SUI’s TVL Growth Surges 16.1% Year Over Year

SUI’s ecosystem has been experiencing significant growth, with its largest protocols, Suilend and NAVI, engaged in a close competition in terms of Total Value Locked (TVL). Suilend currently holds $539.1 million in TVL, while NAVI closely follows with $527.5 million. Both protocols have seen substantial TVL growth since the fourth quarter of 2024, with NAVI’s growth being more stable compared to Suilend’s more volatile trajectory. This competition highlights a fierce battle within the SUI DeFi sector, where user capital flows and protocol utility could determine the next dominant force.

In addition to the growth in TVL, SUI has also seen a remarkable developer growth rate, increasing by 16.1% year over year. This ranks SUI second only to Solana, which saw a 17.7% increase. Over a two-year period, SUI has shown the best network growth with a 54% increase, far outpacing other networks. This growth is particularly notable given the wider trend of a 20% decrease in the number of crypto developers. While most EVM Layer 1 chains experienced negative growth, SUI has bucked this trend, showcasing its strength in developer attraction and retention.

The price of SUI has also been influenced by the growing on-chain and protocol activity. A distinct inverse head and shoulders pattern has formed on SUI’s 2-hour chart, signaling a potential trend reversal. The neckline, sloping downward from $3.20 to $2.90, had acted as a key resistance level. After several failed attempts, SUI finally broke above the neckline, confirming the breakout and pushing the price above $3.00. If momentum continues, SUI could target the $3.20–$3.40 range. However, a drop below the $2.90 neckline would put the breakout at risk of invalidation, potentially signaling a false move. Recent breakout candles also faced mild rejection near $3.10, making immediate follow-through critical for sustaining momentum. While the chart still reflects underlying strength, a continuation of the rally will likely require increased volume and consolidation around the neckline to confirm support.