Sui Network Breaks $1 Billion in TVL In Less Than 2 Years! SUI Price Pumps

SUI Network has hit a new milestone, as announced on their official page on Sunday, 29th September. According to the blockchain, the network has now

Sui Network has hit a new milestone with $1 billion in total value locked, which has been achieved in less than two years of operating on its mainnet. This achievement is being celebrated by the Sui community on social media.

Total Value Locked (TVL) is used to describe the total worth of digital assets that are being staked or locked within a decentralized system. This could also increase users’ trust in an ecosystem, as higher TVL could mean investors see the platform as trustworthy.

This SUI success has been attributed to the community for their engagement and support, the various projects that have partnered with SUI during this period, and the numerous builders and developers in the ecosystem.

The SUI team also believes that the network is growing strong as the community continues to expand.

Sui Network (SUI) Price AnalysisThis achievement also comes as the SUI price continues to perform well in the market. One top crypto analyst has highlighted SUI’s strength and how close it is to hitting its all-time high.

According to Quinten, Co-founder of @WeRate_official, SUI is now 25% away from its all-time high as it tries to break one last resistance before attempting to reach the ATH. The analyst also added that SUI has been one of the strongest altcoins in the past few months and his SUI holdings have almost doubled since he bought the token.

The price of SUI has been rising since the beginning of September, having more than 130% increase since then with little to no retracement, showing the strength of the ecosystem. The increase in total value locked could also demonstrate investors’ trust in the ecosystem, and this could continue to help prices in the long run.