Sui increased its market capitalization and user activity in the second quarter of 2025, according to the Messari report. Growth covered all key areas: from TVL and DEX volumes to integrations with major TradFi players. The ecosystem also made progress in infrastructure and institutional products.
TVL, Market Capitalization and User Activity
According to the report, in the second quarter of 2025 the total value locked (TVL) in DeFi protocols on Sui reached $1.76 bln, showing an increase of 44,3% compared to the first quarter. In terms of the native token, growth was 17,7% – from 536.6 mln to 631.8 mln SUI.
The average daily trading volume on decentralized exchanges built on Sui reached a record $367.9 mln, up 20,8% compared to the previous quarter. The main volumes came from Cetus ($170.7 mln per day) and Bluefin ($78.5 mln).
The market capitalization of circulating SUI tokens increased by 31,3% to $9.44 bln. This figure outpaced the overall crypto market growth for the same period (23,5%).
Institutional Interest and New Products
In the second quarter, Sui strengthened its institutional presence. In April, Grayscale launched the Grayscale SUI Trust, which provides regulated access to the asset without direct token custody. At the same time, 21Shares filed with the SEC for listing a spot SUI ETF and announced a strategic partnership with the ecosystem.
Also in April, Athens Exchange Group (ATHEX) and Mysten Labs developed a PoC for a fully onchain order book, integrating zero-knowledge proofs into the order submission process. This was the first step toward building on Sui a full-scale stock platform with confidential order submission and compliance with regulatory requirements.
Fireblocks provided custody and trading solutions for Sui’s institutional clients. Integrations with Utila, Interactive Brokers and other platforms expanded institutional access to the token and network products.
Infrastructure Expansion
The ecosystem continued to expand its infrastructure. Mysten Labs launched in testnet the Seal service – a solution for decentralized secret management using threshold encryption and onchain access. The service is designed for managing and transferring private data, including applications with gated content and private messaging.
From April to June, more than 10 major providers integrated with Sui: Axelar (cross-chain interoperability), Ledger (support in Ledger Live), Kraken and MEXC (USDC trading on Sui), Microsoft Fabric (access to onchain data), Privy, Trust Wallet and Backpack. Phantom and Dynamic also implemented Sui support, expanding opportunities for users and developers.
The document covers key metrics, infrastructure, institutional integrations, and user activity on Sui in the second quarter of 2025. Full report available at the link.
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