Well now, gather ’round, folks! It seems that the layer-1 blockchain known as Sui is strutting its stuff, inching ever closer to that shiny $2 billion total value locked (TVL) milestone. Why, it’s like watching a turtle race a hare, but this turtle has a bit of a spring in its step! 🐢💨
According to the fine folks over at DeFiLlama, as of June 10, 2025, Sui’s total value locked is sitting pretty at $1.96 billion. That’s a spiffy 10% bump from the $1.77 range it was loafing about in for the past week. It’s like Sui decided to put on its Sunday best and head out to reclaim its former glory! 🎩✨
Now, what’s got the folks in the industry all a-twitter? Well, it seems there’s chatter about a potential SUI exchange-traded fund (ETF) launch. Just recently, Nasdaq decided to throw its hat in the ring, filing a 19b-4 with the Securities and Exchange Commission to list the 21Shares SUI ETF. Talk about a fancy shindig! 🎉
Nasdaq just filed to list the 21Shares SUI ETF — a spot ETF backed by the SUI token.
From $300M+ in global ETP inflows to a potential U.S. listing, institutional momentum for Sui is very real.
Next stop: institutional adoption.
— Sui (@SuiNetwork) June 10, 2025
This little filing follows 21Shares’ S-1 registration back in April, kicking off the regulatory review process for a spot ETF based on the SUI token. Market analysts, bless their hearts, have even placed the odds of a SUI ETF approval in 2025 at a whopping 60%. That’s enough to make a cat laugh! 😸
Kevin Boon, the big cheese over at Sui’s founding team, Mysten Labs, couldn’t help but puff out his chest a bit. He said, “Looking back at our mainnet only two years ago, the milestone of a NASDAQ filing is a powerful moment. We are proud to help 21Shares build towards a world where every investor can access SUI.” Well, isn’t that just peachy? 🍑
But wait, there’s more! Beyond the ETF chatter, Sui’s rising TVL is being fueled by a whole host of ecosystem-wide developments. For starters, the network has seen a delightful uptick in Bitcoin-pegged assets, with about 10% of its locked value now cozying up in tokens like wBTC, LBTC, and stBTC. It’s like a family reunion of cryptocurrencies! 🥳
And if that wasn’t enough, Sui has recently crossed a major liquidity threshold, with over $1 billion in stablecoins now circulating across its DeFi applications. That’s a whole lot of dough, folks! 💵
Meanwhile, the native token of the protocol, SUI (SUI), has been on a modest climb all week. At press time, it’s trading around $3.47, reflecting a 2% gain over the past 24 hours and about 7% over the last week. It’s like watching a little seed sprout into a mighty oak! 🌳
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2025-06-11 15:16