Late last night, the official Sui X channel announced that it broke $900 million in total value locked (TVL). This achievement propels Sui to the number 8 spot out of all networks in TVL rankings.
Sui’s native token, SUI, also had a great week, with its price pumping by 50%. The network’s growth has been nothing short of impressive, with Sui’s TVL skyrocketing over 3,200% in just one year. Total Value Locked (TVL) is calculated by summing up the value of all assets staked or locked in a DeFi platform.
Sui’s total value locked has reached an impressive $900.97 million, solidifying its position among the top blockchain networks. A big portion of this locked value, $402.86 million, is in stablecoins, indicating their crucial role in Sui’s DeFi ecosystem. The network has also seen robust trading activity, with a 24-hour volume of $62.07 million.
The SUI token is currently priced at $1.58, contributing to a market capitalization of $4.234 billion. This figure represents the overall valuation of the circulating supply of SUI tokens. Looking at the broader picture, Sui’s fully diluted valuation (FDV) stands at $15.799 billion, which reflects the network’s potential value if all possible tokens were in circulation.
Sui’s rapid ascent in the blockchain arena is evident from these metrics. The substantial increase in TVL over the past year demonstrates growing confidence in the network’s capabilities and potential.
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