Powered by Mysten Labs SUIhas taken a remarkable step forward, surpassing Bitcoin in terms of total assets locked on the network. According to on-chain data, the project currently ranks 13th among all chains globally. This seems to have created tremendous optimism in the market for the decentralized blockchain’s native token, and the jump in its price today reflects this.
Post-Bitcoin ETF approval TVL is moving in tandem with the decline in price. In addition, the token’s TVL also decreased marginally in line with the token’s decline in the market.
According to DefiLlama data, Sui token managed to surpass Bitcoin’s TVL yesterday. Moreover, following Sui’s upward momentum in the market yesterday, today’s charts are bullish.
The token reflected the success of the platform by exceeding the $300 million mark just 48 hours after exceeding $250 million. According to Sui’s shares, the upcoming integration of the Solend protocol into Suilend further increases this momentum. Additionally, the token has attracted significant interest, with its TVL reaching $334.94 million as of today.
However, Bitcoin’s TVL decreased from $295.63 million yesterday to $292.2 million today. Interestingly, this decline contrasts with the market sentiment following ETF approval.
Sui price is trading at $1.40, showing a remarkable increase of 11.38% in the last 24 hours. The price attracted attention with an increase of 82.16% last week.