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Sui crypto saw a significant rise in Q3 2024, with its price increasing by 116.8% Year-to-Date (YTD), making it stand out.
According to CryptoRank, the Sui outperformed Bittensor (TAO), which recorded a 111.3% YTD increase in the blockchain category. Earlier, Techopedia reported that September was also a strong month for TAO.
Sui Overtakes Base in Net Flows for the Day
On September 30th, the Sui emerged as the leader in net flows, surpassing all other chains.
According to Artemis data, Sui Network’s net flows surged to $10.3 million on that day, surpassing Base’s record of $8.6 million.
Unlocking of Sui Tokens Worth Over $110M
On October 1, 64.19 million SUI tokens were unlocked, with a value of around $114 million, according to Token Unlocks. Earlier, we discussed how the token’s value was rising amid anticipation of this significant unlocking event.
The Price of Sui Grew by 135% in September
September turned out to be a bullish month for Sui. According to CoinGecko data, the token’s price was $0.78 on September 1. By September 8, it had nearly reached $1, stopping at $0.98.
On September 12, the Sui’s price crossed the $1 mark, a key psychological resistance level. On September 20, the token further surged to $1.55.
In the last week of September, Sui continued its rally. On September 29th, the token hit $1.84, marking an all-time high (ATH) for the month.
TVL of Sui Grows to $1B
Moreover, the Sui’s popularity in decentralized finance (DeFi) is increasing rapidly. On September 29th, the Total Value Locked (TVL) of the chain reached $1 billion.
Despite this, Sui leads the rest of the top 10 chains in DeFi in terms of TVL growth for September.
According to DeFiLlama data, the Sui’s total value locked grew by 69.25%. The Base blockchain ranks second in TVL growth with a 47.89% increase.
