The Layer-1 blockchain Sui is experiencing a fresh wave of momentum as its total value locked (TVL) inches closer to the significant $2 billion mark a level last reached earlier this year. According to data from DeFiLlama as of June 10, 2025, Sui’s TVL currently stands at $1.96 billion, up nearly 10% from its weekly average of $1.77 billion.
This renewed growth comes amid multiple bullish catalysts rippling through the Sui ecosystem, including increasing speculation around a potential SUI exchange-traded fund (ETF) and a rise in cross-chain asset activity.
SUI ETF Speculation Boosts Market Confidence
Fueling the rally in sentiment is Nasdaq’s recent 19b-4 filing with the U.S. Securities and Exchange Commission (SEC) to list the 21Shares SUI ETF. This follows an earlier S-1 registration in April, initiating the formal regulatory process for a spot ETF tied to the SUI token.
Market analysts now place a 60% probability on ETF approval by 2025, a development that could open the door for institutional and retail investors to gain regulated exposure to the Sui ecosystem.
Kevin Boon, President of Mysten Labs, the team behind Sui, called the Nasdaq filing a watershed moment for the project.
“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,” Boon said.
DeFi Expansion and Bitcoin-Pegged Tokens Drive TVL
The Sui network’s TVL growth isn’t just fueled by ETF optimism — several on-chain developments are also playing a key role.
One standout factor is the rising volume of Bitcoin-pegged assets across Sui’s DeFi protocols. Roughly 10% of the total locked value is now held in assets such as wBTC, LBTC, and stBTC, reflecting increased interest in cross-chain composability and BTC-based yield strategies.
Additionally, Sui has surpassed a major liquidity milestone, with over $1 billion in stablecoins now circulating across its decentralized finance applications. This surge in liquidity provides the foundation for sustained protocol growth and attracts more developers and users into the ecosystem.
Native Token SUI Shows Modest Gains
Amid all the ecosystem activity, SUI, the native token of the Sui blockchain, has posted moderate price gains. As of press time, the token trades around $3.47, representing a 2% increase over the past 24 hours and a weekly gain of approximately 7%.
While modest compared to some earlier breakouts, the steady price movement reflects growing confidence in Sui’s fundamentals and its ability to scale beyond initial expectations.
Final Thoughts
With a spot ETF application in motion, growing stablecoin liquidity, and the increasing integration of Bitcoin-pegged assets, the Sui blockchain appears poised for a breakout year. Reclaiming the $2 billion TVL milestone would further cement Sui’s status as a leading Layer-1 protocol in the evolving DeFi landscape. As both institutional and community-driven momentum builds, all eyes remain on how the ecosystem capitalizes on this renewed interest in the months ahead.
