Sui Network’s lending ecosystem is seeing a wave of capital rotation, with Bitcoin flowing heavily into native protocols.
According to fresh data shared by Torero Romero, lending platforms on the Sui blockchain now hold over 2,100 BTC in aggregate, with Navi Protocol alone accounting for a commanding 61.79% share, nearly 1,300 BTC.
Navi’s dominance comes amid a broader uptick in DeFi activity across the Sui Network. The protocol now boasts over $630 million in TVL, a $24.8 million market cap, and more than $150 million in assets borrowed.
Daily token volume for NAVI sits around $4.36 million, while annualized fees and revenue are estimated at $11.5M and $6.3M, respectively. Its low token price of $0.051 and rising inflows suggest growing traction without speculative excess.
Price Action Pullback After 100% Rally
SUI has corrected to $3.31 after peaking near $4 in late April, following a near 100% rally in the past month. Part of this rally is attributed to hopes of a potential Sui ETF approval, filed by Canary Capital with the Securities and Exchange Commission (SEC).
Moreover, the SUI price saw a spike after it was announced that the team behind the blockchain is set to launch a virtual Mastercard, allowing users to buy crypto across Europe.
But Sui Network’s Indicators remain bullish despite the pullback.
On the daily chart, SUI holds above the 21 EMA ($3.05) and 50 SMA ($2.54), maintaining structure after the breakout. RSI at 64 and Stoch RSI above 68 reflect a strong but cooling trend. The MACD remains in bullish territory, though momentum has slowed.
TVL on Sui sits just above $2.05 billion, while its stablecoin market cap has climbed to nearly $900 million. DEX volumes remain robust at over $330 million in the past 24 hours, with steady inflows above $ 220 K.
Key lending players include Suinlend with 37.4% BTC share, and Scallop with a minimal 0.79%, reinforcing Navi’s grip on the lending landscape.
Sui Network’s Lending Momentum Could Support New Highs
If inflows continue and SUI maintains support above $3.05, another leg higher could form as institutional and retail interest in Bitcoin-collateralized lending grows.
The concentration of BTC in Navi Protocol highlights user trust in its mechanics and risk profile, positioning it as the go-to money market within the Sui DeFi stack.
Sustained revenue and fee generation across the ecosystem further underscore the protocol’s staying power, especially if TVL continues climbing through May.
Read more: What is Sui Network? Exploring the Solana Killer
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
