{"id":38347,"date":"2024-09-24T20:34:27","date_gmt":"2024-09-24T20:34:27","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sui-price-surges-as-tvl-hits-1-3-billion\/"},"modified":"2024-09-24T20:34:27","modified_gmt":"2024-09-24T20:34:27","slug":"sui-price-surges-as-tvl-hits-1-3-billion","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sui-price-surges-as-tvl-hits-1-3-billion\/","title":{"rendered":"SUI price surges as TVL hits $1.3 billion"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/sui-token-symbol-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/sui-token-symbol-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/sui-token-symbol-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/sui-token-symbol-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Sui has seen a more than 44% spike in price in the past week and 65% in 30 days.<\/li>\n<li>Gains come after the Grayscale Sui Trust opened for accredited investors.<\/li>\n<li>The SUI network\u2019s total value locked has surpassed $1.34 billion.<\/li>\n<\/ul>\n<p>SUI price has surged by more than 44% in the past week to trade above $1.67. The gains include a more than 65% spike in the past 30 days. This sees the native token of the layer 1 blockchain platform reach highs last seen in early April.<\/p>\n<h2>What catalyzed SUI price surge?<\/h2>\n<p>Sui has experienced a notable surge in volume after Grayscale <a href=\"https:\/\/coinjournal.net\/news\/grayscale-introduces-grayscale-sui-trust-boosting-sui-price\/\">announced<\/a> its Sui Trust was now open to accredited investors.<\/p>\n<p>Daily volume for SUI skyrocketed after the news, and price followed, hitting levels above $1.<\/p>\n<figure id=\"attachment_232646\" aria-describedby=\"caption-attachment-232646\" class=\"wp-caption alignnone\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"wp-image-232646 size-full\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/09\/sui-price-coinmarketcap.png\" alt=\"\" width=\"1200\" height=\"800\"\/><figcaption id=\"caption-attachment-232646\" class=\"wp-caption-text\">SUI price on CoinMarketCap<\/figcaption><\/figure>\n<p>Sui\u2019s price rally to above $1.67 has also coincided with a sharp increase in total value locked in various decentralized finance protocols in the Sui ecosystem. OKX Ventures <a href=\"https:\/\/x.com\/OKX_Ventures\/status\/1838595869110865987\" target=\"_blank\" rel=\"noopener\">pointed<\/a> to the Grayscale Sui Trust\u2019s boost to SUI market credibility as institutional interest emerged.<\/p>\n<h2>Sui TVL hits $1.3 billion<\/h2>\n<p>The bullish sentiment around this outlook is showing in the on-chain activity that has the TVL hitting $1.34 billion.<\/p>\n<p>According to <a href=\"https:\/\/defillama.com\/chain\/Sui\" target=\"_blank\" rel=\"noopener\">DeFiLlama<\/a>, Sui\u2019s TVL rose from about $250 million at the start of 2024 to cross $1 billion in May. However, it dropped to $462 million on Aug. 5 amid the cryptocurrency market crash that pushed Bitcoin price below $50k.<\/p>\n<p>Notable though is the spike back to $1 billion and acceleration to $1.34 billion in less than a month. It means a more than 377% spike year-to-date and 47% month-to-date.<\/p>\n<p>Sui\u2019s growing DeFi ecosystem that\u2019s behind this surge include increased adoption for protocols across lending, decentralized exchanges, real-world assets, derivatives and yield.<\/p>\n<p>Navi Protocol has seen its TVL increase 34% month-to-date to over $449 million.<\/p>\n<p>Lending protocols Scallop and Suilend have respective TVL readings of $246 million and $203 million. It represents a 34% and 100% MTD spike respectively.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/sui-price-surges-as-tvl-hits-1-3-billion\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Sui has seen a more than 44% spike in price in the past week and 65% in 30 days. Gains come after the Grayscale Sui Trust opened for accredited investors. The SUI network\u2019s total value locked has surpassed $1.34 billion. SUI [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":38348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/38347"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=38347"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/38347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/38348"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=38347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=38347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=38347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}