Key Takeaways
- Sui Community’s TVL surged to $810.5 million, a 283% enhance year-to-date.
- SUI token value elevated by over 30% previously week, now buying and selling at $1.3.
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The full worth locked (TVL) on the Sui Community surged to a document of $810.5 million on September 19, in accordance with knowledge from DefiLlama. The SUI token additionally reported main beneficial properties, rising over 30% within the final seven days, CoinGecko’s knowledge reveals.
The expansion comes regardless of earlier TVL fluctuations throughout broader market corrections, with a year-to-date enhance of roughly 283% from about $211 million.
TVL, indicative of the quantity deposited into DeFi protocols for actions akin to lending and derivatives, highlights rising curiosity in Sui’s choices.
All three main DeFi protocols on the Sui blockchain have seen beneficial properties over the previous week. The TVL of the NAVI Protocol, a lending protocol on the Sui Community, elevated by 16.5% to $310 million.
The Scallop Lend lending protocol achieved a TVL of $140.5 million, representing a rise of roughly 19.5% weekly, whereas Suilend noticed a weekly enhance of 14.5% with over $134 million in TVL.
Along with the TVL document, Sui has notched one other achievement as its SUI token has been among the many top-performing crypto belongings within the final seven days. It has outperformed well-liked memecoins like PEPE and Aptos (APT) when it comes to market capitalization and buying and selling exercise.
The SUI token climbed from $0.6 to $1.04 following the launch of the Grayscale Sui Belief. The optimistic momentum was later fueled by the announcement of Circle’s upcoming integration of USDC into the Sui Community, which despatched the value hovering to a brand new excessive of $1.18.
SUI is now buying and selling at $1.3, up over 13% previously 24 hours.
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