Sui Challenges Top 10 Spot as TVL Surges Past $418M

Sui’s native token, SUI, has experienced a remarkable nearly 350% increase over the past three months.

Hand touching SUI chip releasing all the golden coins.
Created by Kornelija Poderskytė from DailyCoin
  • Sui’s Total Value Locked briefly secured a spot in the top 10 before experiencing a dip.
  • The chain has surpassed Bitcoin, Base, and Cardano. 
  • SUI has picked up major gains over the past months.

The Layer 1 blockchain and smart contract platform Sui has been riding on a high momentum over the past months, recording new milestones and price upticks. On January 27, the chain surpassed prominent chains, including Bitcoin, Base, and Cardano, briefly securing the 10th position by Total Value Locked (TVL).

However, the celebration was short-lived as the blockchain was subsequently displaced. Nonetheless, Sui’s rapid growth rate hints at a potential imminent recovery.

Sui Sets Sights On Top 10 Rebound

According to DefiLlama, the decentralized finance analytics platform, the Sui blockchain currently holds the 11th position in Total Value Locked, reaching $418.81 million.

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Sui trails behind Pulsechain by a $12 million difference, which occupies the tenth spot at $430.27 million. 

Sui's native token, SUI, has experienced a remarkable nearly 350% increase over the past three months.
Source: DefiLlama

This marks Sui’s second non-Ethereum Virtual Machine (EVM) chain position. Sui commands a 9.2% dominance, surpassed by Solana, which presently holds $1.485 billion.

Investors are bullish on Sui’s potential to surpass Pulsechain for a position on the top 10 chart, particularly considering its performance over the past months.

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Sui’s native token, SUI, has experienced a remarkable nearly 350% increase over the past three months, now trading at $1.46 compared to its previous range of $0.3 to $0.4.

Bitcoin ETFs imminent in Hong Kong? Read here to find out more:
Hong Kong’s First Bitcoin ETF Proposal Sparks Approval Hope 

To find out more about Sui’s price performance, read here:
Sui Scorches Past Bitcoin in TVL Amidst Triple-Digit Upswing 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.