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Comprehensive Analysis of the Current Status of the Sui Ecosystem: TVL, Activity Level, and Development Suggestions
Analysis of the Current Situation of the Sui Ecosystem
Since the mainnet launch of Sui nearly a month ago, as a representative public chain based on the Move language and a highly anticipated Non-EVM Layer 1 public chain, its ecological development has garnered widespread attention. This article will objectively analyze the current ecological status of Sui from multiple perspectives.
On-chain fundamentals
Asset Liquidity
Currently, the TVL on the Sui chain is approximately $19 million, with a peak of $36 million. Among this, DEX Cetus accounts for over 65%, followed by Turbos. More than 60% of the TVL consists of stablecoins.
The trading volume exceeded 32 million USD in 7 days, ranking 20th among all public chains, mainly from Cetus.
On-chain activity
The total number of transactions on the 7th was approximately 1.13 million, with a total of over 8.3 million Objects, 22,000 daily active addresses, and 570,000 total active addresses.
Recently, the activity level has shown a downward trend, mainly fluctuating with several important project IDOs and DeFi activities.
$SUI liquidity
The circulating supply of $SUI is approximately 528 million, with a staking amount of 7.29 billion. However, the actual on-chain liquidity is insufficient, and most of the circulating supply may still be on centralized exchanges.
Currently, the annualized yield for $SUI staking is less than 6%, lacking appeal for investors. At the same time, there is no LST solution available, which prevents it from being used as collateral to leverage higher returns.
Cross-Chain Bridge
Currently, only Wormhole is available, supporting cross-chain for 7 chains. Due to technical reasons, stablecoin cross-chain data has not been made public.
Ecological Development Situation
main applications
Infrastructure
Wallet:
Activity Platform:
Suggestions
Lower the threshold for verification nodes and launch a liquid staking scheme.
Increase the number and types of cross-chain bridges
Support for native stablecoin projects
Accelerate the development and integration of mobile wallets
Improve data visualization, enhance browsers and data analysis tools
Give developers more room for innovation, avoiding excessive centralization.
The Sui ecosystem is still in its early stages, and the infrastructure needs improvement. Through the above measures, on-chain liquidity and activity can be enhanced, attracting more developers and users, and promoting the healthy development of the ecosystem.