The Sui blockchain witnessed a significant surge in decentralized exchange (DEX) trading volume in the first quarter of 2025. Data shows that DEX trading volume on Sui reached $34.3 million, representing a 14.5% increase compared to the previous quarter. This growth was largely fueled by Cetus Protocol and Bluefin, two prominent DEX platforms contributing significantly to the volume surge. Following a substantial relaunch after a $260 million hack last year, Cetus re-entered the top 10 global DEX rankings, highlighting the blockchain’s resilience and recovery. Notably, 21Shares recently filed for a Sui-based exchange-traded fund (ETF), signifying increasing institutional interest in the platform.
**DEX Trading Volume Dynamics:** The growth can be attributed to Cetus and Bluefin, which play significant roles in driving DEX volume. Following a major incident, Cetus re-established its position within the top 10 DEXs globally. This surge indicates confidence in the Sui blockchain’s ability to compete with established players.
**Sui’s DeFi Ecosystem:** The Sui ecosystem is witnessing significant growth within the decentralized finance (DeFi) sector, fueled by attractive yield-generating lending protocols and high stablecoin transfer volumes surpassing those on Solana. These indicators suggest a promising future for the blockchain in the DeFi space.
**Institutional Adoption:** 21Shares filing for a Sui-based ETF underscores the growing confidence of financial institutions in the platform. This move may contribute to increased market depth and credibility among investors, further validating Sui’s potential for expansion.