The total value locked (TVL) has jumped by more than 1,000% in four months, catapulting the blockchain above more established incumbents such as Bitcoin and Cardano, as well as Coinbase’s layer-2, Base. The dollar value of cryptocurrencies deposited in its decentralized finance (DeFi) protocols topped $430 million, making it the 10th-largest blockchain by TVL, Sui said. As of writing, it had slipped to No. 11, behind PulseChina, DeFi Llama data show.
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