Sui Network Topped the Net Inflows Chart, Surpassed the Inflows on Solana in the Past Two Days

As of September 30th, Sui Network has reached most of the net inflows compared to other chains. Over the period of 1 day, the total net inflow of Sui Network is 6.8M.

Sui Network (SUI) is showing the highest net inflows among major blockchains, with a total net inflow of 6.8 million SUI (around $20.4 million at current prices) in the past 24 hours.

This is followed by Ethereum, which had a total net inflow of 4.9 million ETH (around $7.4 billion) in the same period. Solana, on the other hand, had a net outflow of 100,000 SOL (around $3.1 million) over the past 24 hours.

The net inflows into Sui Network are mainly driven by inflows from Ethereum, which stood at 600,000 SUI (around $1.8 million) at the time of writing.

Meanwhile, outflows from Sui Network were observed towards Binance, which stood at 100,000 SUI (around $300,000).

Overall, Sui Network had total inflows of 1.03 million SUI (around $30.9 million) and outflows of 350,000 SUI (around $10.5 million) in the past 24 hours.

As covered earlier by Finbold, Sui Network experienced a rapid surge in its total value locked (TVL) throughout September, which surpassed the 1 billion SUI (around $3 billion) mark.

This development was primarily driven by lending protocols and the entry of stablecoins into the network, with the network’s TVL expanding more than 100% in the past two weeks.

According to the latest data from DeFiLlama, SUI’s TVL now stands at 1.24 billion SUI (around $3.7 billion), indicating an addition of around 240 million SUI (roughly $720 million) in the past 24 hours.

Notably, the network’s value locked has been driven by top protocols, such as Navi, which had 742,334,093 SUI (around $2.2 billion) locked in its lending markets.

Stablecoins on the network also reached a supply of 417.4 million SUI (around $1.2 billion), forming a key part of the ecosystem for lending, liquid staking, and decentralized exchanges (DEX).

Moreover, SUI’s total value locked expanded more rapidly in the past two weeks. The network broke above 1 billion SUI in TVL in September, around two years since the launch of the main net.

Concluding the report, the network is closely watched during the 2024 cycle for its potential to repeat the success of Solana.