Sui's TVL Surges 90% as Wormhole Integration Boosts Cross-Chain Liquidity

Sui, a blockchain platform, has been making significant strides in the decentralized finance (DeFi) ecosystem. The platform's total value locked (TVL) has reached $1.8 billion, positioning it as the third-largest non-EVM chain by TVL. This growth is attributed to the increasing adoption of stablecoins, with volumes tripling since January, reaching nearly $1.2 billion. The protocol's lending platform, SuiLend, has also seen a substantial increase in TVL, surpassing $600 million, driven by a 90% growth over the past month. Wallet adoption is on the rise, facilitated by integrations with Phantom and Slush Wallet, further enhancing the platform's user base and liquidity.

Wormhole Foundation has extended its Native Token Transfer (NTT) framework to the Sui Network, a move that is expected to significantly enhance cross-chain liquidity flows. This integration allows for the seamless transfer of tokens like GateToken, MEXC Token, and Bonk into the Sui ecosystem. The collaboration between Wormhole, Momentum, and OKX Wallet aims to facilitate this cross-chain liquidity, attracting new participants and native assets to the Sui Network. Dan Reecer, Co-founder of the Wormhole Foundation, highlighted that this framework will strengthen Momentum's market positioning by supporting new native assets and attracting additional liquidity.

Momentum DEX, a decentralized exchange built on the Sui blockchain, has announced major partnerships with Wormhole and OKX Wallet. These partnerships are part of a broader effort to bring billions of dollars in liquidity into the Sui ecosystem in 2025. Momentum will be the first DEX to support Wormhole’s NTT-based assets, enabling users to move tokens easily between different blockchains. The collaboration also includes support for GateToken (GT), MEXC Token (MX), and Bonk (BONK), which will be bridged from Ethereum-compatible blockchains and Solana to Sui. Once bridged, these tokens will be listed on the Momentum DEX, further boosting the Total Value Locked (TVL) and liquidity within the Sui ecosystem. The full launch of the bridge is planned for September 2025.

Momentum is also partnering with OKX’s Cryptopedia, a learn-to-earn platform on the OKX Wallet. This platform features Sui projects like Momentum, xSUI, and xBTC, helping users explore and earn rewards. The WAGMI Trading Competition, running from June 16 to September 8, allows users to earn non-transferable points called “Bricks” by trading and adding liquidity on Momentum. These Bricks will later be converted into airdrop tokens during the Token Generation Event (TGE), marking the final stage of Momentum’s launch plan. Momentum DEX, which launched in beta on March 31, has quickly grown to over $95 million in TVL, $4 billion in swap volume, and 450,000+ users in just 10 weeks.

The integration of the NTT framework builds upon previous experiences with entities such as Sky and Polygon, showcasing improved cross-chain functionalities that also enhance governance and staking opportunities. Observations indicate historical surges in TVL following similar integrations, suggesting that the Sui Network is poised for significant growth. The adoption of the NTT mechanism is expected to strengthen the Sui Network's standing as a hub for cross-chain DeFi activities, with existing partners like Momentum working on liquidity provisioning through strategic collaborations. The future outlook for DeFi, technological improvements, and cross-chain interoperability continues to evolve as Wormhole and Sui capitalize on this expanded framework. Historical partnerships reveal potential regulatory discussions and emerging technological prowess, further solidifying the Sui Network's position in the DeFi landscape.