The Sui blockchain SUI $3.65 2024-05-14

The DeFi protocols on the Sui (SUI) blockchain have seen a surge in interest, leading to a rise in TVL.

Key Points:

- DeFi protocols on the Sui network have seen a surge in TVL, reaching $2.19 billion.

- Lending protocols on Sui saw a 78.86% increase in TVL in the past month.

- NAVI Protocol, a flagship lending and borrowing platform on Sui, has seen its token, NAVX, get listed on Binance Alpha.

- The Mojito platform is bringing real-world use cases to Sui with its new loyalty program.

- SUI price could be setting the stage for another leg up as speculation mounts over a third-ever ‘golden cross’ for the token this month.

The DeFi protocols on the Sui (SUI) blockchain have been making inroads in the DeFi space as it positions itself as a formidable competitor to Solana (SOL).

The network continues to gain further momentum amid successful integrations with real-world Web3 applications, growing interest in Sui-based DeFi protocols, and increasing developer momentum.

Sui Blockchain DeFi TVL Skyrockets to $2.1 Billion

According to the data from DeFiLlama, the total value locked (TVL) on the Sui blockchain has surged all the way to $2.19 billion.

Lending protocols on Sui experienced a 78.86% increase in TVL over the past month, driven by heightened liquidity incentives, attractive yields, and increased interest from both retail and institutional DeFi participants.

A key contributor to this growth is NAVI Protocol, the flagship lending and borrowing platform on Sui.

Sui’s Total Value Locked in DeFi. Source: defilama.com

The NAVI Protocol recently achieved a significant milestone as its token, NAVX, was listed on Binance Alpha, following its earlier debut on the OKX exchange.

According to a recent announcement on X, the team highlighted the token’s growing momentum and emphasized NAVI’s expanding DeFi offerings on Sui, including lending, borrowing, liquid staking, and trading.

NAVX listed on @binance Alpha!

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NAVX is picking up momentum.

After the recent listing on @okx , the native token of NAVI DeFi Ecosystem is getting its spotlight on Binance Alpha.

NAVI brings groundbreaking DeFi on Sui to Binance Alpha users, with Lending/Borrowing, Liquid… https://t.c/iTpyLHvrIJ pic.twitter.com/bdAnJRb1at

— NAVI Protocol (@navi_protocol) May 13, 2025

In addition to DeFi, Sui is also gaining prominence for real-world applications, particularly in the loyalty and commerce domains. Web3 commerce infrastructure provider Mojito has launched Mojito Loyalty, a gamified loyalty platform built entirely on Sui.

Mojito Loyalty enables brands to effortlessly integrate on-chain missions, rewards, and engagement features directly into their platforms, eliminating the need for additional wallets or external dashboards.

Mojito CEO Neil Mullins explained that the loyalty market is set to reach $155 billion by 2029, presenting a prime opportunity for transformation.

Utilizing Sui’s rapid and cost-effective infrastructure, Mojito delivers real-time, scalable user engagement while maintaining a seamless user experience.

"We're excited to introduce Mojito Loyalty as the ultimate turnkey solution for brands to effortlessly launch engaging and rewarding loyalty programs on Web3 with the help of Sui's technology," said Mullins.

"With its seamless integration and advanced capabilities, Mojito Loyalty empowers brands to create personalized experiences that deepen customer engagement and foster lasting loyalty."

‘Golden Cross’ Pattern Can Push SUI Price to $10

Over the past week, SUI price surged 16.7% to $4.0 levels and is currently the 11th largest cryptocurrency with a market cap of $13.1 billion.

Speculation is mounting about the possibility of a third-ever golden cross for SUI this month, which can set the stage for bullish price action ahead.

The last two golden crosses on SUI’s 1D chart, where the 50-day moving average (MA50) crossed above the 200-day moving average (MA200), delivered impressive gains. Each instance resulted in over 200% price increases from the golden cross to the local cycle top.

Last week, Sui saw strong institutional interest, attracting $11.7 million in weekly inflows. This further brings its year-to-date total to $84 million, surpassing Solana’s $76 million.

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