Crypto News – In an unexpected turn of events, Sui has reached a ground-breaking milestone. Sui has surpassed all previous highs since its Mainnet launch in May, with a total value locked (TVL) of $36.82 million.
Sui TVL’s Tremendous Raise of $36.82 Million
The rapid expansion of Turbos Finance, NAVI Protocol, and the sizeable contributions of Cetus are the driving forces behind Sui TVL. An amazing 152% growth in TVL was seen over the previous week at Turbos Finance, a highly effective decentralized cryptocurrency marketplace built on Sui. Sui’s recent success has been largely attributed to Turbos Finance, as this rise makes clear.
How Did the NAVI Protocol and Cetus Impact TVL Growth?
The over-collateralized loan and borrowing company NAVI Protocol, which focuses on assets like SUI, had a significant increase in TVL of 93.29% over the past 30 days. The NAVI Protocol’s functionality in the Sui environment shows how crucial it is.
On the other hand, one-third of the entire $36.66 million in TVL is accounted for by Cetus, a pioneer DEX and concentrated liquidity protocol inside the Sui ecosystem. The different needs of traders, liquidity providers, applications, and the expanding DeFi community are all met by Cetus, which has $12.1 million in TVL.
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