Grand Cayman, Cayman Islands, February 15th, 2024, Chainwire
Wormhole information reveals almost $310 million in properties bridged from Ethereum to Sui over the last month — more than all other blockchains integrated.
Sui, a Layer 1 blockchain that has knowledgeable explosive development consideringthat its creation 9 months ago, is seeing a significant migration of funds from Ethereum to the Sui community, with almost $310 million worth of possessions streaming through the Wormhole Portal in the past 30 days. The information is provided by wormholescan.io, which tracks the circulation of funds through Wormhole, one of the most crucial cross-chain bridges for covered tokens and NFTs, and the one most utilized on the preeminent decentralized exchange, Uniswap.
As the Sui community hasactually been acquiring exceptional traction throughout the past month – exceeding $600M in Total Value Locked and gettingin the leading 10 of DeFi environments – the information from Wormhole reveals that the origin of a lot of these funds is Ethereum. Of the practically $500M worth of funds that were bridged from Ethereum through Wormhole in the last 30 days, over 64% of it was moved to Sui — more than all of the funds sentout to Solana, Arbitrum, Polygon, and every other chain integrated.
According to the Wormhole information, most of these bridged properties are stablecoins, with USDC and USDT bridged to Sui accounting for $134M and $78M of the volume respectively.
source: wormholescan.io
“The occurrence of users moving properties to Sui shows a growing belief in the strength of Sui’s underpinning innovation and the neighborhood of contractors, designers, and lovers that power the environment,” stated Greg Siourounis, Managing Director at the Sui Founda