanwhile, Mysten Labs and ChainIDE are reportedly developing an AI-assisted tool for ChainIDE, a blockchain-focused development environment.
Sui network to bridge gaps
Mysten Labs’ collaboration with Alibaba Cloud extends beyond development tools. The partnership will support incubator projects and host hackathons in key strategic locations like Hong Kong, Singapore, and Dubai, focusing on growing the Sui network’s ecosystem.
This also aims to facilitate smoother transactions and user onboarding for builders on Alibaba Cloud.
Last year, Alibaba Cloud began tailoring services to Sui builders, focusing on secure infrastructure and archival node services.
Alibaba Cloud’s new services, including AI-enabled development environments and the translation of Move documentation into Asian languages, are set to bridge this gap of a limited pool of developers.
Alibaba Cloud’s comprehensive support for the Sui builder community extends beyond Web3 technology, blending the advantages of blockchain with user-friendly online tools. This collaboration could enhance the utility and engagement of the Sui network, offering support to developers.
Also Read: Sui Price Skyrockets As TVL Triumphs Over Bitcoin
- Nasdaq-Listed AlphaTON Kicks Off Treasury Strategy, Buys $30M in Toncoin After $71M Raise
- XPL Token Soars 52% as Plasma Mainnet Launch Ignites Trading Frenzy
- ETH Treasury Firm SharpLink to Tokenize SBET Stock on Ethereum
- First Ethereum Staking ETF Begins Trading, Boosting ETH Demand
- Ethereum in a Bear Market, Peter Schiff Warns as ETH Slides Below $4K
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
- Bitcoin Price: Analyst Predicts Crash to $104K Before Explosive Rally on Fed Cut Pattern
- HBAR Price Elliot Wave Signals an 86% Rebound as Key Risks Remain
- Will Pi Coin Price Recover Before Month-End After Payochain Listing?
- Chainlink Price Prediction as Whales Buy 800K LINK — Can the Demand Zone Launch a Recovery?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
