Sui blockchain has reached $1.77 billion in total value locked (TVL), ranking it eighth among all blockchains. Approximately 10% of this TVL consists of Bitcoin assets such as wBTC, LBTC, and stBTC, while over $1 billion is held in stablecoins. Daily active users on Sui have tripled over the past three months, and the network recently surpassed BNB in daily transactions. Sui has also outperformed Solana in recent metrics. Sui's decentralized exchange (DEX) volume has reached a record $304.3 million per day, led by Cetus and Bluefin. The network has attracted institutional interest, with Grayscale, Libre Capital, and Canary Capital filing for exchange-traded funds (ETFs) in the first quarter. Grayscale and Libre have increased their involvement. Over 100 million users have been onboarded through platforms such as Phantom, Binance, and Telegram. Recent technical developments include zkLogin, sponsored transactions, and the Sui Move programming language. Sui validators have voted to hard fork the chain to restore hacked funds from the Cetus platform. In the broader DeFi sector, Hyperliquid led all chains in gross profit for May 2025, outperforming TRON, Ethereum, Base, and Solana. Hyperliquid accounted for 80% of DeFi perpetuals volume and saw a 32% month-over-month increase in trading volume. Hyperliquid's HyperEVM was highlighted in recent reports. Other updates include the rise of AxiomExchange, developments by Alkanes from oylwallet, and a market update from Moonwell. Tether launched a gold-backed stablecoin on the TON blockchain. Onchain transfer volume for USDT reached an all-time high of approximately $1 trillion.