Sui TVL in 2026: Where the Money Sits, by DefiLlama
Sui TVL was about $462M on 31 October 2026 per DefiLlama, 82% below its 2025 peak. The breakdown by category and protocol, and what the numbers leave out.
Sui's DeFi TVL was about $462 million on 31 October 2026, per DefiLlama, roughly 82% below its peak of $2.64 billion on 9 October 2025. Lending holds the largest share, led by Suilend and NAVI, followed by liquid staking, real-world assets, DEXs and Bucket's CDP stablecoins. This page breaks that number down by category and protocol, explains what DefiLlama counts and leaves out, and links to our comparison of each Sui protocol against the Ethereum app people usually measure it against.
Sui TVL on 31 October 2026
DefiLlama publishes more than one number for a chain, and the gap between them is large on Sui. The headline figure on the DefiLlama Sui chain page was about $462 million on 31 October 2026. That default leaves out two things DefiLlama tracks separately:
- Liquid staking: about $120 million of SUI staked through SpringSui, Haedal, Volo and smaller issuers. DefiLlama's methodology tracks liquid staking protocols but does not count them toward chain TVL by default.
- Double-counted value: about $23 million that sits in protocols depositing into other protocols, such as vaults that lend through a money market.
Switch both on and Sui's figure rises to about $605 million. A third series, borrowed assets, was about $211 million. DefiLlama shows it separately and leaves it out of both figures.
All of this is priced in dollars, and SUI traded around $0.90 on 31 October 2026, per DefiLlama's price feed. A large part of every Sui protocol's TVL is SUI or a token priced off it, so the chain's TVL moves with the token even when nobody deposits or withdraws.
How Sui TVL got here: peak and drawdown
DefiLlama's history for Sui starts in May 2023, the month mainnet launched. TVL was about $212 million on 1 January 2024, passed $1 billion in October 2024 and kept climbing through 2025. It peaked at about $2.64 billion on 9 October 2025, when SUI was trading near $3.54.
The fall since then has been steep:
- About $1.72 billion on 1 November 2025.
- About $890 million on 1 December 2025.
- About $571 million on 1 April 2026.
- A 2026 low of about $403 million on 17 August 2026.
- About $554 million on 1 October 2026, then about $462 million on 31 October 2026.
Price explains most of it. SUI fell about 74% between the October 2025 peak and 31 October 2026. TVL fell about 82%, further than the price, so deposits left as well, many of them when incentive programs ended. Momentum's DEX is the clearest case: its TVL went from about $633 million on 25 October 2025 to about $3.5 million on 31 October 2026, per DefiLlama. Our explainer on what DeFi TVL measures covers why a dollar figure can fall while the number of tokens deposited stays flat.
Sui TVL by category
The table groups every Sui protocol DefiLlama listed with at least $50,000 of Sui TVL on 31 October 2026. Each row counts protocols in full, including liquid staking and vaults that deposit elsewhere, so the rows add up to about $655 million, more than either headline figure.
| Category | Sui TVL, 31 Oct 2026 | Largest protocols (Sui TVL) | Our comparison |
|---|---|---|---|
| Lending | $352.3M | Suilend $142.8M, NAVI $141.2M, Current $55.5M, Scallop $8.9M | Aave alternatives on Sui |
| Liquid staking | $120.0M | SpringSui $57.5M, Haedal $35.5M, Volo $22.9M, afSUI $2.7M | Lido alternatives on Sui |
| DEXs | $61.8M | Cetus CLMM $24.9M, Bluefin Spot $11.7M, DeepBook V3 $11.5M, Momentum $3.5M | Uniswap alternatives on Sui |
| Real-world assets | $48.3M | Ember $36.0M, R25 $8.3M, KAIO $4.1M | Morpho alternatives on Sui |
| CDP stablecoins | $41.4M | Bucket V2 $26.9M, Bucket CDP $14.2M, Metastable $0.3M | MakerDAO alternatives on Sui |
| Yield, vaults and aggregators | $24.6M | Aftermath afLP $6.5M, Haedal Lending Vault $6.4M, Mole $4.1M, AlphaFi $1.9M (winding down) | Yearn alternatives on Sui |
| Derivatives | $4.9M | DipCoin Perps $1.9M, Bluefin Pro $1.5M, Sudo $0.7M | Hyperliquid alternatives on Sui |
| Bridges | $2.0M | Portal $1.8M, NEAR Intents $0.3M | Not counted in chain TVL |
The yield row combines several small DefiLlama categories: yield, yield aggregator, options vaults (Typus), leveraged farming (Kai Finance), risk curators (Volo Vault, MEV Capital) and onchain capital allocators (Upshift). Each holds under $7 million on Sui.
