Sui's native stablecoin, USDsui, has reached a record supply of $80 million, according to data from DeFiLlama. Issued by Stripe's Bridge, the stablecoin has grown 20.5% over the past 90 days, reflecting increasing stablecoin activity on the network.
During the same period, Sui's total value locked (TVL) rose over 20%, reaching $530 million. This growth suggests that stablecoin expansion is contributing to broader ecosystem development as capital flows into the Layer 1 blockchain.
Several recent developments on Sui appear to support stablecoin and ecosystem growth. The Sui Foundation launched a $30 million investment in DATA Network to expand AI-related infrastructure. Additionally, the Sui Foundation and Mysten Labs partnered with OpenAssets to implement the Open Tokenized Asset Standard on Sui, aimed at increasing adoption of tokenized assets.
Sui has also repurchased 830,300 SUI tokens, worth approximately $646,000, using yield from stablecoin reserves. Sui's stablecoin market cap crossed $480 million for the first time since the third quarter peak, potentially enabling additional buybacks going forward.
Rising stablecoin supplies across blockchains have increasingly been viewed as indicators of ecosystem activity. Beyond serving as a measure of capital inflow, expanding stablecoin use cases spanning payments, cross-border transfers, and treasury accumulation can signal growing utility and potential for wider adoption.
