TechFlow news — Messari has released the Sui Q1 2024 and Q4 2023 state reports, showing that Sui's average daily DEX trading volume surged by 3,689% over the past two quarters to reach $78 million. Cetus and DeepBook led with average daily DEX trading volumes of $37 million and $26 million, respectively.
Projects primarily built on Sui raised $11.3 million in Q1 2024, a 31% increase compared to the total amount raised by Sui-based projects throughout 2023. Projects that secured funding during the first quarter include Talofa Games, Scallop, NAVI, Cetus, and Karrier One.
Sui's DeFi TVL grew 1,459% over the past two quarters to $786.6 million. Incentive programs helped drive this growth, as multiple top-tier protocols—including NAVI, Scallop, and DeepBook—launched or announced tokens during Q1 2024.
During the on-chain gaming campaign Quest 3, Sui averaged 151,000 daily active addresses, peaking at 453,000. Excluding this period, Sui averaged 24,000 daily active addresses over the past two quarters.
