SUI is up about 185% this year, driven by its DeFi ecosystem and stablecoin market growth

Odaily News Data shows that SUI has risen about 185% so far this year and hit a record high. Analysis pointed out that several factors have contributed to Sui's development, including the expansion of its DeFi ecosystem and the growing stablecoin market. According to DeFillama data, Sui's on-chain DEX weekly trading volume increased by about 50% to US$1.45 billion, and the current TVL is US$1.182 billion. With the help of the Meme coin craze and the launch of USDC on the network, Sui has entered the top ten blockchains in terms of TVL. Observers also pointed out that institutional interest in Sui has driven the rise of its tokens, such as Grayscale's previous launch of the Sui Investment Trust. (CryptoSlate)