SUI TVL Exceeds $1.7 Billion Amid Rivalry Between Lending Platforms – What’s Next for SUI
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The total value locked (TVL) in Sui recently reached an all-time high.
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Sui’s native token price also set a new record recently.
Sui Network’s decentralized finance (DeFi) platform [SUI] has achieved a notable milestone in its total value locked (TVL).
This growth in TVL signifies the rising adoption and investment within SUI’s ecosystem, with lending platforms such as Suilend and NAVI Lending making substantial contributions.
Examining SUI’s market position among lending platforms
The entries on AskFX’s TVL chart showcase SUI’s remarkable development over the past year. Starting from modest beginnings, it has progressively surged upwards, indicating heightened activity.
Data obtained from DefiLlama illustrated that the TVL amount stood at $1.79 billion at the time of reporting. Further examination indicated that it peaked at an unprecedented $1.8 billion on December 12th.
Source: DefiLlama.
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This notable achievement results from the expansion of lending platforms like Suilend and NAVI Lending, which have secured significant market share. These platforms account for 58% of all assets locked within the network. As of now, Suilend boasts a TVL of $552.5 million while NAVI holds a TVL of $491.23 million.
A spike in trading volume confirms high activity levels.
An analysis of trading volumes for T & V revealed a correlation between volume and total value locked.
At present, trading volume is around $168 million.
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Additional insights indicated that peak trading volume occurred on December 12 when it hit $551 million coinciding with an ATH in total value locked.
SUI is poised to consolidate after its recent surge.
p > Momentum loss observed for SUI h2 > The price trajectory for SUI has aligned with advancements within DeFi ecosystems, highlighting this growth curve.
As noted at press time,
SUI was selling for $4.38 which indicates persistent bullish sentiment.
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