SUI price surges, up 44% in a week! Grayscale Sui Trust opens to boost market frenzy
In the past week, the price of SUI tokens has soared like a rocket, up more than 44%, soaring to a high of more than $1.67, and the cumulative increase in the past 30 days has reached an astonishing 65%. This wave of strong upward momentum not only brought SUI back to its glorious moment in early April, but also set off a lot of waves in the blockchain field.
Grayscale Sui Trust opens, igniting market enthusiasm
The surge in SUI price is closely related to Grayscale's announcement that its Sui Trust is officially open to qualified investors. This news is like a spring breeze, instantly activating the market's trading enthusiasm. Since the announcement of the news, SUI's daily trading volume has risen sharply, and the price has also risen accordingly, successfully breaking through the $1 mark, and continuing to sprint upward.
Sui ecosystem prospers, TVL breaks through the $1.3 billion mark
At the same time, the total locked value (TVL) of various decentralized financial (DeFi) protocols in the Sui blockchain ecosystem has also achieved a qualitative leap, reaching an astonishing $1.34 billion. This figure not only highlights the development potential of the Sui network, but also reflects the market's high recognition and trust in the Sui project.
According to DeFiLlama data, Sui's TVL started at about $250 million in early 2024 and climbed to $1 billion in May. Although the cryptocurrency market subsequently experienced fluctuations and the price of Bitcoin once fell below the $50,000 mark, Sui's TVL rebounded quickly after a brief correction to $462 million and accelerated to $1.34 billion in less than a month.
The booming DeFi ecosystem drives the rise in SUI's value
The explosive growth of Sui's network TVL is inseparable from its increasingly prosperous DeFi ecosystem. From loan agreements to decentralized exchanges, from real-world assets to derivatives and yield products, all types of protocols in the Sui ecosystem have shown a trend of rapid growth and widespread application.
Among them, Navi Protocol's TVL growth was particularly significant, with an increase of 34%, and the total value has exceeded $449 million. The loan protocols Scallop and Suilend also performed well, with TVL reaching $246 million and $203 million, respectively, setting new monthly peaks.
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