{"id":602210,"date":"2024-04-09T13:00:59","date_gmt":"2024-04-09T13:00:59","guid":{"rendered":"https:\/\/uniquehot.com\/?p=602210"},"modified":"2024-06-11T07:23:49","modified_gmt":"2024-06-11T07:23:49","slug":"sui-slips-after-hitting-all-time-high-tvl-tumbles-12-token-price-in-the-gutter","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/sui-slips-after-hitting-all-time-high-tvl-tumbles-12-token-price-in-the-gutter\/","title":{"rendered":"SUI Slips After Hitting All-Time High: TVL Tumbles 12% – Token Price In The Gutter?"},"content":{"rendered":"

The burgeoning world of Decentralized Finance (DeFi) has witnessed a rollercoaster ride for newcomer Sui, a Layer 1 blockchain designed to scale DeFi applications. After a stellar start to 2024, Sui’s Total Value Locked (TVL) \u2013 a metric reflecting the total value of crypto assets deposited in its DeFi protocols \u2013 surged to a record $724 million in late March. However, this celebratory moment proved fleeting, as the platform has since experienced a downward trend.<\/p>\n

Related Reading: Don\u2019t Miss The Boat! Ethereum Whales Signal Bullish Run With $40 Million Bet<\/a><\/div>\n

SUI TVL Takes A Tumble<\/strong><\/h2>\n

Despite the recent decline, Sui’s TVL currently sits at a healthy $654<\/a> million, according to DeFiLlama. This translates to a 12% drop from its peak, showcasing a correction following its initial surge. However, it’s important to note that Sui remains in a positive light compared to some established players.<\/p>\n

