"Will SUI prices skyrocket in the future?"
Sui Network's Layer-1 blockchain protocol successfully signed an agreement with Formula One (F1) racing team Oracle Red Bull Racing to develop a fun digital experience that fans around the world can enjoy.
For context, Oracle Red Bull Racing is an F1 team that was very prominent when it recently used Singapore-based cryptocurrency exchange Bybit as one of their main sponsors.
Following F1 is a major sporting event that gathers viewers around the world, Sui Blockchain will benefit from the large-scale publicity of the protocol to a global audience.
In addition, the use of the new technology will also give the F1 side a competitive advantage coupled with the Sui Network which can help propel it to the forefront.
Please note that the collaboration between Sui Network and Oracle Bull Run is a multi-year agreement that will showcase how emerging technologies and blockchain innovations can foster human interaction.
The recently launched Sui Network aims to offer scalability to the entire crypto market, where the protocol is supported by Mysten labs, a tech team made up of Meta Alumni.
However, the price of SUI plunged by 2.43% to $0.93 in the last 24 hours with a market capitalization of $494 million further recording a decrease of around 4.02% over the last week.
