Sui TVL Hits Record $2.6 Billion Amid DeFi Growth – Crypto News – Crypto News
Connect with us
Sui TVL Hits Record $2.6 Billion Amid DeFi Growth Sui TVL Hits Record $2.6 Billion Amid DeFi Growth

De-fi

Sui TVL Hits Record $2.6 Billion Amid DeFi Growth – Crypto News

Published

3 months ago

on

The growth is being driven by rising liquidity on DeFi protocols like Suilend and Momentum.

Sui, a layer 1 (L1) blockchain, reached a new all-time high in total value locked (TVL) of $2.6 billion on Thursday, according to data from DeFiLlama.

The figure marks a 37% increase from one month ago and a 160% jump from a year earlier, when TVL stood at around $1 billion. Sui recently surpassed $156 billion in decentralized exchange (DEX) volume, and is the sixth-largest chain by 24-hour trading volume, per CoinGecko

Meanwhile, the blockchain’s native token is changing hands at $3.39 with a market capitalization of over $12.2 billion, an 80% increase over the past year, according to CoinGecko.

The milestone reflects Sui’s expanding presence in the decentralized finance (DeFi) sector as newer L1 networks continue competing for liquidity and on-chain activity. The increase has been fueled by growing liquidity across DeFi protocols such as Suilend, Navi, and Momentum, which have drawn more users and deposits in recent weeks.

Suilend currently ranks as the largest protocol on Sui, with $745 million in TVL, up 11% over the past month. Navi follows with $723 million, a 14% monthly increase. Momentum takes third place with $551 million, marking a 249% rise over the same period.

This comes amid broader growth across the DeFi ecosystem, fueled by rising activity in lending, borrowing, and token trading. Total DeFi TVL has more than doubled over the past year, climbing 104% from $85 billion in October 2024 to $175 billion today, according to DeFiLlama.

Sui has also announced several partnerships this year that have attracted users to its ecosystem. In March, the blockchain revealed a strategic collaboration with World Liberty Financial (WLFI), a DeFi project linked to President Donald Trump. WLFI issues the USD1 stablecoin, which currently ranks as the seventh-largest stablecoin by circulating supply.

Earlier today, news broke that EVE Frontier, one of Web3 gaming’s largest projects, is set to migrate to Sui.

Related Topics:
Continue Reading

Trending