SUI Surges: $310 mn Ethereum Bridge Fuels TVL Takeover
Sui, a Layer 1 blockchain platform, has seen a significant increase in inflows, surpassing competitors like Cardano, NEAR, and Aptos in total value locked (TVL).
The network, developed by ex-Meta staff, has exceeded $593 million in decentralized finance (DeFi) protocols, a twofold increase from its year-start figure of $211 million.
Sui has regained momentum and stability through inscription-related activities, allowing for the recording of arbitrary data without the need for smart contracts.
On December 22, Sui generated 13.8 million blocks and reached 6,000 transactions per second (TPS), contrasting Ethereum’s high traffic typically leading to increased gas fees.
Sui’s robust infrastructure and low transaction costs have boosted developers and investors’ confidence.
(With inputs from Shikha Singh)
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