According to Coincu, Sui, a Layer 1 blockchain and smart contract platform developed by the technology team from Meta's Diem Blockchain project, has exceeded expectations since its mainnet launch six months ago. The platform has now surpassed $150 million in Total Value Locked (TVL), as reported by leading DeFi aggregator DefiLlama. This milestone places Sui within the top 20 blockchains in TVL and signifies a growing DeFi ecosystem supported by a strong developer community.
Sui's TVL trajectory has increased by over 500% since September, and the network has also surpassed $100 million in bridged stablecoins. Additionally, Sui has exceeded Bitcoin in total historical on-chain transaction count, demonstrating its scalability and efficiency. The platform's ability to process a high volume of transactions while maintaining peak network performance has contributed to its DeFi growth, as Sui recently set a new record for the most transactions processed in a single day by any blockchain.
The rapid growth of Sui is further supported by a network of independent DeFi projects that add value and utility for the community. For instance, Cetus, a leading DEX and concentrated liquidity protocol within the Sui ecosystem, recently surpassed $1 billion in total transaction volume. Sui's builders are also prioritizing global relationships and collaborations, as evidenced by a recent partnership with technology incubator Hub71. Based in Abu Dhabi, Hub71 supports over 260 startups and has committed to introducing UAE-based startups to the Sui ecosystem. Sui's rise in the industry positions it as a growing force in the Web3 space, with its object-centric model and unparalleled scalability offering potential for mass adoption.
