SUI jumps 20% as Alibaba and Mysten Labs ramp up dev support

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SUI, the native token of the Sui blockchain, was trading around $1.1 on Tuesday before a tweet from Mysten Labs, the team behind Sui, announced a deepening partnership with Alibaba Cloud to provide more resources for developers using the Move programming language. Today, SUI jumped 20% to $1.32 per token, according to Coinbase data.

Mysten highlighted plans for an AI-assisted Move code writing tool, educational initiatives at universities globally, community events, and translated documentation to boost adoption in China and Korea.

The smart contract platform also touted Alibaba Cloud infrastructure support, incubator programs across Asia, and incentives for developers through hackathons on a global scale.

The goal, they said, is to “increase velocity for experienced developers while helping new Move developers learn the language and explore its possibilities” on Sui. With the assistance of partners like Alibaba Cloud and ChainIDE, Mysten hopes to rapidly grow the network’s base of builders and users.

The news comes after a turbulent few months for the Sui ecosystem following its mainnet launch in October 2022. Last October, SUI dropped close to its all-time low around of $0.37 amid reports that South Korean regulators were investigating price manipulation claims related to the token.

When five former Facebook engineers started Mysten Labs in 2021 with the intent of building a highly scalable Layer 1 blockchain, developer experience was a top priority. The partnership with China’s largest cloud provider signals a doubling down on that ethos as the team seeks to grow global usage of Sui and Move.

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