The burgeoning world of Decentralized Finance (DeFi) has witnessed a rollercoaster ride for newcomer Sui, a Layer 1 blockchain designed to scale DeFi applications. After a stellar start to 2024, Sui’s Total Value Locked (TVL) – a metric reflecting the total value of crypto assets deposited in its DeFi protocols – surged to a record $724 million in late March. However, this celebratory moment proved fleeting, as the platform has since experienced a downward trend. Related Reading: Don’t Miss The Boat! Ethereum Whales Signal Bullish Run With $40 Million Bet SUI TVL Takes A Tumble Despite the recent decline, Sui’s TVL currently sits at a healthy $654 million, according to DeFiLlama. This translates to a 12% drop from its peak, showcasing a correction following its initial surge. However, it’s important to note that Sui remains in a positive light compared to some established players. SUI TVL. Source: Defillama Silver Linings For Sui While the recent dip might raise concerns, Sui boasts a more optimistic outlook when considering a broader timeframe. Compared to its New Year’s Day value, the current TVL re ..
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