Sui, the pioneering Layer 1 blockchain and smart contract platform created by the technology team that emerged from Meta’s Diem Blockchain project, has accelerated beyond expectations in just over six months since its mainnet launch, surpassing $150 million in Total Value Locked (TVL) according to leading DeFi aggregator DefiLlama.
This key milestone, which currently places Sui within the top 20 blockchains in TVL, signifies a growing DeFi ecosystem backed by a deep pool of developer talent and a community that is strengthening by the day.
In addition to its TVL trajectory, which is up over 500% since the start of September, the Sui Network has surged past $100 million in bridged stablecoins. Sui has also surpassed Bitcoin in total historical on-chain transaction count, affirming its capacity for scalability and efficiency, and underscoring the blockchain’s ability to facilitate seamless, secure, and lightning-fast transactions.
The ability to process a high volume of transactions while maintaining peak network performance has supported this DeFi growth, as Sui recently set a new record for the most transactions processed in a single day by any blockchain ever.