Rapid Rise of Sui: Over 1,000% TVL Growth in Four Months

Rapid Rise of Sui: Over 1,000% TVL Growth in Four Months



Sui, a Layer 1 blockchain developed by the team behind Meta's Diem crypto project, has rapidly risen to prominence in the decentralized finance (DeFi) sector. Launched less than a year ago, Sui recently entered the top 10 DeFi rankings on Tuesday, according to the project. The blockchain has seen its total value locked (TVL) soar by over 1,000% in just four months.



This impressive growth has propelled Sui past long-established players like Bitcoin and Cardano, and even Coinbase's Layer-2 project, Base. With over $430 million in cryptocurrencies deposited in its DeFi protocols, Sui claimed the spot as the 10th largest blockchain in terms of TVL, although it has since dropped to the 11th position, just behind PulseChina, as per DeFi Llama's data.



Greg Siourounis, the managing director of the Sui Foundation, expressed his


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