A year ago, the total value of assets locked (TVL) on the Sui Network may not have attracted much attention. But now? The graph is jaw-dropping.
According to DefiLlama, Sui Network’s TVL has soared from around $500 million in early September 2024 to over $2 billion in early September 2025. This represents a year-on-year surge of approximately 305%.
More than just a number, the TVL increase demonstrates the growing liquidity and trust in DeFi protocols within the Sui ecosystem.
Sui Network shows steady inflows and growing DeFi traction
In the past 24 hours alone, the TVL has increased by approximately 2.89%. Looking at the trend since the beginning of the year, the growth has been quite steady, despite a few minor corrections in the middle.
Meanwhile, other network metrics are also shining. The capitalization of active stablecoins on Sui Network is now approaching $873 million. Daily DEX trading volume can reach $418 million, while perpetual derivatives contribute over $105 million per day.
Fresh funds also continue to flow, with daily inflows reaching $273 million. By the way, the bridged TVL is actually higher than the main TVL figure, hovering around $2.33 billion.
However, the price of the SUI token itself hasn’t exactly followed suit. It’s currently hovering around $3.29, struggling to hold above the local support level. And this is where technical analysis comes into play.
Bearish signals dominate, but breakout chances remain
According to analysis from Wyckoff Insider, SUI’s price structure has yet to show signs of solid strength. After failing to hold the resistance zone around $4.2 to $5, the price chart has begun forming a lower high and lower low pattern. This indicates that the market is still in a distribution phase.
Severely strong supply zones are seen in the $4.0-$4.2 and $4.8-$5.2 ranges. So, if the price rises further, it could be a tough area to break through.
Conversely, the nearest demand area is at $2.8-$3.0, and even deeper at $2.0-$2.2 if selling pressure deepens. Even the $1.0-$1.4 zone could be a last line of defense if the market truly weakens.
Interestingly, there is accumulated liquidity around $3.6-$3.8. This could potentially be used for a “stop-hunt” before the price moves in a clearer direction.
Meanwhile, below $3.0 and $2.2, there are also pools of liquidity that could be targeted if support fails to hold. Furthermore, there are bearish divergence signals at the June and July swing highs, which reinforce the suspicion that distribution is still ongoing.
Nevertheless, the opportunity for a rebound remains. If the altcoin manages to break through the $3.8-$4.0 zone and hold above it, the path to $4.8-$5.0 could be open.
But clearly, it won’t be an easy route. Strong volume and sentiment are needed for that scenario to materialize.
Furthermore, the massive TVL increase could provide a crucial cushion for SUI to maintain market confidence. While prices haven’t kept pace with TVL growth, this data at least demonstrates that the ecosystem is still vibrant and growing.