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Sui, a rising star in the cryptocurrency market, has achieved a significant milestone today, with its token price reaching a new monthly high of $1.65, as reported by TradingView. 
As of press time, SUI<a href="https://www.tradingview.com/symbols/SUIUSDT/" rel="nofollow noopener" target="_blank"> is trading</a> around $1.6, showcasing a robust 11% increase in the past 24 hours. Parallel to this price surge, the total value locked (TVL) on Sui has witnessed a dramatic 98% increase month-to-date, soaring from approximately $208 million to $436 million, according to data from DeFiLlama. 
<figure id="attachment_28517" aria-describedby="caption-attachment-28517" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-28517 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/01/SUIUSDT_2024-01-30_10-52-41.png" alt="SUI/USDT, 4-hour timeframe" width="1835" height="857" srcset="https://crypto.ro/en/wp-content/uploads/2024/01/SUIUSDT_2024-01-30_10-52-41.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/01/SUIUSDT_2024-01-30_10-52-41-300x140.png 300w, https://crypto.ro/en/wp-content/uploads/2024/01/SUIUSDT_2024-01-30_10-52-41-1024x478.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/01/SUIUSDT_2024-01-30_10-52-41-768x359.png 768w, https://crypto.ro/en/wp-content/uploads/2024/01/SUIUSDT_2024-01-30_10-52-41-750x350.png 750w, https://crypto.ro/en/wp-content/uploads/2024/01/SUIUSDT_2024-01-30_10-52-41-1140x532.png 1140w" sizes="(max-width: 1835px) 100vw, 1835px" title="Sui soars 15% to $1.65, TVL skyrockets 98% to $436 million in remarkable growth 20">
 <figcaption id="caption-attachment-28517" class="wp-caption-text">
 SUI/USDT, 4-hour timeframe
 </figcaption>
</figure> 
<a href="https://defillama.com/chain/Sui" rel="nofollow noopener" target="_blank">This surge in TVL</a> has propelled Sui past two major competitors in the market: Coinbase’s Base and Cardano. Base has experienced a 9.5% downturn, with its TVL dropping to around $397 million, while Cardano has seen a nearly 15% decline, falling to $340 million over the last month. 
The growth of Sui’s ecosystem is attributed to recent strategic partnerships with prominent entities, notably Alibaba Cloud and Solend. 
Mysten Labs, the innovative team behind Sui, announced a significant partnership with Alibaba Cloud. This collaboration is set to provide more resources for developers using the Move programming language, a move expected to enrich the Sui ecosystem further. 
In addition, Solend, a lending and borrowing platform originally on the Solana network, expanded its operations to the Sui network last month, indicating growing confidence in Sui’s potential. 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 Solend is expanding to Sui with the launch of a new project, <a href="https://twitter.com/suilendprotocol?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@suilendprotocol</a>! 
 Solend is and will always be the most trusted place to lend and borrow on Solana. 
 Soon, Suilend will be the most trusted place to lend and borrow on Sui! <a href="https://t.co/0Kj66QpTT5" rel="nofollow" target="_blank">https://t.co/0Kj66QpTT5</a> 
 — Solend (@solendprotocol) <a href="https://twitter.com/solendprotocol/status/1737537938765094936?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">December 20, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The Sui Foundation is also contributing to the ecosystem’s growth by encouraging projects to integrate with Sui. The foundation employs infrastructure-friendly tokenomics, utilizing SUI tokens to incentivize both projects and users within the network. This approach has proven effective in fostering a vibrant and active community around Sui. 
In terms of market capitalization, <a href="http://crypto.ro/en/cryptocurrencies/sui">Sui</a> has seen a significant uptick, with its market cap reaching approximately $1.5 billion, an increase of over 80% in the past month, as per Token Terminal’s statistics.

Sui soars 15% to $1.65, TVL skyrockets 98% to $436 million in remarkable growth

crypto.ro global

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