Sui Network's TVL surged to $810.5M, up 283% year-to-date.
SUI token increased 30% in a week, showing growing market confidence.
DeFi protocols like NAVI and Scallop Lend drove Sui's rapid growth.
The Total Value Locked (TVL) at Sui Network soared to a new high of $810.5 million on September 19, according to DefiLlama. During the same period, the SUI token also surged, rising over 30% in the last week, based on CoinGecko’s data. This sharp growth occurred despite recent market fluctuations, showing increased confidence in Sui’s platform.
https://twitter.com/CryptoBullet1/status/1836692192481444314 DeFi Protocols Powering Sui’s Growth
Sui’s TVL has grown by 283% year-to-date, starting from $211 million. TVL measures the total amount of cryptocurrency locked into DeFi protocols, mainly for activities like lending and trading derivatives.
This growth reflects rising interest in Sui’s offerings. All of the top DeFi protocols on Sui have seen significant gains recently.
NAVI Protocol, one of Sui’s lending platforms, grew its TVL by 16.5%, reaching $310 million. Scallop Lend, another lending protocol, increased its TVL by 19.5%, bringing its total to $140.5 million.
SUI Token's Price Surge
Along with the TVL surge, the SUI token has been one of the top performers in the crypto market this week. Its 30% price spike signals growing confidence in Sui’s potential.
Even with some TVL dips during earlier market corrections, Sui has shown resilience. This latest increase suggests that investors believe in the platform’s long-term value.
The combination of rising TVL and SUI’s price surge points to a network on the rise. Looking ahead, both Sui’s DeFi ecosystem and its token’s price will be closely monitored.
If this momentum continues, Sui could further establish itself as a key player in decentralized finance. Investors and market watchers are eager to see whether this resilient token will maintain the bullish momentum.
The post Sui Network’s TVL Reaches New Heights as SUI Surges 30% appeared first on Crypto News Land.
