In less than two months since launching native USDC, the SUI network has surpassed the $100 million mark for this stablecoin, showcasing rapid growth within its DeFi ecosystem. According to DeFiLlama, USDC accounts for 72.23% of the total stablecoin value on SUI, with the overall stablecoin market cap reaching $388.03 million—a significant increase from under $6 million in January 2024.
The network’s total value locked (TVL) has surged from $211 million at the beginning of 2024 to a record high of $1.11 billion in the past 24 hours. Additionally, the number of daily active addresses skyrocketed from 30,000 to a peak of 2.5 million by the end of May, although it has recently dipped to 800,000.
With strong demand and increasing utility, SUI is poised to potentially set new highs in the near future.