Bluefin, a derivatives protocol in the Sui ecosystem, achieved a 24-hour trading volume of $400 million, ranking third among all derivatives products.

TechFlow reports, according to Defillama data, Bluefin, a derivatives protocol built on Sui, achieved a 24-hour trading volume of $400 million, ranking third among all DeFi derivatives protocols and standing as the top derivatives protocol by trading volume in the Sui ecosystem.

Notably, Bluefin is a decentralized perpetual contracts protocol utilizing an off-chain order book model and has previously secured investments from top-tier firms including Polychain. In December, it maintained an average daily trading volume of $103 million, capturing over 80% market share among DEXs in the Sui ecosystem.