USDC Integration Drives Sui Network’s Total Value Locked Higher

• Sui Network’s TVL has surged to an all-time high of $897.61 million.
• SUI token’s price rose 61.83% in the past 30 days.
• NAVI Protocol is the top protocol on Sui and NAVX surged 94.19% in the past week.

Sui Network (SUI), a layer-1 blockchain network that is relatively new to the digital asset space, has witnessed a massive growth in its total value locked (TVL) recently, recording a new all-time high (ATH) amid a recovering crypto market. 

According to the data from DefiLlama, the TVL of the L1 network rose to a massive $897.61 million, making a new all-time high from a spike in interest and developer activity. The blockchain boasts a stablecoin market cap of $408.78 million, with NAVI Protocol, a modular DeFi platform offering crypto lending services, leads the pack.

NAVI’s TVL jumped a remarkable 34.31% in the past week, including a 7.22% rise in the last 24 hours. The protocol’s native token, NAVX, also saw a massive 94.19% increase in the past week, outperforming most cryptocurrencies, according to CoinMarketCap data.

The surge in SUI’s TVL can likely be traced back to the recent announcement from USDC issuer Circle, confirming the integration o…

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