Sui lands on Brazil’s Mercado Bitcoin, and the timeline is once again pushing “4.5 million users get exposure to SUI.”
Guys, calm down. The 4.5 million figure is the number of customers on the entire Mercado Bitcoin platform—not the number of people who are going to buy SUI. An exchange listing one more coin or enabling deposits and withdrawals on one more chain is just a listing; it doesn’t mean 4.5 million people are coming in. By that logic, every coin listed on a major exchange could claim “tens of millions of users.”
There are two things here that actually have some substance: USDsui can be used as collateral for borrowing on the platform; and Mercado Bitcoin says it plans to move to Sui the platform for the 800-plus tokenized assets it has issued since 2019, while also exploring Hashi (using BTC as collateral). But pay attention to the wording: “plans to” and “exploring” mean it’s planned, not live.
Now look at who’s pushing the story: BSCN’s post has around 7,400 views, and a bunch of accounts below it are copying the original word for word. One account called “POLKADOT is” is helping Sui push the press release. Pretty interesting.
My take is simple: this is positive for distribution, but we’ll have to see whether USDsui gets real borrowing volume in Brazil and whether RWA actually goes on-chain in a few months. Anyone chasing it now based on “4.5 million new buyers” is basically providing liquidity to people who got in early.
#SUI
Guys, calm down. The 4.5 million figure is the number of customers on the entire Mercado Bitcoin platform—not the number of people who are going to buy SUI. An exchange listing one more coin or enabling deposits and withdrawals on one more chain is just a listing; it doesn’t mean 4.5 million people are coming in. By that logic, every coin listed on a major exchange could claim “tens of millions of users.”
There are two things here that actually have some substance: USDsui can be used as collateral for borrowing on the platform; and Mercado Bitcoin says it plans to move to Sui the platform for the 800-plus tokenized assets it has issued since 2019, while also exploring Hashi (using BTC as collateral). But pay attention to the wording: “plans to” and “exploring” mean it’s planned, not live.
Now look at who’s pushing the story: BSCN’s post has around 7,400 views, and a bunch of accounts below it are copying the original word for word. One account called “POLKADOT is” is helping Sui push the press release. Pretty interesting.
My take is simple: this is positive for distribution, but we’ll have to see whether USDsui gets real borrowing volume in Brazil and whether RWA actually goes on-chain in a few months. Anyone chasing it now based on “4.5 million new buyers” is basically providing liquidity to people who got in early.
#SUI