SUI Token Explodes 68% Amidst DeFi Boom, TVL Surpasses $1.6 Billion

SUI token has seen explosive growth over the past week, surging an impressive 68% following a surge in Decentralized Finance (DeFi) activity on the Sui blockchain. This growth is evident in a significant rise in Total Value Locked (TVL), reaching $1.645 billion – one of the largest spikes in Layer 1 ecosystems this month. The DEX volume has also skyrocketed, hitting $599 million, a 177% increase compared to the initial levels.