Ecosystem growth is observed for SUI – the total value locked in has increased by 150% to reach $958.57 million.
There is increasing user activity, as can be seen by the increasing number of daily active addresses to 1.5 million and daily transactions to 4 million.
The trading volume of DEX in the protocol has been at its maximum of $100 million, which indicates better liquidity and market conditions.
SUI protocol has grown by a remarkable 143% of the past three weeks, largely due to the fundamental parameters. Although volatility is a common feature in the crypto markets, the current rally for SUI seems to have very fundamental characteristics of a real demand signal within the ecosystem.
Total value locked soars as DEX trading volume reaches new highs.
Perhaps one of the best ways by which the SUI community can gauge its progress is through the Total Value Locked or TVL. As of this writing, the number is trading at $958.57 million. This number is a 150% increase from late August, which reflects the ongoing investments that fund the ecosystem. The significant increase in the total value locked further indicates that investors are beginning to place their bets into the platform because the perception of long-term potential grows.
https://twitter.com/wiseadvicesumit/status/1839201808163713328
Another important indicator that demonstrates the recent performance of SUI is the increase in the volume of decentralized exchange (DEX). DEX trading volume in SUI reached $100 million, which is the largest value since April. This means that circulation within the Shiba Inu ecosystem is improving, as trading on SUI-based assets increases. Such increase in volume usually are indications of interest and active participation of the users thus good market conditions.
Active Addresses Climb Surge with Transactions Hitting 4 M Daily
Besides, the TVL value and trading volume in the SUI network have increased significantly. Since its launch in May, 2024,1.5 million unique addresses are active daily, which is the maximum activity rate of the network. This increasing active users signifies that there is an increasing number of participants who are using it for such purposes as dApps and other services that are being developed on SUI.
Moreover, daily transaction volumes on the SUI protocol have also spiked and hit a record high of 4 million, the first time since June 2024. This has actually increased greatly and clearly shows that there is an increase in network traffic and hence users are more active and in touch with the SUI network.SUI is acting like most other cryptos, although there are some exhibiting astounding performance, especially those having an anchor on real value.
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