Cetus, a decentralized exchange (DEX) for Sui and Aptos blockchains, has achieved a new milestone with its total value locked (TVL) surpassing $183 million on October 2. Launched at the end of 2022, Cetus initially peaked at nearly $155 million in June but experienced a significant drop, losing over 50% of its liquidity within a month.

Since early August, the DEX has shown remarkable recovery, with its TVL increasing by over 154%, including a 90% surge in the past month alone, according to DefiLlama. Notably, Sui accounts for 99.9% of Cetus's TVL, making it the largest DEX on the Sui blockchain, which itself has reached a record $1.29 billion in TVL.

Sui's rapid growth has positioned it as the ninth-largest blockchain by TVL, surpassing notable networks such as Polygon and Aptos. Other significant contributors to Sui's growth include Navi Protocol, Scallop, and Suilend, all achieving record TVL figures.

Cetus has solidified its status as the largest DEX on Sui and the fourth-largest dapp on the network. The platform's daily trading volume hit a record $119 million on September 1, and daily fees reached an all-time high of over $288,000 on October 2.