CandleFocus Sui Network TVL soars to record high, SUI price up 30%
2024-09-19
Author: Content Editor
The total value locked (TVL) on the Sui Network has reached a new record of $810.5 million, with the SUI token experiencing significant gains of over 30% in the past week. Despite fluctuations in TVL during market corrections, Sui has seen a year-to-date increase of around 283%. The growth in TVL indicates growing interest in Sui's offerings, particularly in its three leading DeFi protocols: NAVI Protocol, Scallop Lend, and Suilend. Moreover, the SUI token has been one of the top-performing crypto assets, surpassing memecoins like PEPE and Aptos in terms of market capitalization and trading activity. The recent launch of the Grayscale Sui Trust and Circle's upcoming integration of USDC into the Sui Network have further fueled the positive momentum, driving the SUI token's price to new highs. Currently, the SUI token is trading at $1.3, marking a 13% increase in the past 24 hours.
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