- According to on-chain data presented by a DeFi protocol monitoring platform, Sui
currently ranks 13th across blockchains worldwide.
- According to data revealed by DeFiLlama, the token reflects recent platform successes by surpassing $300 million, just 48 hours after crossing $250 million.
- While Bitcoin’s TVL stands at 292.2 million dollars today, slightly down from yesterday’s 295.63 million dollars, this decline seems to contradict market sentiments post ETF approval.
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Community Excitement as Sui TVL Surpasses Bitcoin TVL: SUI Token Price Gains Strength on January 15!
Sui Surpasses Bitcoin TVL
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SUI triggered a series of speculations on the broader crypto market with a significant achievement on Monday, showcasing on-chain data indicating the token surpassing Bitcoin in Total Value Locked (TVL). According to on-chain data presented by a DeFi protocol monitoring platform, Sui currently ranks 13th across blockchains worldwide. This seems to have led to significant market optimism for the native token of the decentralized blockchain, which is also reflected in today’s price increase.
Meanwhile, it appears to be slowly aligning with a gradual decrease in Bitcoin’s TVL price after the recent dramatic drop post-ETF approval. Additionally, the TVL of the token also shows a slight decline in line with the market downturn of the token. According to on-chain data presented by DeFiLlama, Sui surpassed Bitcoin’s TVL on January 14th. Moreover, in parallel with Sui’s rise in the market yesterday, today’s charts seem to depict a significant increase.
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Particularly, according to data revealed by DeFiLlama, the token surpassed $300 million just 48 hours after crossing $250 million, reflecting recent successes of the platform. The integration of the Solend protocol on Suilend soon, according to a series of social media posts on Sui’s account, is expected to further boost this momentum. Additionally, the TVL of the token is grabbing global attention, equating to a striking $334.94 million as of today.
However, Bitcoin’s TVL stands at 292.2 million dollars today, slightly down from yesterday’s 295.63 million dollars. Interestingly, this decline contradicts market sentiments post ETF approval. Nevertheless, the TVL, in line with the token’s post-approval price decline, helps maintain Sui’s position on the TVL list, indicating a significant difference in ranks. The total value of digital assets locked or processed on Sui’s blockchain surpasses that of Bitcoin, showcasing clear confidence and trust among crypto market traders in the SUI token. In parallel, as indicated by today’s price charts, SUI seems to be heading towards a price rally.
Sui Price Rising
At the time of writing, Sui price has shown a massive increase of 11.38% in the last 24 hours and is currently trading at $1,436. Additionally, it recorded an 82.16% increase in price throughout the past week, sparking significant curiosity among crypto market traders and investors.