What would happen if the people who developed some of your favourite tech decided to get into blockchain and crypto technology? It might look and feel a lot like Sui. In this article we’re looking at what Sui is, how it works and why people use it.
Launched in May 2023, Sui is a next-generation Layer-1 blockchain that uses parallel transactions to increase speed and scalability while reducing transaction costs. The Sui blockchain has its own native coin, also called Sui (SUI), which participants use to pay transaction fees and other types of network participation.
Sui was developed by Mysten Labs Inc. Its founding C-suite includes former Apple, Facebook/Meta and Oracle employees. One overarching characteristic of Sui is its user, consumer and developer-friendliness.
Important technical characteristics include:
Sui supports a multitude of decentralised apps (dApps), particularly those relating to decentralised finance (DeFi), non-fungible tokens (NFTs) and gaming. The ecosystem boasts low-friction onboarding, with the aim of increasing accessibility. Sui uses well-known web applications like Gmail for account creation, theoretically making it easier for less experienced users to participate.
Many see it as a scalable blockchain ecosystem with impressive growth potential. The SUI coin is a method of capturing the value of that ecosystem as it grows. However, crypto assets are highly volatile and you may lose some or all of the value of your investment.
Participants acquire digital tokens for a variety of reasons that align with their personal risk tolerance, circumstances and technical objectives. As with all digital assets, market values can fluctuate upward or downward rapidly. Within the crypto landscape, these market shifts can occur much faster than fluctuations observed in legacy financial environments. Therefore, never allocate more capital than you are comfortable exposing to total loss.
You might think of Sui as a cryptocurrency, or you might think of it as technology. The SUI coin is part of the ecosystem. Some participants acquire the token to anticipate its future network utility and market value.Many look at the SUI token as a long-term digital hold.
Other users evaluate Sui primarily as an infrastructure layer and accumulate tokens based on its ecosystem utility. The Sui ecosystem has potential to support a range of utilities, including gaming and non-fungible tokens. Ecosystem participants often view these sectors as rapid expansion environments.
One feature utility-focused users analyse closely is Sui’s rapid throughput capabilities. The term ‘throughput’ generally refers to the number of transactions a blockchain can complete. Sui is seen as particularly fast and with potential to increase speeds further. This is in part due to Sui’s object-centric model, which enables it to process transactions in parallel, rather than in sequence.
Sui’s tech is well regarded, partly due to the prestigious backgrounds of its founders. It’s got an active developer base, expanding ecosystem and is seen as one of the few blockchains that can scale without speed or usability trade-offs.
Institutional participants are increasingly exploring Sui due to its architecture for digital ownership verification, tokenisation frameworks and decentralised applications.
Buying Sui in Australia is straightforward. Follow these steps to start your SUI journey:
To buy Sui, you’ll need a trusted platform. Look for ease of use, strong security, transparent fees and features like staking or recurring purchases.
You can:
Sign up with a secure password and enable two-factor authentication (2FA). Complete identity verification (KYC) by submitting a government-issued ID, which is a standard process to ensure compliance and account protection.
Before buying SUI, deposit funds into your account:
Once your account is funded:
After buying SUI, you can choose between different wallets:
Learn more about opening a crypto trading account
You can buy SUI crypto using a crypto app like the Crypto.com App or a platform like Crypto.com. More experienced crypto users may elect for a decentralised exchange. The advantage here is that some users prefer to retain full custody of their assets.
Decentralised exchanges require some fundamental blockchain experience, but allow users to retain custody. Centralised exchanges take custody of assets and offer more intuitive interfaces and a more consumer-friendly experience.
SUI is available in the vast majority of jurisdictions, as of October 2025.
All crypto coins and ecosystems have their relative strengths and weaknesses. It comes down to examining design trade-offs and finding the right asset allocations to match your unique risk profile, technical interests and financial circumstances.
Some experts are optimistic about the future of Sui, but there’s no safe bet when it comes to buying. Let’s take a quick look at the operational strengths and structural risks of holding Sui.
Strengths
Weaknesses
At the time of writing this article, Sui has:
Despite having relatively high liquidity, Sui has seen price surges in the past. Its price is partly contingent on utility demand, for example from developers SUI to pay transaction fees. Like many forms of crypto, SUI is subject to price volatility. Like many forms of crypto, SUI is highly volatile and you may lose some or all of the value of your investment.
Sui’s price is influenced by a number of factors, including:
On the technical side, there’s optimism that Sui can fulfil its promise as a breakout next-generation Layer-1 blockchain solution, supporting innovation in a wide array of contexts, from finance to gaming.
Analysts at CoinMarketCap believe that Sui can redefine decentralised finance. TradingView believes that the regulatory outlook for crypto could influence Sui’s longer-term value. Phemex believes Sui has the potential to become a major player in the near future due to its technical advantages.
It’s a next-generation Layer-1 blockchain technology designed to facilitate fast transactions, lower transaction fees and general adoption. Sui is well positioned to support applications in decentralised finance, gaming and NFTs.
Sui is owned by Mysten Labs, a tech firm that includes former Meta employees; Evan Cheng, CEO; Sam Blackshear, CTO; Adeniyi Abiodun, chief product officer; George Danezis; chief scientist and Kostas Chalkias, chief cryptographer.
Sui is overseen by the Sui Foundation, which is a separate entity to Mystem Labs Inc. Its board of directors are the five Mysten Labs founders. Its goal is to achieve broad adoption of the Sui blockchain.
Whether or not Sui is a good purchase depends on your risk tolerance, financial circumstances and goals. Like all digital utility tokens, Sui can experience sharp market shifts, and platform users risk losing capital. While Sui is well positioned and some analysts are optimistic about its future, it’s always essential to do your own research.
The Sui Foundation is registered in the Cayman Islands, while Mysten Labs is registered in Palo Alto, California.
Yes, Australian residents can buy Sui using centralised or decentralised exchanges. Sui is also available to buy from outside of Australia.
* Other transaction fees and spread may apply
Important information: This content is general informational material sponsored by Foris DAX Pty Ltd (trading as Crypto.com) and is intended strictly for educational purposes. It does not constitute financial product advice, an investment recommendation, or a solicitation to trade. Digital assets are highly volatile, completely unregulated as financial products in Australia, and involve a high risk of capital loss; you may lose some or all of your initial principal. Digital asset accounts are not traditional banking products and are explicitly not protected by the Australian Government’s Financial Claims Scheme (FCS). Consider your personal risk appetite and seek independent financial advice before participating.
