Sui Surpasses Cardano, Near, and Aptos in Total Value Locked, Sees $310M Inflow in 30 Days

Sui blockchain has witnessed a significant surge in inflows this month, surpassing Cardano, Near, and Aptos in total value locked (TVL). Founded by former Meta employees, the network now boasts over $593 million locked across various DeFi protocols, doubling its total from the start of the year. Recent data from wormholescan.io indicates that $310 million has been bridged to Sui from Ethereum in the past 30 days alone. Despite a rocky start following its launch on Binance's launchpad last year, Sui has gained momentum, especially after implementing inscriptions, a method for recording data on the blockchain without smart contracts. Notably, on Dec. 22, Sui reached a peak of 6,000 transactions per second (TPS) and produced 13.8 million blocks, demonstrating its scalability and potential for growth.