The Sui blockchain has emerged as one of the hottest ecosystems in cryptocurrency, driven by its innovative technology and thriving decentralized finance (DeFi) sector. While the Sui token itself has experienced remarkable growth, it is the ecosystem’s projects and protocols that truly stand out.
This article takes a deep dive into the top DeFi projects within the Sui protocol, highlighting their unique features, market performance, and potential for growth.
Top Crypto Projects on Sui Blockchain
Cetus Protocol (CETUS)
Cetus Protocol positions itself as a pioneer decentralized exchange (DEX) for move-based protocols, including Sui and Aptos. Within the Sui ecosystem, it stands out as the second-largest protocol by TVL, offering advanced trading options and enhanced capital efficiency.
Key Features
Governance and Launchpad: Uses xCETUS tokens for governance and features a Launchpad for new projects.
Concentrated Liquidity Market Maker (CLMM): Enables minimal slippage in trading and improved capital efficiency.
Innovative Tools: Offers features such as swaps with limit orders, dollar-cost averaging (DCA), and a Central Limit Order Book (CLOB) via its DeepBook integration.
Price Performance of CETUS
| Current Price | $0.3081 |
| 24-hour Change | -1.72% |
| 7-day Change | -1.72% |
| 30-day Change | -19.81% |
| 90-day Change | +81.13% |
| 1-year Change | +232.18% |
| All-Time High | $0.4970 |
| All-Time Low | $0.02000 |
Navi Protocol (NAVX)
Navi Protocol leads the Sui ecosystem in terms of TVL, with over $370 million locked. This protocol is a comprehensive DeFi platform offering lending, yield strategies, liquid staking, and more.
Key Features
- Lending and Borrowing: Users can use SUI tokens as collateral to borrow stablecoins like USDC.
- Liquid Staking and Flash Loans: Provides efficient ways to maximize yield while maintaining liquidity.
- Looping Options: Allows users to borrow against their SUI holdings, swap for more SUI, and reinvest, boosting their health score and yields.
Price Performance of Navi Protocol
| Current Price | $0.1322 |
| 24h Change | +5.22% |
| 7d Change | -8.68% |
| 30d Change | +0.401% |
| All-Time High | $0.4171 |
| All-Time Low | $0.03014 |
| Market Cap | $8.68M |
| Fully Diluted Valuation | $51.94M |
| Circulating Supply | N/A |
| Total Supply | N/A |
| Volume (24h) | N/A |
Scallop (SCA)
Scallop is a next-generation money market and lending protocol, ranking fourth by TVL within the Sui ecosystem. It offers traditional DeFi tools with innovative enhancements.
Key Features of Scallop
- Lending and Swapping: Supports lending protocols and token swaps for greater financial flexibility.
- Governance with vSCA Tokens: Locking SCA tokens grants users vSCA, which provides voting power, boosted token emissions, and fee sharing from pools.
- Small Ecosystem: While relatively new, Scallop is building a dedicated user base.
Price Performance of Scallop
| Metric | Value |
|---|---|
| Current Price | $0.3497 |
| 24h Change | -7.19% |
| 7d Change | -10.5% |
| 30d Change | -33.0% |
| All-Time High | $1.47 |
| All-Time Low | $0.1529 |
| Market Cap | $20.4M |
| Fully Diluted Valuation | $87.4M |
| Circulating Supply | 58.31M |
| Total Supply | 250M |
| Volume (24h) | N/A |
SuiSwap (SSWP)
SuiSwap is a cross-chain decentralized exchange (DEX) that launched with an airdrop in 2022. Despite its small scale, it has gained traction for its straightforward functionality and accessible design.
Key Features
- Cross-Chain Swaps: Supports 16 tokens, including SOL, WBTC, GLMR, AVAX, WETH, and FTM.
- Minimalistic Design: Focused on efficiency and simplicity in token swaps.
- All Tokens Unlocked: Unlike other protocols, SuiSwap has no locked tokens, ensuring transparency.
Price Performance of SuiSwap Token
| Metric | Value |
|---|---|
| Current Price | $0.00066879 |
| 24h Change | -6.10% |
| 7d Change | +31.83% |
| 30d Change | +6.39% |
| All-Time High | $0.011000 |
| All-Time Low | N/A |
| Market Cap | $6.69M |
| Fully Diluted Valuation | $6.69M |
| Circulating Supply | 10B |
| Total Supply | 10B |
| Volume (24h) | $660.39K |
Turbo Finance (TURB)
Turbos Finance is another standout DEX in the Sui ecosystem, backed by prominent investors like Jump Crypto and Mysten Labs. It utilizes an Automated Market Maker (AMM) model and delivers fast, low-cost transactions.
Key Features
- AMM Model: Offers efficient swaps and yield strategies.
- Investor Backing: Supported by major players in the crypto space, boosting its credibility.
- User-Friendly Design: Emphasizes speed and low transaction fees.
| Metric | Value |
|---|---|
| Current Price | $0.00312 |
| 24h Change | -3.09% |
| 7d Change | -15.8% |
| 30d Change | -18.3% |
| All-Time High | $0.00727 |
| All-Time Low | $0.0007469 |
| Market Cap | N/A |
| Fully Diluted Valuation | N/A |
| Circulating Supply | 2.79B |
| Total Supply | 10B |
| Volume (24h) | N/A |
How to Buy SUI Tokens?
SUI tokens can be traded on both centralised and decentralized exchanges. SUI is available on top crypto exchanges like Coinbase, Kraken, Binance and many more. You can also buy SUI on decentralized exchanges like DeGate, Turbos and Bluemove.
How to Buy SUI On Binance Exchange?
To Buy SUI on Binance, you need a KYC verified account. If you have one then you may skip the next step.
To create an account on Binance all you need is a valid identify card or yourself. Next navigate to the exchange and create your account. To create an account you need to fill in some basic details and submit your ID.
Once verified you are set to transfer funds in your account to start trading. If you don’t own any crypto you may opt to buy crypto through P2P trading.
To transfer funds navigate to the dashboard and select Deposit.
Next, choose the coin, and the network. This will create a deposit address for you.
Next, you need to send crypto to the address you just created
Wrapping Up
The Sui blockchain is revolutionizing the DeFi landscape with its innovative protocols and rapidly growing ecosystem. Projects like Cetus Protocol, Navi Protocol, Scallop, SuiSwap, and Turbo Finance are leading the charge, offering unique solutions and promising growth potential.
As Sui’s ecosystem continues to expand, these projects represent exciting opportunities for investors and crypto enthusiasts. However, it’s crucial to approach investments with caution, given the inherent volatility in the cryptocurrency market. Keep an eye on these standout projects as they shape the future of DeFi within the Sui ecosystem.
A.k.a – alpha girl. Vinita is the founder of Alphachaincrypto. An English Lit Majors, Vinita bumped into Web3 in 2020 only to realise that tech was her calling. Later, Mathreja worked for some notable brands like Near Education, Biconomy, CoinDCX and top of the line crypto start ups.
