Blockchain Sui manages to surpass Aptos and Cardano in locked value

The layer-1 Sui blockchain, built by former Meta (META) employees, saw an impressive surge in inflows in February. Recent growth has catapulted the network to surpass the Cardano (ADA), Near Protocol (NEAR), and Aptos (APT) blockchains in total value locked (TVL).

The SUI community has seen rapid growth in recent months, with many users excited about the coin’s potential.

According to data shared by the DefiLlama platform, the SUI network currently has more than $607.21 million in capital locked in various decentralized finance (DeFI) protocols. The amount that was recently observed is equivalent to more than double the total recorded during the turn of the year, when the blockchain had US$211 million.

According to the survey released by the tracking platform wormholescan.io, in the last 30 days, US$ 310 million was transferred from Ethereum (ETH) to the Sui network.

At the time of publication, the price of Sui was quoted at US$1.77, up 0.9% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$236,080,477. The token showed quite considerable growth in the month. In the last 30 days, the SUI cryptocurrency has recorded a price increase of 63.1%.

What is Sui Crypto?

SUI is a relatively new cryptocurrency that has caught the attention of many investors. The crypto SUI project allows for easy application development. However, what sets SUI apart from other coins is its high-latency, high-throughput layer-1 blockchain, which makes it an ideal candidate for on-chain use cases like DeFi and GameFi.

The SUI blockchain is programmed in Rust, a programming language focused on fast and secure transaction execution. Furthermore, SUI is a proof-of-stake coin, which means users can earn more SUI simply by keeping the coin in their wallet. This has attracted many investors looking for a way to make money with cryptocurrencies without having to spend a lot of time and effort.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.