Layer-1 (L1) blockchain Sui Network (SUI) managed to become one of the top 10 decentralized finance (DeFi) blockchains in a short time.
According to on-chain data, Sui Network is less than 1 year after its token launch. among the top 10 DeFi blockchains entry. Total assets locked (TVL) value on the network in the last four months More than 1,000% increase showed.
According to data provided by DeFiLlama, although Sui Network has recently fallen to 11th place in terms of TVL, it is only ahead of its closest rival, Manta (MANTA). $20 million There is a difference. Currently Sui Network Ranked 11th with a TVL of $447 millionIf Manta $461 million TVL with 10th place positioning.
Making a statement on the subject, the general manager of the Sui Foundation Greg Siourounisemphasized that technology and community are behind this rapid success:
This momentum validates both the technology and dedication of the Sui community. Most importantly, what we see in these numbers is that developers at Sui are building products that people use to address real-world challenges. This dynamic will form the basis of a sustainable decentralized network that extends into the future.
According to CoinGecko data, in the last 24 hours 3.4% SUI, which is on the rise at the time of writing from $1.60is being processed.