Sui Achieves Record TVL Numbers

Sui Achieves Record TVL Numbers


Sui Network Achieves New TVL Milestone

Sui Network recently hit a new all-time high (ATH) in total value locked (TVL) assets, reaching $160.2 million, as reported by Dropstab. TVL represents the total amount of assets locked in blockchain smart contracts. According to the infographic, Cetus Protocol maintains its lead among third-party network projects with a 30.2% share and a TVL of $48.4 million.

The data from DeFiLlama was used to compile the infographic, but it appears that Dropstab did not account for the assets in certain protocols, such as Aftermath Finance and Sui Pearl, affecting the accuracy of the TVL figures.

Source: Dropstab

Additionally, the SUI token experienced a significant price drop in October, falling to $0.36 from its ATH of 82.4%. The negative trend has continued, particularly after news of South Korean authorities’ interest in the Sui Foundation.

Shortly before this, the Sui Foundation retracted 117 million SUI Tokens from external market makers to support the network’s development and growth initiatives without affecting the circulating supply.

Source: DeFiLlama

Hot Take: Sui Network’s TVL Growth and Token Price Movement

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Sui Network’s achievement of a new ATH in TVL demonstrates its progress, though discrepancies in reported figures raise questions about the accuracy of the data. The recent price drop of the SUI token following the South Korean authorities’ interest has raised concerns among investors. However, the Sui Foundation’s strategic decision to reposition resources to support the network’s growth initiatives shows a commitment to long-term development. These developments highlight both the potential of Sui Network and the challenges it faces in the evolving crypto landscape.

Sui Achieves Record TVL Numbers
Author – Contributor at Lolacoin.org | Website

Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension. An unwavering beacon for both seasoned adventurers and neophytes in the crypto cosmos, Noah’s insights forge a compass for informed decision-making amidst the tides of ever-evolving cryptocurrencies. With an artist’s eye for precision, he crafts a distinctive narrative, enriching the vibrant tableau of the crypto landscape.

Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Latest Crypto News