Bitcoin wrapped by Bitgo can now move from the ethrium to the needle through the needle bridge via a needle bridge, expanding BTCFI to SUI ecosystem.
The price of SUI (SUI) rose by $ 3.37 on Tuesday, February 4, after the news that the Sui Bridge now supports the wrapped bitcoin (WBTC). With integration, users can now move bitcoin (BTC) from Ethereum (Eth) to the Sui network.
In a blog announcement on 3 February, the SUI team stated that the network was turning WBTC into “fully composited property”. User now reads the declaration, borrowing, trade, or keeping their WBTC to work in various decentralized finance apps, such as bluefin, navy and sueland, who are now supporting WBTC, reading the announcement.
“BTC has always been the correction of Crypto, but its use is largely limited to the value of value. Btcfi on SUI it changes, converts the WBTC to a fully composited property that originally integrates in the Defi protocol on the SUI. ,
Needle
Meanwhile, analysts seem optimistic about the long -term ability of the SUI. Vanek’s Patrick Bush earlier stated that the needle, which currently has 280 active developers, is seen as a contestant from Ethereum and Solana. By the end of 2025, Bush says that the needle can reach a price of $ 16, representing an increase of 326% from its current level.
Nevertheless, cryptocurrency faces many risks that can affect its long -term development, Bush warned. A major challenge requires this for effective business development. Additionally, SUI has not yet developed a “harmonious strategy that integrates technological development with the expansion of the ecosystem,” Bush writes. At its top, the infrastructure of the SUI has not been stressed, raising concerns about the ability to handle complex operations.
