SUI Token Jumps 6% as BTC Liquidity and $51M Fund Drive DeFi TVL to $2.2B

SUIUSDT has experienced a 6.09% price increase over the past 24 hours, currently trading at 4.0738 USDT on Binance, with a 24-hour open of 3.8400. The main drivers behind this surge include Sui’s recent milestone as the first non-EVM blockchain to enable direct BTC-backed mining, which brought over $500 million in BTC liquidity into its DeFi protocols, and the launch of new DeFi and NFT projects that have pushed total value locked to a record $2.2 billion. Additional positive sentiment stems from Sui’s monthly fee generation surpassing Ethereum’s, a significant rise in SUI futures open interest, and a $51.3 million fund announced by the Sui Foundation to support its DeFi ecosystem. Increased trading activity, with 24-hour volume between $2.79 billion and $2.89 billion, and SUI’s outperformance relative to the broader crypto market, have further contributed to the current bullish momentum.