According to Coincu, Sui Network has seen its Total Value Locked (TVL) double in just two months, increasing from approximately $15.3 million to $31 million. This growth is attributed to the network's robust capabilities, including top-tier security, consistently low gas fees, and remarkable throughput, positioning it as a frontrunner in the DeFi ecosystem. Over the past 90 days, Sui Network's TVL has surged by over 30%, highlighting its growing influence.
However, the SUI token has experienced a significant downtrend, marking lower lows since reaching its annual high of $0.45 on September 11. The crypto's price broke through the $0.6 support level and found a new foothold near $0.47.
Sui Network distinguishes itself as a smart contract platform managed by a consortium of validators, functioning similarly to traditional blockchain systems. A standout feature of this platform is its ability to process the majority of transactions in parallel, ensuring scalability and minimal latency for simple transactions like payments and asset transfers. Another notable advantage offered by the Sui Network is its gas fee management, providing stable gas fees per epoch, each lasting 24 hours and overseen by the Validators council. This departure from minute-to-minute fluctuations ensures price stability within daily cycles.
