Sui (SUI) has surpassed Ethereum (ETH) and Solana (SOL) in terms of growth in decentralized exchange (DEX) volume.

According to DefiLlama data, the Sui volume increased 63.13% in dex for the week to $745.89 million. That gives the network the 9th overall ranking, ahead of Base and Osmosis.

The chain ranked by dex volume. Source: DefiLlama

Ethereum, the current leader in the ranking, experienced a 14.70% loss during the week. Solana secured the second position with an impressive 40.58% growth, while Binance Smart Chain (BSC) holds the third place with a growth of 4.54%.

As a result, Sui had the most significant increase in DEX volume for the week out of the top 20.

Also, the coin’s price has been growing for the last 30 days. According to CoinMarketCap, the price of SUI increased from $0.7184 to $1.64, which is about 125%. 

The change in the price of SUI over the month. Source: CoinMaketCap

According to Token Terminal, Sui’s trading volume is also rising. This figure has increased by 120% in 30 days and 210% in three months. 

The trading volume for Sui began to rise around Dec. 20, escalating from $126.7 million on Dec. 27 to a peak of $417 million. Sui reached its highest point at $737.8 million on Jan. 13.

Sui trading volume for 6 months. Source: Token Terminal

Analysts from CryptoRank ranked Sui as the top gainer among blockchains in January 2024 with 65.2% growth. One of the latest successful projects, Cosmos Ecosystem Celestia, is in 6th place in the same ranking with 29.9% growth.

Sui grew in Total Value Locked (TVL) within the decentralized finance (DeFi) sector. The project secured the 9th position with a growth of 114% during the month. Additionally, Manta made its mark by entering the top 10 in TVL, with a growth of 30% in 30 days.

At the same time, the dominant player of DeFi by TVL, Ethereum, showed a growth of 5.47%, while Tron, which took second place, lost 2.43%. 

Ranking of chains in DeFi by TVL. Source: DefiLlama

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