SUI is up about 185% this year, driven by its DeFi ecosystem and stablecoin market growth
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Odaily Planet Daily Report data shows that SUI has risen about 185% so far this year, setting a new historical high. The analysis points out that there are several factors that have contributed to Sui's development, including the expansion of its DeFi ecosystem and the growing stablecoin market. According to defillama data, the weekly trading volume of Sui's on-chain DEX has grown by about 50%, reaching $1.45 billion, with a current TVL of $1.182 billion. Driven by the meme coin craze and the launch of USDC on the network, Sui has entered the top ten blockchains by TVL. Observers also pointed out that institutional interest in Sui has driven the rise of its token, such as Grayscale's previous launch of a Sui investment trust fund. (CryptoSlate)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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