Lending: two big lenders and a newer third
Lending is more than half of Sui's DeFi deposits. Suilend and NAVI held about $142.8 million and $141.2 million on 31 October 2026, close enough that their order changes from week to week. Both peaked on 28 July 2025, Suilend at about $750 million and NAVI at about $661 million. NAVI added NAVI Prime, a set of separately curated lending markets aimed at funds, on 17 August 2026, according to eGamers.
Current, which DefiLlama first listed in March 2026, was third at about $55.5 million. DefiLlama describes it as an isolated lending market with one-click "multiply" positions. Scallop, one of Sui's first money markets, held about $8.9 million; our Scallop explainer covers how it works. AlphaFi's lending market (AlphaLend) and OmniBTC were near $2 million each. AlphaLend held about $74 million on 21 September 2026. On 25 September the Sui Network account posted that a misconfigured ALPHA price oracle had created bad debt in AlphaLend and that AlphaFi is winding down. Withdrawals are open; new deposits and borrows have stopped.
For head-to-head comparisons, see Aave vs NAVI, Suilend vs Scallop, NAVI vs Suilend and our broader Sui lending protocols compared. If you want lenders across many chains, our Aave alternatives guide is the multi-chain version.
Liquid staking: SpringSui leads
About $120 million of SUI sat in liquid staking tokens on 31 October 2026. SpringSui, from the Suilend team, led with about $57.5 million in its sSUI token; it peaked at about $336 million on 19 September 2025. Haedal (haSUI) had about $35.5 million and Volo (vSUI), which DefiLlama groups under NAVI, about $22.9 million. Aftermath's afSUI, AlphaFi's stSUI and Momentum's xSUI were each under $3 million. stSUI belongs to the winding-down AlphaFi, so holders should check its redemption status in the AlphaFi app.
These tokens are the reason DefiLlama separates liquid staking from the headline. A user who stakes SUI for sSUI and then supplies the sSUI to Suilend shows up in both SpringSui and Suilend. Our Sui liquid staking comparison covers fees, unstaking and DeFi support for each LST.
DEXs: Cetus, Bluefin and DeepBook
Sui DEXs held about $61.8 million and traded about $1.02 billion in the 30 days to 31 October 2026, per DefiLlama's volume dashboard. Cetus led both, with about $24.9 million in its concentrated-liquidity pools and about $425 million of 30-day volume. Bluefin Spot held about $11.7 million and DeepBook V3, Sui's onchain order book, about $11.5 million. DeepBook was second by volume at about $201 million, because market makers quote it and aggregators route through it. Turbos turned over about $166 million on $2.9 million of TVL, and Momentum held $3.5 million.
Order book and AMM work differently for traders and liquidity providers; DeepBook vs Cetus compares the two designs and our Sui DEX comparison covers fees and pool depth across all of them.
Real-world assets and CDP stablecoins
DefiLlama's RWA category on Sui held about $48.3 million. Ember, which issues tokenized funds and strategy vaults on several chains, had about $36.0 million of that on Sui. R25 launched its rcUSD and yield-bearing rcUSDp tokens on Sui in November 2025, according to the Sui Foundation, and held about $8.3 million. KAIO, which tokenizes institutional funds, had about $4.1 million. Morpho vs Ember compares Ember's curated vaults with the best-known Ethereum equivalent.
