Bybit, the global cryptocurrency exchange, has expanded its On-Chain Earn platform to include SUI staking. This addition allows users to directly stake their SUI tokens on the blockchain, participating in layer-1 security while earning staking rewards.
Joan Han, sales and marketing director of Bybit, stated, “We are excited to enhance our On-Chain Earn platform with the addition of SUI staking. This staking initiative reflects our commitment to empowering users with innovative and accessible ways to grow their crypto assets.”
To celebrate the launch, Bybit is hosting a promotional event from December 10th, 2024 to January 3rd, 2025, offering a bonus pool of 12,000 SUI. Users who stake SUI on the On-Chain Earn platform for at least 24 hours will be eligible to share in the bonus pool, with rewards distributed daily at 6:00 am UTC.
The integration of SUI staking follows the recent surge in SUI’s price. In October, the cryptocurrency experienced a significant price increase, reaching an all-time high of $4.46 on December 6th. This surge was attributed to several factors, including the integration of the Phantom wallet and the addition of USDC support on the Sui network.
Bybit’s On-Chain Earn platform previously supported the staking of prominent proof-of-stake cryptocurrencies such as Ethereum and Solana. The addition of SUI staking further expands its offerings and provides users with more opportunities to earn rewards while contributing to the security and stability of the Sui blockchain.
December 2024, Cryptoniteuae
