SUI Token Soars Amid Speculation of Potential Pokémon Collaboration and Ecosystem Growth

• The SUI token has surged 62% this week due to rumors of a Pokémon collaboration fueled by Parasol Technologies’ involvement.

• Parasol Technologies, acquired by Mysten Labs, is linked to the Pokémon HOME privacy policy update, stoking blockchain speculation.

• The Sui ecosystem sees impressive growth, with its total value locked (TVL) reaching $1.6 billion and SUI’s market performance improving.

Discover how the SUI token’s 62% rise is linked to Pokémon collaboration rumors, driving ecosystem growth and market confidence in this concise analysis.

Is Sui Blockchain Powering Pokémon’s Next Big Move?

For context, Pokémon HOME is a cloud-based storage and transfer service for Pokémon across multiple games. Notably, the privacy policy update was made without a formal announcement.

Despite this, eagle-eyed users from gaming and blockchain communities quickly noticed Parasol’s inclusion. An X (formerly Twitter) user first highlighted the update in a social media post.

“With today’s Pokémon HOME update, the privacy policy was updated, including the addition of an additional developer: Parasol Technologies, LLC,” the post read.

Pokémon HOME Privacy Update. Source: X/abcboy101

Interestingly, the user noted that the update is only visible in the app, though it has yet to be reflected on the website. Moreover, Parasol Technologies is mentioned only in the privacy policy’s English, Spanish, French, German, and Italian versions.

The Japanese and Chinese versions continue to list ILCA and The Pokémon Works as the sole developers. Meanwhile, Korea’s privacy policy update designates Parasol as an overseas data trustee.

That’s not all. In a recent blog post, the Sui Foundation detailed Parasol’s latest initiative to integrate collectible card games with blockchain-based NFTs. The project focuses on leveraging Sui’s speed, scalability, and interoperability to create engaging gaming experiences that allow for verifiable ownership, trade, and rarity of digital assets.

Nonetheless, according to the user, this blog originally mentioned Pokémon but was later edited to remove the reference.

Sui’s Rumored Collaboration with Pokémon. Source: X/abcboy101

“The official Sui Foundation blog confirmed (and removed) Pokémon NFTs. They seem to be developing a cloud infrastructure that uses blockchain technology to address bugs, hacks, and duping while enabling transfers between compatible games—something that is already possible with Pokémon Home,” another user highlighted.

This has sparked further speculation that Parasol may be involved in developing new features for Pokémon. However, it’s worth noting that no official statements from The Pokémon Company, Sui Foundation, Nintendo, or Mysten Labs have confirmed these claims.

SUI Price and TVL Surge Amid Growing Confidence

Meanwhile, the rumors have positively impacted SUI’s market performance.

“Sui x Pokémon would be nuts. This may partially explain SUI’s recent outperformance,” said Collective Shift’s Director of Research Matt Willemsen.

According to COINOTAG data, the altcoin has surged 62.2% over the past week. At press time, SUI was trading at $3.4, representing a double-digit rise of 13.4% over the past day.

SUI Price Performance. Source: COINOTAG

In addition, DefiLama data showed that the total value locked (TVL) on the network has grown by 38%, reaching an impressive $1.6 billion. This growth highlights the increasing confidence in the Sui ecosystem.

The 24-hour trading volume on decentralized exchanges (DEXs) has also seen a substantial rise, reaching $577 million, a 167% increase from the previous week. Additionally, stablecoins on the Sui network have grown rapidly, from $482 million to $879 million over the past two months, marking an 82% increase.

SUI Network Performance. Source: DefiLama

As rumors swirl, all eyes are on The Pokémon Company and Mysten Labs for clarity. The dots remain unconnected for now, but the speculation has undeniably put Sui in the spotlight.

Conclusion

In summary, the surge in SUI token value driven by speculation around a Pokémon collaboration illustrates the impact of community engagement in the crypto space. As updates unfold, stakeholders will closely monitor developments from The Pokémon Company and Mysten Labs to gain clarity on future collaborations and innovations.