Aug 12, 02:24 PM

Mill City Ventures Buys 5.6M SUI at $3.65 Each; Grayscale Launches DeepBook and Walrus Trusts for Accredited Investors

Mill City Ventures has increased its holdings in Sui Network's native token $SUI by acquiring 5.6 million tokens for over $20 million at an average price of $3.65 per token. The Nasdaq-listed firm now holds a total of 81.9 million $SUI, valued at approximately $316 million, with 92% of these tokens staked generating around $26,000 daily. Meanwhile, Grayscale has launched two new single-asset trusts, the DeepBook Trust and the Walrus Trust, providing accredited investors with direct exposure to $DEEP and $WAL tokens, respectively. Both tokens are integral to the Sui Network ecosystem: $DEEP serves as the foundational liquidity layer for decentralized finance applications, while $WAL powers scalable, decentralized data management. These trusts represent Grayscale's expansion into core permissionless infrastructure projects on the Sui blockchain, aiming to support real-world Web3 adoption and enhance the network's trading and data capabilities. The trusts have been registered officially, signaling institutional interest in Sui Network's growing ecosystem.