Sui TVL Reaches $1 Billion Milestone with USDC Integration

Sui TVL Rises to Cross $1 Billion Threshold

After locking more value in its ecosystem than well-known protocols like Optimism and Polygon, the leading Layer-1 blockchain Sui developed by the group behind Meta’s Diem cryptocurrency project is currently the eighth largest chain according to TVL. The Sui DeFi ecosystem, which includes decentralized exchanges like Cetus and Aftermath and the network’s top lending protocols like NAVI, Scallop Lend, and Suilend, is being strengthened by the growing demand indicated by this most recent accomplishment.

Sui is the fastest-growing DeFi ecosystem and it’s thriving! In the past year, Sui has attracted an influx of builders whom Sui has enabled to create applications that they simply can’t build on any other blockchain.

Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs

Sui Joins Top 10 DEX Networks with $400M in Stablecoins and Expanding Use Cases

Sui has expanded quickly in several domains after going live on the mainnet. Recently, Sui and Circle revealed that they had joined an exclusive shortlist of non-EVM chains to natively support the USDC stablecoin and its Cross-Chain Transfer Protocol (CCTP) on the network. Sui has over $400 million in stablecoins and ranks among the top 10 in weekly DEX trade volume.

Sui, a safe and scalable platform for creating the intelligent assets of the future, has already established itself as a top choice for developers of games, DeFi, meme coins, and practical applications like tokenized securities and 3D printing. Moreover, Mysten Labs introduced the SuiPlay0X1 handheld gaming device in September. It allows players to own their own assets natively on Sui and gain access to special in-game incentives, setting a new benchmark in the Web3 and traditional gaming sectors.

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