Sui’s dramatic rise in 2025 is the result of more than just favorable market conditions. Its growth has been fueled by an effective mix of blockchain innovation, massive capital inflow into DeFi, high-profile institutional partnerships, and a thriving global developer community. These elements are not isolated. Instead, they feed into each other, creating a cycle of growth that positions Sui as one of the most promising Layer-1 blockchains in the Web3 ecosystem.
A key indicator of any blockchain’s success is its Total Value Locked (TVL)—and Sui’s numbers have been staggering. Since its start in May 2023 with just $25 million in TVL, Sui has grown exponentially, reaching $1.7 billion by May 2025 and jumping to $2.1 billion after securing a strategic partnership with Microsoft. This leap has made Sui the third-largest non-EVM chain and the eighth-largest blockchain by TVL overall, placing it ahead of more established players like Aptos, Cardano, and Polygon. These figures show not just user interest but also trust from developers and institutions who are increasingly committing long-term capital to the Sui network.
In parallel with its TVL increase, Sui has seen explosive growth in stablecoin usage. Stablecoin volume on the platform climbed from $400 million in January 2025 to $1.2 billion by May. Monthly stablecoin transfers have exceeded $70 billion, and the total stablecoin market cap has more than doubled to over $1.1 billion. This is vital because stablecoins are the foundation of decentralized finance. They provide price stability and are essential for everything from trading and lending to payments. Sui’s decentralized exchange (DEX) ecosystem also continues to thrive, with cumulative DEX volume surpassing $110 billion and daily averages hitting $250 million, occasionally spiking above $800 million. The growing presence of Bitcoin-pegged assets like wBTC and stBTC, which now make up about 10% of total value locked, is further expanding the platform’s utility and investor appeal.
The performance of Sui’s native token, SUI, has mirrored the ecosystem’s growth. From trading at $1.58 in March 2025, SUI surged past $5 before stabilizing around $2.70. The token currently enjoys a market capitalization of $9.4 billion and a fully diluted valuation of $27.7 billion. This indicates strong investor confidence and suggests that SUI is seen as more than a speculative asset. Rather, it’s increasingly viewed as a long-term value proposition tied to real utility, ecosystem development, and technological progress. Investors are betting on Sui’s future in DeFi, gaming, NFTs, and enterprise blockchain solutions.
Sui’s rise hasn’t gone unnoticed by big players. The network has secured partnerships with Microsoft, Fireblocks, and 21Shares—all respected names in the tech and financial industries. The Microsoft deal, in particular, had an immediate impact, coinciding with Sui’s TVL reaching $2.1 billion. These collaborations not only enhance Sui’s credibility but also open doors to regulated markets and institutional capital. Additional security partnerships, such as with Blockaid, show a strong focus on trust and infrastructure resilience. Meanwhile, leading exchanges like Binance, OKX, and Bybit have expanded support for SUI, offering staking and new trading features, which increases accessibility and liquidity.
A major step toward mainstream financial integration came when Canary Capital filed for a $SUI ETF with the SEC. If approved, it would be a landmark moment, opening the door for retail and institutional investors to gain exposure to SUI without directly handling crypto. This move aligns with reports suggesting that institutional flows into SUI have surpassed those into Solana, marking a shift in investor sentiment. Influential industry figures, including Charles Hoskinson, have praised Sui’s architecture and innovation, helping further build confidence and visibility. An approved ETF could spark a fresh wave of capital and push Sui closer to broader adoption.
Sui’s Move programming language has attracted a growing number of developers who value its security and efficiency over more common tools like Solidity. The Sui Foundation has played a vital role in nurturing this ecosystem, offering over $4.7 million in grants to nearly 90 projects. Beyond grants, the Foundation funds academic research, sponsors hackathons, and runs incubator programs such as the Sui Founders Hub and Hydropower Accelerator. These efforts lower the barrier to entry for developers and encourage innovation across DeFi, gaming, and NFTs. As more developers join the ecosystem, more applications are started, creating a positive feedback loop of user engagement and platform utility.
What makes Sui stand out is not just its technology or token price—it’s the way all these components reinforce one another. High TVL builds liquidity. Liquidity attracts users. Users draw developers. Developers build applications. Applications create value. And that value invites investment. It’s a rare example of a blockchain achieving alignment across technology, community, and capital. With major partnerships, growing developer support, and clear signs of institutional validation, Sui is well on its way to becoming a dominant force in the next phase of the Web3 revolution.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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