Layer 1 blockchain Sui has experienced a sharp increase in inflows this month, a spike that has seen it overtake Cardano, Near and Aptos in terms of total value locked (TVL). The network, which was built by former Meta (META) employees, now has over $593 million in capital locked across various decentralized finance (DeFI) protocols, more than double its total at the turn of the year when it had $211 million, DefiLlama data shows. Sui is often compared to Aptos as they are both built using Move, a programming language that was originally developed at Meta to power the Diem blockchain. Sui experienced a turbulent start after it debuted on Binance’s launchpad in May last year.
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