SUI Surges After Sui Kiosk Launch, Empowering Creators with Decentralized Control over Digital Assets; Maple Finance Secures $5 Million in Funding for Expansion and New Lending Arm
Daily Top Performer — Sui Network (SUI)
The SPX index is down 0.28%, Nvidia's reversal from an early gain to a fall of more than 2% impacted tech stocks, and regional bank stocks were under pressure after S&P Global Ratings and Moody's cut ratings on some banks. The broader cryptocurrency market is down, with Bitcoin and Ether dropping 1.03% and 2.51% respectively, in the past 24 hours.
Today’s outperformer is SUI, which surged 10.46% in the past 24 hours following the recent launch of its new feature, Sui Kiosk.
Sui Network (SUI), launched in May 2023, Sui is a Layer 1 blockchain created by Mysten Labs to reduce latency and enhance speed and security in web3. Sui Kiosk, a recently launched feature on the Sui blockchain, enables creators to manage and sell digital assets like NFTs, allowing them to define transfer policies and pricing rules. It provides strong royalty enforcement and is adaptable to various trading scenarios like auctions, and empower creators in the decentralized environment.
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Talk of the Town:
Crypto lending platform Maple Finance has raised $5 million in a funding round led by Tioga Capital and Blocktower Capital, with participation from GSR Ventures, Cherry Ventures, Veris Ventures, and The Spartan Group. The new capital will be used to expand Maple's services globally, with a particular focus on the Asia-Pacific region, and to build out its newly launched lending arm, Maple Direct. Maple Direct offers overcollateralized loans secured by Bitcoin, Ethereum, and staked Ethereum. Unlike some competitors, the borrowed collateral won't be rehypothecated but will be held with a licensed custodian. The company sees significant potential for growth in markets like Singapore and Hong Kong due to their pro-crypto regulations.
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