Sui Network is experiencing a significant rise in Total Value Locked (TVL) following the launch of native USDC by Circle.
This major development is propelling the Sui ecosystem forward, especially benefiting native protocols like NAVI. As a key liquidity provider on Sui, NAVI is receiving a substantial liquidity boost thanks to the introduction of USDC, which currently boasts a market value exceeding $3.5 billion.
Sui Network's TVL is on the upswing as native Circle USDC launches today.
All signs point to explosive growth within the SUI ecosystem.
From soaring TVL to surging trading volumes, SUI is outpacing other blockchains.
Plus, SUI's memecoins are catching fire.
Overlooking $SUI… pic.twitter.com/9dHIh1ZJTS
— Kyledoops (@kyledoops) October 9, 2024
NAVI’s position within the Sui ecosystem has now solidified as the third-largest USDC liquidity provider, trailing only Aave and Compound. With the launch of native USDC, NAVI has become an essential financial infrastructure for Sui, enhancing both liquidity and user experience.
In the short term, the release of native USDC is increasing liquidity on Sui, as centralized exchanges (CEX) support USDC deposits and withdrawals. NAVI, as a top DeFi protocol on Sui, is capitalizing on this by launching a series of USDC-supporting functions, including a deposit pool and migration tools for wUSDC to USDC, ensuring asset security and liquidity. This increase in liquidity also positions NAVI as a top choice for users seeking leverage.
NAVI To Bridge Web2 To Web3
In the long run, NAVI is expected to play a critical role in bridging Web2 users to Web3 through DeFi, thanks to Sui’s strategic move. With higher APYs than major platforms like Aave and Compound, NAVI stands out as a competitive option in the USDC lending market. By offering rich products and attractive returns, NAVI will help attract more users and liquidity providers.
⚡️原生 USDC现已在 @SuiNetwork 上线｜ SUI 生态NAVI @navi_protocol 为什么值得关注——
Circle今天在SUI上正式发布了原生 USDC，SUI 上的 TVL 正在急剧攀升，
NAVI @navi_protocol 作为一个在 Sui 上的原生流动性协议，USDC 的上线直接为其带来了庞大的流动性基础。
USDC… https://t.co/IuG2gOTREi
— BITWU.ETH (@BTW0205) October 10, 2024
The integration of USDC into the Sui network is a major win for NAVI, improving its liquidity, competitiveness, and long-term potential in the DeFi market. As the Sui ecosystem grows, NAVI is poised to become a key player in its continued expansion.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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