Mill City Ventures, a Nasdaq-listed firm, has increased its holdings in the Layer 1 blockchain platform Sui by acquiring an additional 5.6 million SUI tokens in an over-the-counter purchase worth more than $20 million at an average price of $3.65 per token. This acquisition brings Mill City Ventures' total SUI holdings to approximately 81.9 million tokens, valued at around $316 million. The majority of these tokens, about 92%, are staked, generating a daily yield of $26,000. Sui is recognized for its decentralized, permissionless smart contract platform focused on low-latency asset management. The firm's investment in Sui represents a concentrated bet on the blockchain's potential to rival established Layer 1 networks such as Ethereum and Solana. Additionally, Sui has recently seen rapid user growth, adding 2 million accounts in a single day. The performance of SUI tokens has outpaced a simple buy-and-hold strategy by nearly three times over the past year.