The Sui blockchain has surged to the forefront of stablecoin supply changes, recording approximately $2.4 billion in inflows over the past 24 hours, according to on-chain data from Artemis and confirmations from exchanges like KuCoin and MEXC. This substantial influx places Sui ahead of competing Layer 1 networks such as Aptos and Ethereum in daily stablecoin movements.
The increase reflects heightened liquidity and DeFi integration within the Sui ecosystem, driven by factors like growing developer activity, new protocol launches, and incentive programs. While Aptos shows long-term growth bolstered by partnerships, and Ethereum maintains its established DeFi presence, Sui's performance signals rising investor confidence and could lead to short-term market volatility.
Evan Cheng, Founder and CEO of Mysten Labs, noted that no direct statements have been issued regarding the inflows in the last 24 hours. Historical trends suggest that such surges may normalize, stabilizing overall market dynamics.