AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
Sui Network, a prominent blockchain platform, has recently achieved a significant milestone with its total value locked (TVL) in decentralized finance (DeFi) protocols surpassing $1.4 billion. This surge is attributed to the growing popularity of protocols such as Cetus, Navi Protocol, and MovEX, which offer a range of financial services including derivatives, stablecoin swaps, liquid staking, and structured yield products.
In a strategic move to enhance its infrastructure,
has partnered with Google Cloud. This collaboration provides developers with access to AI inference APIs, data analytics, and real-time chain indexing via BigQuery. The integration of AI tools is expected to facilitate on-chain AI applications, including prediction markets, DeFi oracles, and dynamic NFTs, thereby fostering innovation within the ecosystem.Sui Network has also made strides in institutional adoption.
and DBS Bank, two major Asian , have joined the Sui validator program. By running high-uptime nodes and participating in on-chain governance, these institutions are contributing to the network's consensus validation and long-term sustainability. This move underscores the growing interest from traditional financial players in the blockchain space.In another significant development, TikTok, the popular social media platform owned by ByteDance, is piloting a Web3 creator monetization program using the Sui network. This initiative allows creators in Southeast Asia to tokenize fan engagement and rewards, linking these tokens directly to content metrics and fan interactions. The pilot program is a testament to the potential of blockchain technology in revolutionizing digital content monetization.
Graviton, a DeFi project building a modular trading, lending, and cross-margining platform on Sui, has successfully raised $50 million in a Series A funding round led by a16z Crypto and Pantera. The project, often compared to dYdX, aims to onboard tens of thousands of active traders with its upcoming launch. This funding round highlights the growing interest and investment in the DeFi space, particularly on the Sui Network.
According to CryptoDevTrack, Sui has surpassed
and Near in weekly developer commits and repository forks. This achievement is driven by new tooling around Move, zk-data indexing, and cross-chain liquidity protocols, indicating a vibrant and active developer community within the Sui ecosystem.In summary, Sui Network's recent achievements, including its partnership with Google Cloud, institutional validator additions, TikTok's Web3 integration, and Graviton's funding round, position it as a leading player in the blockchain and DeFi space. The network's growing TVL and developer activity further underscore its potential for innovation and adoption in the financial and digital content sectors.
Daily stocks & crypto headlines, free to your inbox
By continuing, I agree to the
Market Data Terms of Service and Privacy Statement
Comments
No comments yet