Sui's Remarkable Growth Driven By DeFi Expansion And Stablecoin Market

According to Odaily, Sui has experienced a significant rise of approximately 185% this year, reaching an all-time high. Analysts attribute this growth to several factors, including the expansion of its DeFi ecosystem and the increasing stablecoin market. Data from DeFillama indicates that the weekly trading volume on Sui's decentralized exchanges (DEX) has surged by about 50%, reaching $1.45 billion, with the current total value locked (TVL) standing at $1.182 billion. The popularity of meme coins and the introduction of USDC on the network have also contributed to Sui's ascent into the top ten blockchains by TVL. Observers have noted that institutional interest in Sui has further propelled its token's rise, exemplified by Grayscale's recent launch of a Sui investment trust fund.