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Sui Network is set to enhance its decentralized finance (DeFi) offerings by introducing Bitcoin staking on its Babylon layer-2 network starting in December. This initiative aims to tap into Bitcoin's substantial liquidity, estimated at $1.8 trillion, allowing Bitcoin holders to stake their assets and mint LBTC, a liquid staking token from the Lombard Protocol. The announcement comes amidst a surge in DeFi activity, with total value locked (TVL) in the sector reaching a three-year high of $118.4 billion. Sui has also reported a significant increase in its own TVL, which recently hit an all-time high of $2.3 billion, up from $400 million in August. The network has seen a notable rise in monthly active addresses, doubling to 8.4 million in November, reflecting its growing user engagement and developer interest. Additionally, Sui's market cap stands at $10 billion, with a daily trading volume of $250 million.
💥 #Bitcoin is coming to @SuiNetwork! Here's how #Lorenzo Protocol is making it happen: 🧩 @LorenzoProtocol is partnering with @navi_protocol and @CetusProtocol to bring #Bitcoin liquidity to #Sui Network. 🫂 This initiative includes $stBTC integrations, leveraging… https://t.co/MELS4K0fwI
🌊 We’ve integrated @springsui_ by @suilendprotocol into 7K! SpringSui lets users stake $SUI for liquid-staking tokens like $sSUI, offering instant unstaking for infinite liquidity and enhanced safety. 👏 Swap SpringSui tokens on https://t.co/IpPJTDZux0 with the best rates and… https://t.co/uhQ3UoWPdb
📈 #Sui’s Growth Keeps Accelerating! 🔹Sui’s monthly active addresses have hit a new milestone: 8.4M in November, more than doubling since August (3.2M). 🚀 🔹This steady climb reflects Sui’s ability to attract and retain users, with engagement surging across its ecosystem. https://t.co/97Zcwo6gcE