๐๐ธ Sui Skyrockets Over 1,300% from Its Lowest Point, Reentering Strong Uptrend ๐ธ๐
$SUI , a layer-2 network, has seen an impressive growth of over 1,312% since its lowest point in 2023. This growth has increased SUI's market cap to more than $15 billion, ranking it as the 13th largest cryptocurrency.
SUI's rise is linked to its ecosystem expansion, with the total value locked in its DeFi sector reaching a new peak of $1.96 billion. The key DeFi platforms within the SUI ecosystem include Suilend Protocol, NAVI Protocol, Cetus, Scallop Lend, and Aftermath Finance.
๐ SUI partnerships
$SUI has expanded through significant partnerships with major firms like VanEck, Grayscale, and Franklin Templeton. Notably, Grayscale introduced the Sui Trust, which has amassed over $14 million. A potential change in SEC's stance on crypto ETFs could lead Grayscale to apply for a spot SUI ETF in 2025.
SUI's growth is further evidenced by its integration of four stablecoins - USD Coin, AUSD, FDUSD, and USDY, contributing to a total market cap exceeding $406 million.
SUI launched Deepbook V3, its on-chain order book, with trading volumes surpassing $1 billion. The DEEP token associated with this platform has achieved a market value of over $375 million.
The DEX ecosystem of $SUI is thriving, with a cumulative trading volume reaching over $46 billion since it started.
SUIโs futures market has seen a significant increase in open interest, peaking at $963 million from a weekly low of $650 million, indicating growing investor interest in this
token.
๐Disclaimer: This is not a financial recommendation, cryptocurrency investments are speculative, and past performance does not guarantee future results. Always conduct your own research and consider your risk tolerance.
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