This article explores the Sui ecosystem's current landscape through metrics, applications, and key events.
Sui Chain Fundamentals
1. Total Asset Liquidity
TVL:
Sui’s current Total Value Locked (TVL) stands at $19.02M**, down from its peak of **$36M last month. Over 65% of TVL is concentrated in the decentralized exchange Cetus, followed by Turbos. Stablecoins (USDT/USDC) dominate liquidity pools, comprising 60%+ of TVL.
Trading Volume:
Sui’s 7-day trading volume is $32.37M, ranking 20th among all chains. Most transactions occur on Cetus.
2. On-Chain Activity
7-Day Metrics:
- Total transactions: 1,129,884
- Total objects (smart contracts, tokens, NFTs): 8.3M+
- Daily active addresses: 22,000
- Total active addresses: 570,000
📉 Trend: Activity has declined recently, correlating with key events:
- May 10: Cetus IDO
- May 12: Turbos IDO
- May 15: Suia IDO
- May 19: Cetus meme token airdrop
3. $SUI Liquidity Dynamics
- Circulating supply: 528M $SUI
- Staked $SUI: 7.29B (72.9B delegated to 104 validators).
- Despite a **$500M+** market cap, most $SUI remains unstaked, concentrated in CEXs (e.g., OKX, Binance).
Challenge: Low staking yields (~6% APY) and lack of Liquid Staking Tokens (LSTs) deter DeFi participation.
Sui Ecosystem Breakdown
1. Key Players
- DEX: Cetus (65%+ TVL dominance)
- Yield Aggregator: Mole ($180K TVL, supports leveraged farming)
- NFT Marketplaces: Souffl3 (0% royalties), Clutchy (hosts Fuddies NFT)
- GameFi: Abyss World (ARPG, built on Polygon but settles on Sui)
2. Traffic Gateways
Wallets:
- Browser: Sui Wallet, Suiet, Martian, OKX Wallet
- Mobile: Glass, BitKeep
Platforms:
- Port3: Multi-chain task rewards
- Suia: Social NFT platform
Recommendations for Sui’s Growth
- Lower Validator Barriers: Reduce 30M $SUI staking minimum and introduce LSTs.
- Expand Cross-Chain Bridges: Beyond Wormhole, integrate more bridges (e.g., Portal Bridge).
- Launch Native Stablecoin: Critical for liquidity and DeFi scalability.
- Prioritize Mobile Wallets: Improve iOS/Android wallet support.
- Enhance Data Analytics: Upgrade Suiscan/SuiVision for real-time metrics.
- Encourage Developer Freedom: Avoid over-centralized "meta-narratives" to foster innovation.
FAQs
Q: Why is Sui’s TVL lower than expected?
A: Low staking yields and lack of LSTs limit DeFi participation.
Q: Which projects drive Sui’s activity?
A: Cetus (DEX), Fuddies (NFT), and Abyss World (GameFi) are key.
Q: How can Sui improve liquidity?
A: Native stablecoins, LSTs, and cross-chain bridges are urgent needs.
👉 Discover Sui’s latest updates
Data sources: DeFillama, Artemis, Sui Explorer.