Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
SUI Fails To Recover 83% Loss Despite Surging Chain Activity

SUI Fails To Recover 83% Loss Despite Surging Chain Activity

DailyCoinDailyCoin2024/04/30 03:19
By:DailyCoin
  • SUI has struggled with a downward momentum within the past month.
  • The layer-1 chain is recording an uptick in activity following a similar underperformance.
  • SUI has fallen out of the top assets by global market capitalization.

Sui, the Layer-1 solution focused on digital asset ownership has performed impressively since its launch over the past year, benefiting from strong momentum across its ecosystem. Beginning the year on a positive note, Sui achieved significant milestones in token price and Total Value Locked (TVL), attaining new all-time highs and record values.

However, the performance of the native token has taken a disappointing turn, overturning its previous positive trend.

SUI’s Reversal of Fortunes

SUI’s price performance over the past week has been challenged by its inability to notch respectable gains, evidenced by its depressing approximate 15% loss in the past seven days.

According to CoinMarketCap data on Monday, April 29, the native token is trading at $1.19. This marks a total 5% slip in the last 24 hours, kicking off the token’s performance this week with a downward start.

While SUI’s current trading price marks a 54.5% uptick from its year-start range of $0.77 to $0.80, the token is down approximately 83.2% from its all-time high price of $2.18. The loss in SUI’s market value was in response to a broader market crash , positioning the native token as one of the biggest losers in the downward market trend.

Despite SUI’s underperformance, the broader ecosystem, which mirrored its negative performance , has swiftly rebounded.

Sui Network Makes Positive Comeback 

Per the decentralized finance analytics platform, DefiLlama on Monday, the total value locked (TVL) on Sui sits at a total $604.31 million at press time. While this marks an approximate 20% downfall from its record value range of $725 million, it marks a reversal from its past week’s underperformance below $530 million .

Sitting at the 13th position in total TVL, Sui surpasses chains such as PulseChain, Aptos, and Cardano , which hold $421 million (15th position), $329 million (16th position), and $289 million (23rd position), respectively.

Additionally, the Sui Network also recently welcomed its first dollar-pegged stablecoin $FSUSD , marking the ecosystem’s first native 1:1 stablecoin . $FDUSD, owned by Hong Kong’s First Digital Trust, ranks as the fourth largest stablecoin with a market capitalization exceeding $4.41 billion.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

$8.8 billion outflow countdown: MSTR is becoming the abandoned child of global index funds

The final result will be revealed on January 15, 2026, and the market has already started to vote with its feet.

深潮2025/11/22 11:59
$8.8 billion outflow countdown: MSTR is becoming the abandoned child of global index funds

Deconstructing DAT: Beyond mNAV, How to Identify "Real vs. Fake HODLing"?

There is only one iron rule for investing in DAT: ignore premium bubbles and only invest in those with a genuine flywheel of continuously increasing "crypto per share."

BlockBeats2025/11/22 11:24
Deconstructing DAT: Beyond mNAV, How to Identify "Real vs. Fake HODLing"?

Empowered by AI Avatars, How Does TwinX Create Immersive Interaction and a Value Closed Loop?

1. **Challenges in the Creator Economy**: Web2 content platforms suffer from issues such as opaque algorithms, non-transparent distribution, unclear commission rates, and high costs for fan migration, making it difficult for creators to control their own data and earnings. 2. **Integration of AI and Web3**: The development of AI technology, especially AI Avatar technology, combined with Web3's exploration of the creator economy, offers new solutions aimed at breaking the control of centralized platforms and reconstructing content production and value distribution. 3. **Positioning of the TwinX Platform**: TwinX is an AI-driven Web3 short video social platform that aims to reconstruct content, interaction, and value distribution through AI avatars, immersive interactions, and a decentralized value system, enabling creators to own their data and income. 4. **Core Features of TwinX**: These include AI avatar technology, which allows creators to generate a learnable, configurable, and sustainably operable "second persona", as well as a closed-loop commercialization pathway that integrates content creation, interaction, and monetization. 5. **Web3 Characteristics**: TwinX embodies the assetization and co-governance features of Web3. It utilizes blockchain to confirm and record interactive behaviors, turning user activities into traceable assets, and enables participants to engage in platform governance through tokens, thus integrating the creator economy with community governance.

BlockBeats2025/11/22 11:23
Empowered by AI Avatars, How Does TwinX Create Immersive Interaction and a Value Closed Loop?

Aster CEO explains in detail the vision of Aster privacy L1 chain, reshaping the decentralized trading experience

Aster is set to launch a privacy-focused Layer 1 (L1) public chain, along with detailed plans for token empowerment, global market expansion, and liquidity strategies.

BlockBeats2025/11/22 11:22
Aster CEO explains in detail the vision of Aster privacy L1 chain, reshaping the decentralized trading experience