$SUI

The total locked value (TVL) of the public chain Sui surpassed $2 billion on January 7, 2025, setting a new historical high. This achievement came just three months after it first reached $1 billion. Sui's growth is mainly attributed to the following factors:

1. Launch of new products: Sui recently launched new products such as stablecoins, wallets, and lending protocols, which greatly propelled the development of its ecosystem. For instance, Sui's average annualized yield (APY) in stablecoin lending protocols reached 7.09%, higher than Ethereum and Solana.

2. Support from industry giants: Support from large financial institutions such as Grayscale, VanEck, and Franklin Templeton has provided significant momentum for Sui. The investments and trust from these institutions have increased market confidence in Sui, attracting more capital inflow.

3. Expansion of the DeFi ecosystem: Sui's decentralized finance (DeFi) ecosystem has rapidly expanded over the past year, with several DeFi protocols' TVL exceeding $100 million. For example, NAVI Protocol is the largest lending platform on Sui, with its TVL reaching $400 million by September 2024.

4. Technical advantages and market opportunities: Sui's technical architecture and market positioning have also strongly supported its growth. Sui is based on the Move programming language and supports parallel transaction execution, giving it an edge in handling a large volume of transactions. Additionally, the increasing market demand for emerging public chains has provided a favorable development environment for Sui.