SUI tokens are struggling to recover from the low point of the year.
SUI has fallen sharply in the overall value of the #blockchain .
The fall in #SUI value reflects the downward trend of the crypto industry.
The crypto industry has shown mixed asset performance in recent weeks, as evidenced by impressive value spikes and drops. Sui, a Tier 1 blockchain offering scaling solution #BTC , like many others, has gotten off to a strong start, recording impressive growth across its ecosystem.
Gaining momentum, Sui celebrated a historic milestone on March 28, when the total value of the blockchain surpassed $700 million. The celebrations were short-lived, however, as the DeFi protocol quickly went downhill.
According to data from analytics platform DeFiLlama, on Monday, April 8, the total amount contributed to Sui's blockchain was $654 million.
This is 12% less than the record $724 million a week earlier, indicating a downward trend after the record peak. However, despite the decline in Sui TVL's value, it still outperformed well-known chains such as PulseChain and Cardano, which set negative records of -23.58% and -15.91% over the same period.
Sui's current value has also increased by 25.5% over the past month, or about 68% compared to its value on New Year's Eve.
The impressive performance of this new retail #chain has fueled optimism that it can develop parabolic momentum, increase DEX volume, accumulate TVL value-add and become a top-10 chain.
TVL Sui's fall reflects the current underperformance of its native tokens, which have also fallen sharply from trading price highs over the past year.
Sui's native ecosystem tokens are currently trading at $1.69, about 28% below the all-time high of $2.18 reached on March 27, 2024.
Overnight, the current value rose 2.9 percent, and over the past seven days, the token has fallen in price by 12.10 percent.
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