Today, I want to share something that’s been catching my attention lately—Sui Blockchain and a protocol called Bluefin, which lets you trade perpetual futures. Whether you're betting on prices going up (long) or down (short), there's a lot to unpack here. And while this is NOT financial advice, it’s definitely worth exploring if you’re into crypto trading. If you're a bit lazy like me, just watch the video below. Otherwise, you may read the full post.
What’s Sui Blockchain All About?
Sui is one of the fastest-growing Layer 1 blockchains out there. It’s designed for scalability, speed, and low transaction fees, making it an attractive option for decentralized finance (DeFi) enthusiasts. If you’re new to Sui, here’s how to get started:
Step 1: Create a Sui Wallet
To interact with the Sui ecosystem, you’ll need a wallet. The most popular option right now is the Sui Wallet , which is available as a browser extension. Here’s how to set it up:
- Go to the official Sui Wallet website and download the extension for Chrome or Firefox.
- Install the extension and follow the prompts to create a new wallet.
- Write down your seed phrase and store it in a secure place. This is crucial for recovering your wallet if you lose access.
- Once your wallet is set up, you’ll see your public address—this is what you’ll use to send and receive funds.
Step 2: Transfer SUI and USDC from Binance
If you already own SUI or USDC on Binance and want to move them to your Sui wallet, here’s how:
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Withdraw SUI or USDC:
- Log in to your Binance account and go to the withdrawal section .
- Select SUI or USDC as the asset you want to withdraw.
- Choose the Sui Network as the withdrawal network (not Ethereum or any other chain).
- Paste your Sui wallet address into the recipient field. Double-check the address—it’s irreversible once sent!
- Confirm the withdrawal and wait for the transaction to process.
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Check Your Wallet:
- Open your Sui Wallet extension and refresh the page. You should see your transferred tokens appear shortly after the transaction is confirmed.
How to Use Bluefin on Sui
Once you’ve got your Sui wallet loaded with SUI or USDC, you can start trading perpetual futures on Bluefin . Here’s why it’s worth considering:
One thing I always keep an eye on? RSI (Relative Strength Index) and volume trends . For example, when the RSI shoots above 70, it often signals that a correction might be around the corner. Right now, the RSI for SUI is sitting at around 78 . That doesn’t mean a drop is guaranteed—it stayed above 70 for weeks last November, even hitting 82—but it’s a good indicator that things could get interesting soon.
Here’s where it gets spicy:
- If you see trading volumes start to taper off while the RSI keeps tapping that upper limit, it’s a potential red flag.
- Combine that with a positive funding rate , meaning longs are paying shorts , and you’ve got an opportunity to profit from shorting. Essentially, you’re being paid to bet against the asset as it potentially drops in value.
But wait—there’s more! If you want to hedge your bets and stay delta neutral , you can balance your short position by stacking SUI tokens elsewhere. Platforms like Navi Protocol let you earn interest on your holdings, so you’re raking in rewards on both sides of the trade. Neat, right?
Pro Tip: Stacking SUI for Passive Income
If you’re holding SUI tokens, don’t let them sit idle. Instead, stake them on platforms like Navi Protocol or other DeFi protocols within the Sui ecosystem to earn passive income. This way, you’re earning interest while keeping your portfolio balanced.
Final Thoughts
Of course, none of this is foolproof. Trading always comes with risks, especially when leverage is involved. So before jumping into Bluefin—or any platform—do your homework. If you want to learn more about how to navigate these strategies, check out my video where I break everything down step by step.
Hope this helps spark some ideas for your next move. Let me know what you think in the comments below...
👉 Watch My Full Video Below
