Layer 1 blockchain Sui becomes 8th largest by Total Value Locked, driven by USDC integration and thriving DeFi ecosystem.
Sui, the high-performance Layer 1 blockchain, has reached a major milestone by surpassing $1 billion in Total Value Locked (TVL). According to DeFiLlama data, the network has experienced an impressive 2700% growth in TVL over the past year, propelling it ahead of established competitors such as Polygon and Optimism.
Growth Driven by DeFi and USDC Integration
A key factor in Sui’s rapid growth has been its integration with the USDC stablecoin, making it one of the few non-EVM chains to natively support the token. This integration, along with Sui’s participation in Circle’s Cross-Chain Transfer Protocol (CCTP), has helped the blockchain attract over $400 million in stablecoins and secure a place in the top 10 for weekly DEX trading volumes.
Strengthening the Sui DeFi Ecosystem
Sui’s expanding ecosystem includes leading DeFi platforms such as NAVI, Suilend, and Scallop Lend, as well as decentralised exchanges like Cetus and Aftermath. The platform’s public goods, including its innovative DeepBook central limit order book, have played a pivotal role in attracting developers and investors to the network.
A Bright Future for Sui
Since its mainnet launch, Sui has established itself as a go-to platform for developers building decentralised applications in sectors ranging from gaming to tokenized securities. Mysten Labs, the team behind Sui and the creators of Meta’s Diem project, recently announced the launch of the SuiPlay0X1 handheld gaming device, further cementing the network’s presence in both the Web3 and traditional gaming industries.
With its robust developer ecosystem and growing adoption, Sui is positioned as one of the fastest-growing DeFi ecosystems in the blockchain space.
