Sui Network's Total Chain Lockup Surpasses $500 Million

Sui Network has announced that it has surpassed $500 million in Total Volume Locked (TVL) on its chain. This milestone was reached in less than 9 months, particularly in the last 5 months of 2023 when TVL grew 15x and in January 2024 when it more than doubled. Additionally, Sui Network's on-chain activity has grown considerably, with DeFi transaction volume surging by ~70% to over $770 million last week, placing Sui in the top 5 most active blockchains.