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SUI has risen approximately 185% within the year, driven by its DeFi ecosystem and the growth of the stablecoin market

SUI has risen approximately 185% within the year, driven by its DeFi ecosystem and the growth of the stablecoin market

Bitget2024/10/15 04:46

SUI has risen about 185% so far this year, hitting a record high. Analysts point out that several factors have contributed to Sui's development, including the expansion of its DeFi ecosystem and the growing stablecoin market. According to data from DeFillama, Sui's on-chain DEX weekly trading volume increased by about 50%, reaching $1.45 billion, with a current TVL of $1.182 billion. With the help of Meme coin craze and USDC launching on the network, Sui has entered the top ten blockchains in terms of TVL ranking. Observers also noted that institutional interest in Sui has driven up its token price, such as Grayscale previously launching a Sui investment trust fund.

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