Bucket Protocol is Sui's largest CDP issuer: you lock collateral and mint its USDB stablecoin. DefiLlama tracks its two versions separately, about $26.9 million in Bucket V2 and $14.2 million in the older Bucket CDP. Our Bucket Protocol explainer covers how USDB is minted and kept near $1.
Yield, fixed yield and perps
Sui's yield category is fragmented. Aftermath's afLP vault, the market-making vault for its perpetuals exchange, held about $6.5 million. Haedal's lending vault, which places deposits in other Sui lenders, had about $6.4 million. Mole, AlphaFi's aggregator (now winding down) and Kai Finance follow. Our Sui yield optimizer comparison sets the strategy vaults side by side, and Pendle alternatives on Sui covers fixed-yield and yield-trading options.
Perpetual futures barely show up in TVL. DipCoin Perps, Bluefin Pro and Sudo held under $2 million each, because a perps venue only holds trader margin and its vault. Volume is the better gauge for them, and the Hyperliquid alternatives guide compares them on that basis.
Why Binance shows up in Sui data
DefiLlama's Sui pages also list centralized exchanges. On 31 October 2026 the wallets it tracks for Binance held about $542 million of Sui-chain assets, Bybit about $79 million and Bitget about $33 million, about $731 million across 14 exchanges in total. These rows come from DefiLlama's exchange-reserves dashboard, which tracks wallets belonging to centralized exchanges. The assets sit in an exchange's custody, so no smart contract lends or swaps them, and DefiLlama keeps them out of the chain's TVL. Leave them out of any DeFi total, as we do in the table above.
How to read DefiLlama's Sui numbers
A few habits avoid most misreadings:
- Say which toggle you used. $462 million and $605 million are both correct for 31 October 2026. They answer different questions.
- Don't add lending and liquid staking without thinking. An LST supplied to a lender appears twice. DefiLlama only removes double counting inside one protocol and through its "double count" flag, so cross-protocol loops can still overlap.
- Separate price from flows. Compare a protocol's TVL change with the SUI price over the same dates before reading it as users leaving.
- Treat borrowed separately. The $211 million borrowed series tells you how much credit Sui lenders have extended, which is a useful activity gauge in its own right.
- Check each protocol page. most DefiLlama adapters are contributed and maintained by the projects' own communities, per its methodology docs, so a sudden jump or drop can be an adapter change. Our best DeFi platforms on Sui guide covers the apps themselves.
Where JewelSwap fits
JewelSwap runs on Sui, MultiversX and Radix. On Sui it operates auto-compounded leveraged yield farms built on Scallop, on pairs such as suiUSDT-USDC and BTC pairs, boosted by a shared veSCA position funded by JWLSCA stakers' locked SCA; the Scallop farm guide explains the mechanics. It also has a dual-token liquid staking design, JWLSUI and SJWLSUI, with a 10-day unbonding period and a transferable claim NFT, and NFT-collateralized lending on Sui. JewelSwap is small next to the protocols in the table above.
Frequently asked questions
What is Sui's TVL in 2026?
About $462 million on 31 October 2026, per DefiLlama's default setting. Including liquid staking and double-counted value, it was about $605 million.
What was Sui's all-time high TVL?
About $2.64 billion on 9 October 2025, per DefiLlama, when SUI traded near $3.54.
Which Sui protocol has the most TVL?
Suilend, with about $142.8 million on 31 October 2026, just ahead of NAVI at about $141.2 million. The two swap places often.
Why does DefiLlama show Binance on Sui?
DefiLlama tracks centralized exchange wallets in a separate reserves dashboard. Those balances, about $731 million on Sui on 31 October 2026, are custodial and are not part of DeFi TVL.
Why did Sui TVL fall so much?
Mostly price: SUI fell about 74% from the October 2025 peak to 31 October 2026, and TVL is measured in dollars. The rest came from deposits leaving as incentive programs ended.
Educational only, not financial advice. Figures from DefiLlama and protocol docs, checked 31 October 2026; they change daily, and DeFi carries smart-contract, depeg and market risk.
