Sui 2023 Q4 and 2024 Q1 report: Daily average DEX transaction volume increased by 3689%, DeFi TVL increased by 1459%

On April 25th, Messari released the Sui2023Q4 and 2024Q1 status report. In the past two quarters, the Sui daily DEX trading volume has grown by 3689%, reaching 78 million US dollars. Cetus and Deep Book lead with daily trading volumes of 37 million US dollars and 26 million US dollars, respectively. Projects built mainly on Sui raised 11.3 million US dollars in Q1 of 2024, which is 31% higher than the total funding raised in 2023. At the end of March, Mysten Labs launched Pilotfish.

DeFiT VL on Sui has grown by 1459% in the past two quarters, reaching 786.6 million US dollars. Incentive programs have driven growth, with several major protocols including NAVI, Scallop, and Deep Book launching or announcing tokens in Q1 of 2024. During Quest3, the average daily active addresses on Sui were 151,000, with a peak of 453,000. Excluding this period, the daily active addresses on Sui in the past two quarters were 24,000.