- Sui Network reached an all-time high of US$5.35 on January 7, 2025, achieving a market cap of US$15.3B and becoming the 12th largest cryptocurrency.
- The network’s DeFi ecosystem reached a record US$2B in TVL.
- Sui attributed its success to increased adoption of decentralised applications (dApps), as well as to support from stablecoin issuers and wallets.
Sui Network (SUI) is solidifying its position as one of the top layer-1s in the crypto ecosystem.
The coin, now boasting a market capitalisation of approximately US$15.3B (AU$24.5B), reached an all-time high of US$5.35 (AU$8.57), on Jan. 7th at around 3:15 AM Australian Time, making it the 12th largest cryptocurrency.
On January 1, 2025, the network unlocked approximately 82 million SUI, representing 0.82% of its total supply. This controlled unlocking event boosted liquidity without overwhelming the market, contributing to the cryptocurrency’s price appreciation.
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The recent price surge aligns with Sui Network’s expanding ecosystem. Its decentralised finance (DeFi) ecosystem has reached a total value locked (TVL) of US$2B (AU$3.2B). This is another all-time high for the protocol.
The project attributed this growth to the growing interest in all kinds of decentralised applications (dApps) and integrations from stablecoin issues, wallets, and lending protocols. It also thanked partnerships with major financial institutions like VanEck, Grayscale, and Franklin Templeton, as part of the bullish momentum.
While the Sui journey is still just beginning – we want to be sure to give a special shout out to the passionate, energetic Sui community for helping fuel these milestones.
Sui NetworkThe Real Solana Killer?
Sui Network has become one of the hottest topics in the crypto market, especially for its high-speed throughput and scalability, offering users a fast and smooth user experience while offering developers a powerful environment to build and work on dApps.
Sui operates on a Delegated Proof-of-Stake (DPoS) consensus mechanism, where validators are selected to confirm transactions and generate new blocks. Validator voting power is proportional to the amount of SUI tokens they hold, like other blockchain networks.
But the real magic begins on the more complex technical stack. For instance, Sui integrates zero-knowledge proofs (ZKPs) using Groth16, a zk-SNARK variant that enhances user privacy and transaction security.
This integration is implemented within its Move programming language, enabling efficient proof generation and verification while supporting the network’s high-speed operations.
Related: Solana Devs Claim New Quantum-Resistant Vault Shields Crypto from Future Threats
The design allows Sui to process large transaction volumes (the team claims it can reach over 300,000 transactions per second) while maintaining robust security. Without a doubt, Sui has become a fierce competitor to Solana, but other layer-1s like Aptos are also becoming quite popular, so the battle for the best non-EVM layer-1 is barely starting.
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