SUI has risen by about 185% this year, driven by the growth of its DeFi ecosystem and stablecoin market

ChainCatcher news shows that SUI has risen approximately 185% year-to-date and reached an all-time high. Analysts point out that several factors have contributed to this development of Sui, including the expansion of its DeFi ecosystem and the growing stablecoin market.

According to data from DeFillama, the weekly trading volume on Sui's DEX has increased by about 50%, reaching $1.45 billion, with a current TVL of $1.182 billion. With the meme coin craze and the launch of USDC on the network, Sui has entered the top ten blockchains by TVL.

Observers also noted that institutional interest in Sui has driven up its token, such as Grayscale's previous launch of the Sui investment trust.