\"\"SUI TVL. Source: Defillama<\/a><\/pre>\n
Silver Linings For Sui<\/strong><\/h2>\n
While the recent dip might raise concerns, Sui boasts a more optimistic outlook when considering a broader timeframe. Compared to its New Year’s Day value, the current TVL represents a significant 25.5% increase.<\/p>\n
This upward trajectory extends further back, with a staggering 68% growth since the beginning of the year. This impressive background performance fuels optimism for Sui’s potential to regain its momentum, potentially propelling it towards a coveted spot amongst the top 10 DeFi chains.<\/p>\n
<\/p>\n
Total crypto market cap is currently at $2.571 trillion. Chart: TradingView<\/a><\/pre>\n
SUI Token Mirrors Market Trends<\/strong><\/h3>\n
The price of Sui’s native token (SUI) reflects a similar pattern to its TVL. Currently trading at $1.65<\/a>, SUI has shed nearly 30% of its value compared to its all-time high of $2.20 reached in late March. Despite the recent slump, SUI has managed a modest 2% daily increase. However, zooming out reveals a 11% loss over the past week.<\/p>\n
\"\"<\/p>\n
SUI price action in the last week. Source: CoinMarketCap.<\/a><\/pre>\n
<\/div>\n
Can Sui Recover its DeFi Mojo?<\/strong><\/h3>\n
Regaining the lost TVL will be a key test for Sui’s development team. Identifying the reasons behind the user exodus is essential. Were there any security concerns or technical glitches that caused users to pull their funds? Transparency and addressing these issues head-on will be critical for rebuilding user confidence.<\/p>\n
Related Reading: Filecoin Bull Run On The Horizon? Analyst Sees 250% Surge<\/a><\/p>\n
Building A Thriving DEX Ecosystem Is Vital<\/strong><\/h3>\n
Meanwhile, a vibrant DEX ecosystem is another pillar for Sui’s future. Decentralized Exchanges allow users to trade cryptocurrencies directly with each other, without the need for a centralized intermediary.<\/p>\n
Fostering a healthy DEX landscape will attract more users and liquidity to the Sui blockchain, ultimately boosting its TVL. Enticing established DEX protocols to migrate to Sui or supporting the development of native DEX solutions could be effective strategies.<\/p>\n
Featured image from Pixabay, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The burgeoning world of Decentralized Finance (DeFi) has witnessed a rollercoaster ride for newcomer Sui, a Layer 1 blockchain designed to scale DeFi applications. After a stellar start to 2024, Sui’s Total Value Locked (TVL) \u2013 a metric reflecting the total value of crypto assets deposited in its DeFi protocols \u2013 surged to a record $724 million in late March. However, this celebratory moment proved fleeting, as the platform has since experienced a downward trend. Related Reading: Don\u2019t Miss The Boat! Ethereum Whales Signal Bullish Run With $40 Million Bet SUI TVL Takes A Tumble Despite the recent decline, Sui’s TVL currently sits at a healthy $654 million, according to DeFiLlama. This translates to a 12% drop from its peak, showcasing a correction following its initial surge. However, it’s important to note that Sui remains in a positive light compared to some established players. SUI TVL. Source: Defillama Silver Linings For Sui While the recent dip might raise concerns, Sui boasts a more optimistic outlook when considering a broader timeframe. Compared to its New Year’s Day value, the current TVL represents a significant 25.5% increase. This upward trajectory extends further back, with a staggering 68% growth since the beginning of the year. This impressive background performance fuels optimism for Sui’s potential to regain its momentum, potentially propelling it towards a coveted spot amongst the top 10 DeFi chains. Total crypto market cap is currently at $2.571 trillion. Chart: TradingView SUI Token Mirrors Market Trends The price of Sui’s native token (SUI) reflects a similar pattern to its TVL. Currently trading at $1.65, SUI has shed nearly 30% of its value compared to its all-time high of $2.20 reached in late March. Despite the recent slump, SUI has managed a modest 2% daily increase. However, zooming out reveals a 11% loss over the past week. SUI price action in the last week. Source: CoinMarketCap. Can Sui Recover its DeFi Mojo? Regaining the lost TVL will be a key test for Sui’s development team. Identifying the reasons behind the user exodus is essential. Were there any security concerns or technical glitches that caused users to pull their funds? Transparency and addressing these issues head-on will be critical for rebuilding user confidence. Related Reading: Filecoin Bull Run On The Horizon? Analyst Sees 250% Surge Building A Thriving DEX Ecosystem Is Vital Meanwhile, a vibrant DEX ecosystem is another pillar for Sui’s future. Decentralized Exchanges allow users to trade cryptocurrencies directly with each other, without the need for a centralized intermediary. Fostering a healthy DEX landscape will attract more users and liquidity to the Sui blockchain, ultimately boosting its TVL. Enticing established DEX protocols to migrate to Sui or supporting the development of native DEX solutions could be effective strategies. Featured image from Pixabay, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":602232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,1020,54512,4735,3505,87261],"class_list":["post-602210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-blockchain","tag-defi","tag-price-action","tag-price-analysis","tag-sui"],"acf":[],"yoast_head":"\nSUI Slips After Hitting All-Time High: TVL Tumbles 12%<\/title>\n<meta name=\"description\" content=\"The burgeoning world of Decentralized Finance (DeFi) has witnessed a rollercoaster ride for newcomer Sui, a Layer 1 blockchain designed to scale DeFi\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"SUI Slips After Hitting All-Time High: TVL Tumbles 12% – Token Price In The Gutter?","url":"http:\/\/uniquehot.com\/news\/sui-slips-after-hitting-all-time-high-tvl-tumbles-12-token-price-in-the-gutter\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/sui-slips-after-hitting-all-time-high-tvl-tumbles-12-token-price-in-the-gutter\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_1acd09.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_1acd09.jpg?fit=640%2C428"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","blockchain","defi","price action","price analysis","sui"],"dateCreated":"2024-04-09T13:00:59Z","datePublished":"2024-04-09T13:00:59Z","dateModified":"2024-06-11T07:23:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"SUI Slips After Hitting All-Time High: TVL Tumbles 12% – Token Price In The Gutter?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/sui-slips-after-hitting-all-time-high-tvl-tumbles-12-token-price-in-the-gutter\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/sui-slips-after-hitting-all-time-high-tvl-tumbles-12-token-price-in-the-gutter\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_1acd09.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_1acd09.jpg?fit=640%2C428\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"blockchain\",\"defi\",\"price action\",\"price analysis\",\"sui\"],\"dateCreated\":\"2024-04-09T13:00:59Z\",\"datePublished\":\"2024-04-09T13:00:59Z\",\"dateModified\":\"2024-06-11T07:23:49Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_1acd09.jpg?fit=640%2C428","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/602210"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=602210"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/602210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/602232"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=602210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=602210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=602210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}