Sui Joins DeFi Leaders, Topping $100M in Bridged USDC
Sui, the groundbreaking Layer 1 blockchain created by the technology experts who led Meta’s Diem blockchain initiative and created the Move smart contract language, continues its explosive ascent in decentralized finance...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Sui, the groundbreaking Layer 1 blockchain created by the technology experts who led Meta’s Diem blockchain initiative and created the Move smart contract language, continues its explosive ascent in decentralized finance (DeFi). This week, it surpassed $100 million in bridged USDC.
This latest data confirms Sui’s position among the ranks of the top DeFi protocols worldwide and builds upon its most recent milestone of surpassing $175 million in Total Value Locked (TVL). The Sui Network now consistently ranks within the top 25 blockchains for daily transaction volume and within the top 15 blockchains by weekly volume.
“Surpassing $100 million in bridged stablecoins represents yet another significant moment for Sui in DeFi, and is a clear illustration of the remarkable success of the Sui community’s efforts to build a versatile and accessible ecosystem,” said Greg Siourounis, Managing Director of the Sui Foundation. “Coupled with the Network’s recent surge in TVL, as well as performance measurements that show Sui operating at the forefront of Web3 technology, this milestone positions Sui as a force driving the next generation of DeFi.”
The network’s decentralized ecosystem and independent builders are fueling that growth, with seven projects standing at over $10 million in TVL and 11 projects exceeding the $2 million mark.
In another strategic move to fortify the security and reliability of its ecosystem, Sui last week announced an ecosystem investment with leading Web3 security firms OtterSec and Zellic — providing essential access for independent ecosystem projects to high-end auditing services and setting builders on Sui on a path to success.
Likewise, November alone saw $500,000 in a fresh round of Sui Grants issued to projects building on the Network. These grants are dedicated to project teams poised to advance the adoption of Sui and its growing DeFi ecosystem.
For more information about the Sui Network, visit sui.io.
ContactSui Foundation
[email protected]
Why this matters
This blockchain story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Brave New CoinRelated market context
USDC Treasury mints another $250 million as Solana minting streak continues
The consistent minting on Solana suggests rising institutional demand for stablecoin liquidity, potentially impacting DeFi market...
MARA Holdings moves 1,650 BTC worth $132.8 million to Galaxy Digital, Copper and others
MARA's shift from Bitcoin hoarding to AI investment may stabilize BTC markets by reducing direct exchange sales, impacting market...
Copilot AI Predicts an Explosive Q4 Move for NEAR Protocol
Something potentially significant could happen for NEAR Protocol by early 2027. Microsoft Copilot AI predicts a highly speculative...
Canton Coin Is a ‘Digital Commodity,’ SEC Staff Say in Letter Covering Network Rewards
Minting Canton Coin (CC) as network rewards without registering it under the securities laws won’t draw an SEC staff enforcement r...
Huizenga Loses House Seat Despite $1 Million From Crypto PAC Fairshake
Bitcoin Magazine Huizenga Loses House Seat Despite $1 Million From Crypto PAC Fairshake Rep. Bill Huizenga, the No. 2 Republican o...
Claude AI Predicts “Operation Meridian” for Ripple: Can XRP Really Hit $40?
Anthropic’s Claude AI predicts that, if a completely hypothetical “Operation Meridian” rolls out for Ripple, XRP USD could hit inc...