Sui 2023 Q4 and 2024 Q1 Report: Daily DEX transaction volume increased by 3689%, DeFi TVL grew by 1459%
Messari released the Sui 2023 Q4 and 2024 Q1 status report, with key points as follows:
- Over the past two quarters, Sui's daily DEX trading volume has grown by 3689%, reaching $78 million. Cetus and DeepBook lead with average daily trading volumes of $37 million and $26 million respectively;
- Projects primarily built on Sui raised $11.3 million in financing in Q1 of '24, a 31% increase over the total amount financed throughout all of 2023. Projects that received funding in Q1 include Talofa Games, Scallop, NAVI, Cetus and Karrier One;
- At the end of March, Mysten Labs launched Pilotfish, a new execution extension solution that can allocate execution tasks across multiple machines for individual validators;
- DeFi TVL on Sui grew by 1459% over the past two quarters to $786.6 million. Growth was driven by incentive programs; several major protocols including NAVI, Scallop and DeepBook launched or announced tokens in Q1 '24;
- During Quest 3 period ,the average number of active addresses per day on Sui was 151 thousand with a peak at 453 thousand . Excluding this period ,over the last two quarters ,Sui had an average daily active address count of twenty-four thousand.
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