On August 7, 2025, Sui Network announced a significant update: the mainnet officially integrated the Passkey feature. Users can now log into Sui ecosystem applications and sign transactions directly through Face ID, fingerprint, or system password, completely eliminating the cumbersome processes of seed phrases, browser extensions, or standalone wallet applications. This authentication solution, based on FIDO and W3C open standards, is jointly promoted by tech giants such as Apple, Google, and Microsoft, marking Sui’s advancement in enhancing a key step forward in Web3 usability.
Sui Wallet Product Matrix Evolution: From Integration to Passwordless
- Slush Wallet: Unified Entry Formed. In April this year, the original Sui Wallet merged with Stashed Wallet to launch Slush Wallet, supporting collaboration across web, mobile app, and browser extension. Its core features include:
- zkLogin Quick Login (Create a cryptocurrency wallet directly using Google, Facebook, and other accounts)
- Self-custody asset management
- One-click NFT management and staking operations; early compatibility issues with plugins have been resolved, allowing users to achieve seamless synchronization across devices.
- Passkey: The Revolution of Biometric Popularization. As an enhancement to the Slush experience, Passkey went live on the mainnet in August and was first integrated by the Nimora wallet. Its technical advantages include:
- Cloud Key Synchronization: No need for recovery with a mnemonic phrase when changing devices
- Hardware Security Key Support (such as YubiKey)
- Cross-device QR code login capability allows users to operate on-chain applications as easily as logging into email, significantly lowering the entry barrier for new users.
- Financial Scene Extension: Virtual Mastercard Launched in Europe. The Sui-branded virtual Mastercard, issued in collaboration with xPortal (2.5 million users) and xMoney, now allows European users to instantly spend on-chain assets through Apple Pay/Google Pay. Stablecoins can be exchanged for euros in the app in real time and completed for payment, bridging the settlement loop between crypto and the real economy.
Sui Network Ecosystem Overview: Data Growth and Technology Engine
Explosive Growth of Users and Developers: The current number of active wallets has reached 27 to 28 million, and it is expected to exceed 120 million by the end of 2025. The developer ecosystem is centered around the Move language, aiming to attract 25,000 active developers to build a richer application matrix.
Performance and Scalability Breakthrough: Sui’s core technical architecture continues to upgrade, forming a triple competitive advantage:
- Consensus Layer: Mr. SETI (based on DAG) achieves sub-second transaction confirmation
- Storage Layer: Walrus provides programmable decentralized storage
- Expansion Plan: Remora technology supports horizontal scaling, and the test network has reached hundreds of thousands of TPS.
The stability of its Gas fees has become a key factor in attracting enterprise-level applications, especially in scenarios with high concurrency where the advantages are significant.
- DeFi and capital attention is rising: Institutional investor Mill City Ventures recently increased its holdings of SUI tokens by $20 million (average price $3.65), bringing its total holdings to 81.9 million tokens and plans to participate in staking. The total value locked (TVL) on-chain is expected to grow tenfold within a year.
Application Scenario Expansion: From Gaming to Enterprise Services
- Integration of Gaming and Hardware: Promote the popularization of Web3 games with SUI Play dedicated devices, combined with programmable P2P tunneling technology to achieve multi-player off-chain interaction and on-chain settlement.
- Maturity of DeFi Infrastructure: Low Gas fees and high throughput characteristics attract intensive deployment of DEXs, aggregators, and derivative protocols, such as the derivative platform Nimora, where user growth increased by 40% after integrating Passkey.
- Enterprise-Level Solutions: Walrus storage supports decentralized website hosting, combined with compliant payment channels, providing traditional enterprises with an on-chain service entry.
Market Performance and Short-term Catalysts
According to Gate market data, as of August 15, the trading price of SUI is $3.69, with a market capitalization of $12.99B, and it has increased by over 300% in the past year. Additionally, on September 1, SUI will face the unlocking of 44 million tokens, which may bring short-term volatility. Technically, it shows a breakout trend; if it holds the support level of $3.50, the upward target will be $4.00–$4.80.
Conclusion: Experiencing a Revolutionary New Paradigm
Sui simplifies Web3 interactions to "one click" through Passkey, leveraging the Move language and horizontal scaling architecture to support high-frequency scenarios. With the integration of the Slush wallet entry, the European virtual card opening fiat channels, and continuous inflow of institutional funds, its ecosystem is shifting from a technical experiment to large-scale implementation. If it achieves the goal of 120 million wallet users as planned, Sui is expected to become the first Layer 1 infrastructure that disrupts the industry through user experience.
