Sui Token Surges In TVL, Surpassing $418 Million And User Engagement Spike

Token Terminal’s latest report highlights Sui’s remarkable performance as its Total Value Locked (TVL) surpasses $418 million, securing its position among the top 10 cryptocurrencies. 

Within just 30 days, Sui has witnessed an impressive 86% surge in TVL, reflecting growing investor confidence and participation.

The platform boasted an average of over 20,000 active users daily over the past month, peaking at approximately 80,000, with more than 8 million active accounts overall. In terms of gas usage, SUI recorded over $1.5 million in gas fees in the last 30 days, with gas prices stabilizing at 4.8k per day.

Reports indicate an average of 61.13 core developers and 420 code commits within the same period, highlighting the project’s robust development activity and commitment to enhancing its ecosystem.

Notable Spike In Derivatives Volume, As SUI Token Records Over 35% Increase

On the eco-project front, Deifilama’s data reveals significant growth in derivatives volume, soaring to 124 million, marking a 100% increase in the past month. The aggregator volume also surged to 1.17 million. Sui’s eco protocols now span across 25 categories, including lending and derivatives, showcasing the ecosystem’s diversification and expansion.

The cryptocurrency’s bullish trajectory indicates a positive outlook for the future, with November 2023 marking a pivotal turning point in its price direction. Over the past three months, Sui has delivered exceptional returns, boasting a remarkable 230% gain for investors and traders alike.

In the previous seven intraday sessions alone, SUI cryptocurrency has surged by approximately 35%, further solidifying its position as a lucrative investment option in the digital asset space. As Sui continues to attract users and expand its ecosystem, its potential for sustained growth remains promising in the ever-evolving cryptocurrency landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: itchaznong/123RF // Image Effects by Colorcinch

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