The Sui blockchain’s native token, $SUI, has seen a remarkable surge of 60% over the past week. Data from Lookonchain highlights this impressive rise, attributing it to growing on-chain activity and increased investor interest. The analytics provider took to social media to reveal their bullish outlook for $SUI. 💰 The token’s price increase has been fueled by a significant surge in Total Value Locked (TVL), which jumped by 38% over the past week to reach a new high of $1.645 billion. This rapid growth indicates increased confidence in the DeFi protocols running on the Sui network. 🤝 The TVL increase is further backed by a notable rise in user engagement, with DEX trading volume surging 177%, and the stablecoin value increasing from $482 million to $879 million (an impressive 82% jump). 🚀 This surge signals a strong potential for Sui’s DeFi sector to take off. The network’s efforts to establish itself as a leading player in smart contract and DeFi are clearly paying off.