Sui Network TVL Reaches Record High of $1.378 Billion

According to BlockBeats, on October 12, data from DefiLlama revealed that the Total Value Locked (TVL) on the Sui Network has reached an all-time high of $1.378 billion. This milestone highlights the growing adoption and utilization of the Sui Network within the decentralized finance (DeFi) ecosystem. Among the notable contributors to this record, the NAVI Protocol, a lending protocol, reported a TVL of $493.65 million, marking a weekly increase of 1.41%. This growth underscores the protocol's steady performance and its role in driving the overall TVL of the Sui Network. Additionally, the lending platform Suilend achieved a TVL of $256.38 million, experiencing a significant weekly rise of 13.41%. This substantial increase reflects the platform's expanding user base and the growing trust in its lending services. Furthermore, the Scallop Lend protocol, another lending service on the Sui Network, recorded a TVL of $245.33 million, with a weekly growth rate of 2.21%. This consistent growth indicates the protocol's reliability and its contribution to the Sui Network's overall financial ecosystem.