Key notes
- Mill City Ventures launched the first SU reserve treasure.
- This decision presented a first investment of $ 450 million, supported by the best VC in crypto.
- Suis Network is gaining ground as a platform for contract and intelligent development.
The SUP network has taken a big step before a major investment agreement by Mill City Ventures. The company, listed on the Nasdaq under the MCVT Ticker, has hired $ 450 million to keep tokens as a fundamental part of its balance sheet. This decision opens a new path for public investors to access the ecosystem via a regulated and visible platform.
Mill City Ventures buys more than 76 million tokens
According to an official press release, Mill City Ventures is now the first public company focused on the holding of Suit as a cash reserve. The company added 76,271,187 sui to its balance sheet, with an average purchase price at $ 3.6389 per room.
The assets were acquired by a direct agreement with the SUP Foundation, as well as other contributions in kind.
This marks a passage in the usual way of people who have acceded to SU. Until now, most of the activities have occurred on some of the best cryptographic and digital platforms. With this decision, Mill City facilitated traditional investors and merchants to expose themselves to SUA via the stock market.
According to the official version, the support of the agreement came from several well -known names in the world of digital assets. Galaxy Digital, Big Brain Holdings, Nlabs Fund and Dr Jack Kong were among the investors. Galaxy Asset Management has been appointed Director of assets of Holds Sui de Mill City.
This evolution also arrives at a time when the price of the room has been developed. A recent update of Coinspeaker noted that the Prix de SU had recorded an increase of 8%. This also supports the price target of $ 5, especially since the total value of the locked network (TVL) reached a summit of more than $ 2.2 billion in July.
Public market interest is strengthening
The SUP network continued to draw a constant attention from major financial institutions. Interestingly, although alternative cryptocurrencies like XRP have gained ground thanks to potential FNB approvals and regulatory discussions, the interest in suis is also increasing.
In recent months, companies like Canary Capital and 21Shares have deposited FNB linked to Sui, reporting growing confidence in its potential. Grayscale, Vaneck and Bitwise also introduced investment products related to the network, further strengthening its attraction among institutional investors.
Meanwhile, Christian Thompson of the Foundation Suis said that this step was a way to meet growing demand. By working with Mill City Ventures, the Foundation hopes to make it more accessible to public market investors who have previously been cut off from the ecosystem.
The SUP speed and infrastructure made it a strong option for creating applications for finance, game and storage developers. The presence of a public commercial vehicle could help these developers attract a wider user base. In addition, Coinspeaker noted that Suis Network was working on an update to boost Bitcoin Defi via its integration with batteries. This decision will allow secure and scalable use of SBTC in decentralized financing applications.
This offer also sends a strong message. The following network built bridges with traditional finances. It is no longer just a project for cryptographic initiates. With this movement, the door is now open so that more people participate in its growth.
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Non-liability clause: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to provide precise and timely information, but should not be considered as financial or investment advice. Since market conditions can change quickly, we encourage you to check the information for yourself and consult a professional before making decisions according to this content.
Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
