Sui Network hits all-time high in DeFi market

Sui Network’s total locked value (TVL) hit an all-time high of $1.192 billion, mainly due to the growth of lending protocols on the network. NAVI protocol total lending amount reached $454 million, a weekly increase of 14.16%; Scallop Lend rose 16.01% to $245 million; Suilend protocol value increased 26.8% to $208 million. Sui Network has seen growing interest from users and investors in the DeFi market, with a total stablecoin market value of $420.19 million and a 24-hour trading volume of $84.11 million. Its success provides a reference for other projects, and TVL is expected to continue to grow. The SUI token is trading at $1.68, down 3.53% in the past 24 hours. The market believes that this pullback is a healthy adjustment because its value has risen by more than 85% in the past month, which may bring buying opportunities.