Sui TVL reaches $500m, more than doubles in January

The total locked-in value (TVL) of L1 blockchain Sui has now reached $500 million, achieving the milestone in less than nine months, according to data released by the official X account.Sui TVL grew 15x in the last five months of 2023 and more than doubled in January 2024.The total value of the blockchain is now at $1.5 billion, with the total value of the blockchain reaching $700 million in the last five months. Additionally, activity on the Sui chain is growing, with DeFi weekly transaction volume soaring over 70% to over $770 million last week, placing Sui in the top 5 most active blockchains.