Sui’s Notable Climb in DeFi
Sui is quickly becoming a major player in the DeFi world. The blockchain now holds over $1.75 billion in total value locked (TVL).This growth shows its rising popularity and adoption.
As its launch, Sui has made critically important strides. it uses Move language, which has helped it stand out. The network has climbed to the 8th spot among the largest chains by TVL.It has surpassed other big names like Aptos,Cardano,and Polygon.
A key factor behind Sui’s success is the increase in Bitcoin-pegged assets. About 10% of its TVL is in assets like wBTC, LBTC, and stBTC. The network has also reached a major milestone wiht over $1 billion in stablecoins circulating. This deeper liquidity benefits builders and traders.
The native SUI token has also played a role. It recently hit an all-time high of over $5 during a market uptrend. While it has since stabilized around $3.20, it’s still up considerably year-to-date.
Industry leaders are taking notice. Charles Hoskinson,the founder of Cardano,praised Sui as an innovative alternative to Solana. There are also rumors of a potential spot ETF approval for the SUI token, which could further boost its growth.
With its current momentum, sui is on track to become one of the top-performing blockchains.
