According to DefiLlama, the total value locked (TVL) on the Sui network rose to a record high of $810.5 million on September 19. The SUI token also reported significant growth, increasing by more than 30% in the past seven days, CoinGecko data shows.
The growth comes despite TVL’s previous fluctuations during broader market corrections, with year-to-date growth of approximately 283% from approximately $211 million.
TVL, which shows the amount deposited into DeFi protocols for activities such as lending and derivatives, highlights the growing interest in Sui’s offerings.
All three leading DeFi protocols on the Sui blockchain have seen growth over the past week. TVL of NAVI protocol, a lending protocol on the Sui network, increased by 16.5% to $310 million.
Lending protocol Scallop Lend achieved a TVL of US$140.5 million, representing approximately 19.5% weekly growth, while Suilend saw 14.5% weekly growth with over US$134 million in TVL .
In addition to the TVL record, Sui achieved another achievement: its SUI token was among the best-performing crypto assets over the past seven days. It has surpassed popular memecoins such as PEPE and Aptos (APT) in terms of market capitalization and trading activity.
The SUI token rose from $0.6 to $1.04 after the launch of the Grayscale Sui Trust. The positive momentum was later reinforced by Circle’s announcement of the upcoming integration of USDC into the Sui network, causing the price to surge to a new high of $1.18.
SUI is currently trading at $1.3, up 13% in the last 24 hours.
