Grand Cayman, Cayman Islands, October 1st, 2024, Chainwire
The Move-based protocol becomes the 8th largest blockchain by Total Value Locked, amid USDC integration and thriving developer ecosystem
Sui, the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling, has crossed the $1B mark in Total Value Locked (TVL), based on publicly available data from DeFiLlama. Leveraging the network’s public goods, like its innovative central limit order book, DeepBook, Sui’s TVL has grown over 2700% over the past twelve months.
Data from DefLlama shows the rapid advance of Sui’s DeFi TVL
The leading Layer-1 blockchain that was created by the team that led Meta's Diem crypto project is now the 8th largest chain as measured by TVL, after locking more value in its ecosystem than established protocols such as Polygon, and Optimism. This latest achievement signals a burgeoning demand that is strengthening the entire Sui DeFi ecosystem including leading lending protocols on the network, NAVI, Suilend and Scallop Lend and decentralized exchanges, Cetus and Aftermath.
With over $400 million in stablecoins and a top 10 ranking in weekly DEX trading volume, Sui recently announced with Circle that it joined an exclusive shortlist of non-EVM chains to natively support the USDC stablecoin and its Cross-Chain Transfer Protocol (CCTP) on the network.
“Sui is the fastest-growing DeFi ecosystem and it’s thriving!” said Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs, which developed the Sui Network. “In the past year, Sui has attracted an influx of builders whom Sui has enabled to create applications that they simply can’t build on any other blockchain.”
Since its mainnet launch, Sui has been rapidly growing its presence in a number of areas. As a secure and scalable platform for building the future of intelligent assets, Sui has already become a premier destination for application builders in gaming, DeFi, memecoins, as well as real-world applications such as 3D printing and tokenized securities. In September, Mysten Labs unveiled its SuiPlay0X1 handheld gaming device, which sets a new standard in both the Web3 and traditional gaming industries by enabling users to own their own assets natively on Sui and access exclusive in-game rewards.
Contact
Sui Foundation media@sui.io
Disclaimer: Press release sponsored by our commercial partners.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
When introducing the BitGPT Network last year, we envisioned a decentralized ecosystem where specialized AI agents seamlessly collaborate, securely transact, and continuously self-improve—all powered by privacy-preserving inference and fine-tuning. In the months that followed, we worked more closely than ever with other developers, AI-framework leaders, and SaaS innovators than ever before. Along the way, we discovered a critical roadblock to our vision:
“Before I focus on optimizing inference o...
Singapore, Singapore, May 1st, 2025, Chainwire
Singapore, , May 1st, 2025 - LBank(lbank.com), the globally leading cryptocurrency exchange, successfully hosted 1001 Crypto Nights, one of the most anticipated side events during TOKEN2049 Dubai. The beachfront festival drew over 5,000 attendees and generated more than 100 million online impressions, setting a new benchmark for Web3 cultural experiences. Hosted by LBank in collaboration with MemeCore and Shiba Inu, and co-organized by Google Cloud...
Seoul, Republic of Korea, May 1st, 2025, Chainwire
Global Bitcoin leaders, listed companies, and innovators will gather in Seoul on June 4–6 for Bitcoin Seoul 2025 — Asia’s flagship event shaping Bitcoin’s future.
Bitcoin Seoul 2025, Asia’s largest Bitcoin-focused conference, will take place from June 4 to 6, 2025, at two of Seoul’s most iconic venues: Signiel Seoul and SKY31 Convention.
Following its successful debut in 2024, Bitcoin Seoul quickly established itself as a key fixture in the glo...
