$SUI, a Layer 1 blockchain that originated from Facebook’s now-defunct Diem project, is gaining traction as it addresses scalability, interoperability, and sustainability challenges faced by earlier blockchains. The Sui network has seen substantial growth in its decentralized finance (DeFi) ecosystem, surpassing $1.3 billion in total value locked (TVL) within three months, up from $1 billion in October. This growth is bolstered by nearly $500 million in stable assets. Additionally, Sonic, another Layer 1 blockchain, has experienced a remarkable 344% increase in TVL over the past 30 days, rising from approximately $166 million to $742 million. Sonic, which launched about two months ago, is set to distribute around 190.5 million $S tokens, valued between $100 million and $220 million, to active users in June. The acceleration in stablecoin growth on the Sui network is expected to coincide with upcoming U.S. stablecoin legislation, with predictions that a majority of retail stablecoin transactions will be conducted on both Solana and Sui.