SUI Price Notches 75% in 30-Day Rally Amid Soaring TVL

• The SUI token has recorded significant price gains since the start of the year.
• Sui has secured a position among the top ten blockchains by TVL.
• The ecosystem is also experiencing a surge in on-chain activity.

Sui, the smart contract platform and Layer-1 blockchain solution focused on digital asset ownership, has witnessed an impressive start to the year, sustaining a bullish momentum and propelling its token price to new heights.

In another milestone, the substantial increase in Sui’s Total Value Locked has reached a new all-time high, coinciding with a surge in price over the past month.

SUI Price Rockets, Eyes New ATH

The native token of the Sui ecosystem, SUI, has maintained an upward trajectory over the last 30 days, recording a double-digit upswing increase in its price.

SUI has doubled its year-start trading value range of $0.77 to $0.80, currently trading at $1.54. This reflects a 75% surge in the past 30 days, a 10% increase in one week, and a 4% rise in the last 24 hours.

The rising SUI tide mirrors the performance of its blockchain, which has also recorded an impressive surge. 

Sui Lands 9th Position in TVL 

Over the past months, the value of cryptocurrencies deposited in the Sui DeFi protocol has significantly soared, outperforming notable blockchains including Bitcoin, Cardano, and Base.

According to decentralized finance analytics platform DefiLlama, the Sui blockchain has hit $500.89 million in Total Value Locked, marking its position as ninth among the top-ten largest blockchains. 

📢BREAKING: Sui has now reached $500,000,000 in Total Value Locked (TVL), achieving this momentous milestone in under 9 months❗️

TVL saw 15x growth over the last five months of 2023. In January, it more than doubled, via @DefiLlama and @blockvisionhq. pic.twitter.com/Q5l8W9rWTB

— Sui (@SuiNetwork) February 4, 2024

This marks a 150% increase from its year start value at $200 million, and an approximate 1350% increase over the last six months. 

Sui’s on-chain activity is also experiencing a notable boom. In the past week, the blockchain secured a spot among the top five most active chains, recording iober 700% in weekly DeFi volume.

Read more about Sui’s performance and road to top ten blockchain:
Sui Challenges Top 10 Spot as TVL Surges Past $418M

To find out more about the ongoing efforts to combat the SEC’s ‘no-crypto’ stance, read here:
SEC, Gensler Face Criticism Over Crypto Custody Overstep