Sui, focused on scalability, is stealing the spotlight in DeFi
Sui is stealing the show. The native SUI of the layer 1 network surged 70% last week, reaching $3.75. However, it is worth noting that SUI is still 80% below its all-time high (ATH) of over $5.60 reached about four months ago.
Through "parallel transaction execution," Sui's mission to be as scalable as possible has garnered increasing attention among decentralized finance (DeFi) users (Coinspeaker).
Sui-based DEXs recorded a 177% increase in volume over the past seven days. The total value locked (TVL) in Sui during the same period rose by 38%, reaching $1.64 billion, according to DefiLlama.
SUI is the thirteenth largest digital asset on CoinGecko's list of the largest coins by market capitalization. The market capitalization of SUI approaches $12 billion, just behind Wrapped Bitcoin (WBTC), ranked 12th, with $12.1 billion. SUI had gained 23% in the last 24 hours, as of 7:45 AM (EST).
Regarding Bitcoin, Ethereum, XRP, and the rest of the Big Ten cryptocurrencies, it turns out there has been a slight uptick amidst a whirlwind of unresolved mysteries related to tariffs.
BTC is once again hovering around $94,000. BTC, ETH, and XRP recorded gains of 2% in the last 24 hours. The total cryptocurrency market capitalization has once again surpassed $3 trillion.
