Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

Grand
Cayman,
Cayman
Islands,
March
28th,
2024,
Chainwire

March
DEX
volume
on
Sui
stands
at
over
$2.88B
–
up
more
than
49%
from
February
–
with
decentralized
exchange
Cetus
and
wholesale
liquidity
layer
DeepBook
leading.

Sui,
the
fast
ascending
Layer
1
blockchain
offering
industry-leading
performance
and
infinite
scaling,
continued
to
demonstrate
its
blistering
DeFi
growth
by
cementing
its
place
in
the
top
ten
of
all
chains
by
weekly
DeFi
volume,
registering
over
$830M
of
trading
over
the
most
recent
seven
days
of
data
available
on

DeFiLlama
and
$224M
in
the
latest
24
hours.
  

The
volume
growth
comes
as
the
chain
has
amassed
several
DeFi
milestones
since
the
start
of
the
year,
including
surging
past
$700M
in
total
value
locked
(TVL)
earlier
this
week
–
up
over
1900%
since
October
–
and
dominating
outflows
from
Ethereum
via
Wormhole
during
multiple
seven-day
periods
this
year.
Sui
is
also
setting
the
standard
for
network
reliability
during
periods
of
high
network
traffic.
In
the
first
four
months
of
its
mainnet,
Sui
completed
65.8M
transactions
in
a
single
day—the
most
of
any
blockchain
ever,
while
throughout
its
existence,
the
network
has
never
had
an
outage
or
experienced
degraded
performance.
 

These
milestones
reflect
how
Sui’s
underlying
technology,
which
features
an
object-centric
model,
horizontal
scalability,
the
increasingly
popular,
developer-friendly
Move
programming
language,
and
recent
breakthroughs
such
as
zkLogin
and
zkSend,
enables
developers
to
create
products
that
solve
real-world
challenges
at
scale. 

Sui’s
technology
has
also
attracted
top
projects
and
developers
which
are
increasingly
choosing
to
build
on
Sui.
Most
recently,

Suilend,
a
protocol
developed
by
the
team
behind
Solana’s
largest
lending
protocol,
Solend,
launched
in
its
first
expansion
outside
the
Solana
ecosystem.
Ondo
Finance’s
treasury-backed
assets
also
recently
made
their
way
into
the
ecosystem,
while
decentralized
derivatives
exchange

Bluefin
left
Arbitrum
for
Sui. 

DeepBook,
Sui’s
fully
on-chain
order
book,
which
is
part
of
the
Sui
Protocol,
has
experienced
a
substantial
volume
increase
in
March
as
DeFi
on
the
network
continues
to
flourish.
The
CLOB
saw
over
$940M
in
volume
since
the
start
of
the
month,
and
over
$289M
of
trading
in
the
last
week
alone,
as
it
continues
to
provide
deep
liquidity
to
all
DeFi
protocols
and
traders
on
Sui
with
ultra-low,
predictable
transaction
costs
and
sub-second
finality.

“From
the
Move
language
to
its
object-centric
architecture,
Sui’s
technology
is
unique
in
the
industry
and
enables
a
level
of
innovation
that
is
attracting
partnerships,
protocol
expansions,
and
independent
developers—all
building
solutions
that
leverage
the
Sui
network,”
said
Greg
Siourounis,
Managing
Director
of
the
Sui
Foundation.
“Sui’s
surging
metrics
in
DeFi
indicate
definitively
that
in
an
industry
which
is
currently
surging
and
primed
for
cutting-edge
technology
and
practical,
real-world
applications,
Sui
is
increasingly
the
platform
of
choice.”

Contact

Sui
Foundation
[email protected]