SUI Surges 28% in 7 Days Despite Slowing TVL Growth

• SUI has continued to mount steady gains.
• The token’s price performance aligns with the broader market momentum.
• Sui has lost its position among the top 10  TVL.

Over the past months, SUI, the native token of the smart contract platform and Layer-1 blockchain solution Sui, has had an impressive run, doubling its year-start trading price and recording new milestones. However, like many, the broader industry volatility has tested the token’s resilience, triggering price fluctuations.   

Despite this, SUI has continued to notch gains, experiencing an impressive uptick over the past week.

SUI Price Inches Up 

According to the trading price of SUI on Friday, March 22, the token has shed most of its gains over the past 24 hours. At press time, it was worth $1.79, down approximately 8.9% from its day-high price of $1.902.

However, despite its decline, SUI’s current trading price brings its total gains over the past seven days to a healthy 23%, which marks its position as one of the impressive gainers of the week.

SUI’s price also marks an approximate 143% increase from its year-start trading range of $0.70 to $0.8, highlighting its bullish momentum and fueling optimism for the token’s potential to regain its all-time trading price of $2.16. 

The volatility in native token price is not isolated. It coincides with the sluggish trend of the blockchain’s TVL, which experienced an impressive uptick earlier in the year.

Sui’s TVL Slows Down, Loses TOP 10 Spot

Per the decentralized finance analytics platform DefiLlama today, Sui holds the 12th position among chains by Total Value Locked (TVL).

While its present $626 million value represents a 213% increase from its year-start value of $200 million, it underscores a slowing momentum from its previous growth peak, which secured its 9th position on the chart in February 2024.

Now surpassing Sui are layer-2 chains Optimism and Base, now holding the 9th and 10th positions with $946 million and $785 million locked, respectively.

Find out more about SUI’s performance during the Bitcoin-led rally:

SUI Struggles to Reclaim ATH as It Relinquishes Rally Gains

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