TL;DR
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Unstoppable Token Growth: Sui has seen a 350% increase in its native token, reaching $1.46 in just three months, standing out in the market.
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Brief Assault on the Top 10: The project temporarily achieved the tenth position on TVL, surpassing Bitcoin and others, on January 27, marking a milestone in its rise in the DeFi ecosystem.
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Optimism in Competition: Despite losing the position, close competition with Pulsechain and robust growth rate support investor confidence in the ability to quickly regain its place in the DeFi top 10.
In the last three months, Sui, the Layer 1 blockchain and smart contracts platform, has seen a staggering 350% increase in its native token, SUI.
This exceptional performance has led to briefly reach the coveted #10 spot on Total Value Locked (TVL), surpassing heavyweights such as Bitcoin, Base, and Cardano on January 27.
Although the celebration was short-lived, with the token losing its position, its rapid growth rate suggests a possible imminent recovery.
According to DefiLlama, the decentralized finance analytics platform, Sui currently ranks 11th in TVL, with $418.81 million.
Although it trails Pulsechain by $12 million, the close competition indicates the potential to regain its position in the top 10.
Sui’s dominance in his current position is 9.2%, although he is surpassed by Solana
Investors are optimistic about Sui’s ability to overtake Pulsechain and secure a spot in the top 10, given its outstanding performance in recent months.
DefiLlama information also reveals that the project is linked to 25 protocols in the decentralized finance ecosystem.
Furthermore, the positive change of 1.92% in the last 24 hours, along with significant increases of 27.80% and 102% in the last week and the last month, respectively, highlights the dynamics and constant growth of the project.
Sui’s Total Value Locked stands at $418.59 million, demonstrating a solid asset base within the platform.
Additionally, $5.78 million in stablecoins and a trading volume of $65.7 million are reported in the last 24 hours, indicating significant trading activity.
Sui emerges as a rising DeFi platform, challenging the top 10 with an exceptional rise in its token and a strong market position.
Despite the brief loss of its position, Sui’s competitiveness, backed by strong data from DefiLlama, suggests a promising future as it seeks to regain its place among the leaders of the decentralized finance industry.
