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SUI Network Surpasses $700 Million TVL Within 1 Year of Mainnet Launch

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SUI Network Surpasses $700 Million TVL Within 1 Year of Mainnet Launch

Sui Network has achieved a new milestone today reaching a whopping $700M in Total value Locked. The most astonishing thing about this milestone is that Sui has done thin in less than a year from the launch of its mainnet. Sui has achieved this milestone with continuous development. Recently, Sui was declared the 2024 Blockchain Solution during the AIBC Eurasia awards.

📢BREAKING: Sui has surpassed $700,000,000 in Total Value Locked (TVL), achieving this momentous milestone in under 11 months since Mainnet launch.

Data via @blockvisionhq’s

— Sui (@SuiNetwork) March 27, 2024

$SUI Witnesses 31% Price Growth in March 2024

Despite bearing some hurdles in the last quarter of 2023, $SUI has picked up momentum in 2023, especially in March. As the crypto market is entering a new bull cycle, SUI is also gearing up for some astonishing gains. From its starting point of $1.6 on March 1, SUI has risen impressively to $2.16 by March 27. This amounts to a 31% increase since the start of this month.

Despite severe market turbulence after mid-March, the SUI coin has displayed full potential which is usually supported by its new developments in very short intervals. An example of such developments is the announcement of the Greek Stock Exchange (ATHEX) to integrate its electronic book building into Sui’s blockchain ecosystem. This integration was a collaboration between ATHEX and Mysten Labs and proves the importance of Sui’s adoption in the real world.

$SUI Remains in Top-3 Gainers

In today’s session, sui remained among the top 3 performers. As per our BlockchainReporter analysis, SUI is now in a high volatility range but it is expected to maintain today’s high of $2.16 and its overall upward momentum. At the moment it is in a strong resistance area. After the upcoming Bitcoin ($BTC) halving, SUI is expected to cross $3 mark soon.