Analysis of the Current Status of the Sui Ecosystem

Since the Sui mainnet went live nearly a month ago, as a representative work of public chains based on the Move language, its ecological development has attracted much attention. This article will analyze the current status of the Sui ecosystem from multiple perspectives.

I. Fundamentals of the Sui Chain

1. Asset Liquidity

Currently, the TVL on the Sui chain is approximately $19 million, having peaked at $36 million. Among this, the decentralized exchange Cetus accounts for over 65%, followed by Turbos. Over 60% of the TVL components consist of stablecoins.

The trading volume over the past 7 days is at least 32.37 million USD, ranking 20th among all public chains, mainly from Cetus.

2. On-chain activities

• Total transactions on the 7th: 1,129,000 times
• Total number of Objects: over 8.3 million
• Daily active addresses: 22,000
• Total active addresses: 570,000

Recently, on-chain activity has shown a downward trend, mainly fluctuating with significant ecosystem project IDOs and DeFi activities.

3. SUI Token Liquidity

The total circulation of SUI is approximately 528 million coins, with a staking volume of 7.29 billion coins. There is insufficient on-chain liquidity, and most SUI is held in centralized exchanges. Currently, the annualized yield for staking is less than 6%, which offers limited attractiveness to investors.

4. Cross-Chain Bridge

Currently, only the Wormhole cross-chain bridge is available, supporting over 10 types of assets across 7 chains. Due to technical reasons, stablecoin cross-chain data is currently unavailable.

2. Current Status of the Sui Ecosystem

1. Major ecological projects

• DEX: Cetus
• Gatling Pool: Mole
• NFT Market: Souffl3, Clutchy
• NFT Series: Fuddies
• GameFi: Abyss World

Cetus dominates in TVL and trading volume.

2. Traffic Entry

Browser Wallet: Sui Wallet, Suiet, Martian, Ethos, OKX Wallet, Surf Wallet, etc.

Mobile Wallet: Glass, Bitkeep, OKX

Activity Platform: Port3, Suia

3. Challenges and Suggestions Facing the Sui Ecosystem

1. Lower the threshold for validation nodes and introduce a liquid staking solution.
2. Increase cross-chain infrastructure
3. Support for native stablecoins
4. Accelerate mobile wallet support
5. Improve the level of data visualization
6. Provide developers with more freedom for innovation

The Sui ecosystem is still in its early stages, facing numerous challenges, but it also contains immense growth potential. By continuously improving infrastructure, optimizing user experience, and stimulating innovative vitality, Sui is expected to achieve leapfrog development in the future.