Recently, the meme hype on the SUI blockchain took a new dive as many new meme coins launched, amassing over 500% in price increase and even more.
While the meme frenzy on sui blockchain grows, there are still some difficulties as to how well to navigate the syi blockchain ecosystem. We will be looking at how to use sui wallets, how to use sui blockchain to buy sui memes, and how to bridge tokens to the sui blockchain network.
The gas token of the SUI blockchain is paid in SUI, but practically, it’s a fraction of SUI, which is called MIST. Sui blockchain is starting to get more investor attention, and the developers’ activity on Sui blockchain is also growing as can be seen with the increasing launch of dapps on Sui.
How to Get Started on Sui Blockchain
To get started on the Sui blockchain, the user will need to have a Sui token deposited into a Sui wallet on the Sui network. There are many ways to get a Sui token deposited into the Sui wallet. These two ways include:
- Withdraw from exchange and deposit on Sui wallet
- Bridge and Swap USDC from either Ethereum blockchain or Solana to Sui on Sui blockchain.
When you have successfully bridged and swapped to SUI token or used the centralized exchanges like Binance to buy SUI and deposit to your Sui Wallet, then you can get set to start your meme coin trading on Sui blockchain.
Read Also: How to Guide on Top Meme Coin Fair Launch Platforms
Note: It’s best to buy SUI in Binance and deposit it to your Sui Wallet. You can simply deposit USDT in Binance and buy an SUI token. The withdrawal fee is only 1 SUI on Binance and will cost you less than using a bridge and swap to get SUI token.
You can also use the Sui native bridge to bridge your USDC from Ethereum to the Sui blockchain. It enables users to securely and efficiently transfer assets like ETH, wBTC, USDC, and USDT to and from Sui. Normally, the transfer is instant from Sui to Ethereum and takes around 13 minutes from Ethereum to Sui. There is no fee charged by Sui Bridge. Sui Bridge subsidizes claim gas costs for transfers from Ethereum to Sui unless the global bridging limit is hit at this time. In this case, the only expense is the gas costs on Ethereum.
How to Trade Sui Meme Coins
You will need some tools before getting started. These tools will help you with the information and data needed when trading meme coins on the Sui Blockchain. These tools include;
- Sui Wallet
- Sui Chain Explorer
- Sui Meme Coin Fair Launch Platform
Let’s get started with each of these tools.
Sui Wallet: You will need to download the Sui Wallet from the website to get started. Open a Sui Wallet using either your email or using mnemonic and key management style. Sui wallet is not EVM—Ethereum Virtual Machine compatible and therefore won’t easily be added like other EVM compatible chains. Once you have created your wallet, you can deposit using your Sui Wallet address.
Sui Chain Explorer: You will need the Sui Chain Explorer for checking the meme coin smart contract address that you are looking to trade. Also, you can check the meme token details, like the total supply, circulating supply, and on-chain market capitalization. You will need it.
Sui Meme Fair Launch Platform: Trading meme coins on Sui is a lot easier with the First Meme Fair Launch Platform on SUI Network. Movepump.com on Sui allows anyone to create a meme coin and launch it in a fair launch manner. Bluemove, the decentralized exchange on Sui, is the creator of movepump.com—the first meme coin fair launch platform on Sui Blockchain.
Conclusion:
Trading on meme coins on fair launch platforms has been a trend since the debut of pump.fun on Solana. Traders are to exercise caution when trading meme coins as it’s a high-risk trading. This is not financial advice
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