<\/p>\n
The closure comes as monthly DEX volumes on Sui have dropped 70% from last year\u2019s peak.<\/p>\n
Crypto trading terminal Nexa, formerly known as InsiDeX, is shutting down just a year after its acquisition by decentralized exchange Bluefin, citing what it calls \u201cextremely low\u201d trading volumes on the Sui<\/a> blockchain.<\/p>\n In a Feb. 10 post on X<\/a>, the team said \u201conly 2-3 coins [are] seeing some decent activity\u201d on Sui, leaving traders with few real opportunities, and added that it was built for fast trades and active markets, conditions that never appeared.<\/p>\n \u201cThere\u2019s a real sense of sadness in shutting down Nexa because we succeeded in building a product that was actually the most used trading suite on Sui at one time. Unfortunately, the market it was built for never truly materialized,\u201d the team wrote.<\/p>\n The shutdown follows months of Nexa pushing<\/a> points-based rewards and other engagement schemes, but that campaign went quiet before the closure.<\/p>\n The move highlights broader weakness across Sui\u2019s DeFi ecosystem. As of Feb. 12, 2026, DefiLlama data shows<\/a> total value locked (TVL) on Sui at about $561 million, down roughly 78% from a peak of $2.6 billion in October 2025.<\/p>\n DEX volumes have also dropped<\/a>, falling around 70% from $22.3 billion in October to about $6.8 billion in January. Sui\u2019s native token SUI<\/a> has also dropped around 50% over the past month to $0.93, per data from CoinGecko.<\/p>\n Moreover, the start of 2026 was rocky for the Sui blockchain as it suffered a six-hour outage that stopped block production. The team later explained<\/a> that the problem was a bug in the network\u2019s consensus system, which caused validators to disagree on data and temporarily froze transactions.<\/p>\n But Sui isn\u2019t the only network facing challenges amid falling liquidity, as a similar story is unfolding on rival chains like Aptos<\/a>. As The Defiant reported<\/a> earlier this month, Merkle Trade \u2014 the largest perpetual DEX on Aptos by volume \u2014 said it would wind down operations despite processing nearly $30 billion in cumulative trades, as TVL across the network continued to fall too.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The closure comes as monthly DEX volumes on Sui have dropped 70% from last year\u2019s peak. Crypto trading terminal Nexa, formerly known as InsiDeX, is shutting down just a year after its acquisition by decentralized exchange Bluefin, citing what it calls \u201cextremely low\u201d trading volumes on the Sui blockchain. In a Feb. 10 post on […]<\/p>\n","protected":false},"author":2,"featured_media":419571,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-419570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/419570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=419570"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/419570\/revisions"}],"predecessor-version":[{"id":419572,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/419570\/revisions\/419572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/419571"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=419570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=419570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=419570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}