Sui’s USDsui Supply Reaches $80 Million as TVL Rises
USDsui supply reached a record $80 million after rising 20.5% in 90 days, while Sui’s total value locked increased more than 20% to $530 million.
Sui’s USDsui stablecoin reached a record $80 million in supply, according to DeFiLlama data. Its supply increased 20.5% over the past 90 days.
USDsui is issued by Bridge, a stablecoin platform owned by Stripe. The increase came alongside growth in Sui’s decentralized finance market. The network’s total value locked, which measures assets deposited in DeFi applications, rose more than 20% during the same period to $530 million.
Sui’s overall stablecoin market capitalization also exceeded $480 million, reaching its highest level since the third-quarter peak, according to the data.
The Sui Foundation has committed $30 million to DATA Network, a project focused on artificial intelligence infrastructure. The foundation and Mysten Labs are also working with OpenAssets to bring the Open Tokenized Asset Standard to Sui. The standard is designed to support the issuance and use of tokenized assets on the blockchain.
Sui has repurchased 830,300 SUI tokens worth about $646,000 using yield from its stablecoin reserves. SUI is Sui’s native token. The repurchase was funded by returns generated from those reserves.
Stablecoin supply measures the amount of dollar-linked liquidity available for trading, payments and transfers on a blockchain. On Sui, the increase in USDsui supply occurred alongside higher TVL, new infrastructure funding and work on tokenized assets.
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