# Solana Maintains Lead as Sui Records Explosive Growth in Weekly DEX Volume
The decentralized exchange (DEX) trading volume in the cryptocurrency market reached $100.585 billion from December 7 to December 13, marking a 1.64% decrease from the previous week, according to the on-chain analysis platform DeFiLlama.
# Solana and Ethereum Show Steady Strength
Solana led the market with a weekly trading volume of $30.5 billion, securing a market share of 33.65%. Despite a modest 1.15% weekly increase, Solana solidified its dominant position.
Ethereum maintained its second place with a trading volume of $24.5 billion, capturing 24.89% of the market share. With a 9.8% weekly growth rate, Ethereum outpaced Solana, further bolstering its market influence.
# Sui (SUI) DEX Posts 59.49% Explosive Growth
The standout performer this week was Sui, a Move-based protocol, which recorded a weekly trading volume of $2.59 billion, a staggering 59.49% increase. Sui also accounted for 4.32% of the DEX total value locked (TVL), underscoring its rapid growth. Analysts attribute this surge to the rapid expansion of the Sui ecosystem and increased platform liquidity.
Within the Sui ecosystem, the decentralized exchange Cetus emerged as a key driver of DeFi growth. Although Cetus reached a TVL peak of $155 million in early June, its liquidity value more than halved within a month. However, it rebounded by over 154% after falling below $70 million in early August, with a 90% surge in the past month alone highlighting its recovery.
The announcement of Backpack’s integration with the Sui blockchain also positively impacted ecosystem growth. Backpack, a platform that recorded $60 billion in transaction volume across more than 150 countries within its first year, is expected to significantly enhance Sui’s accessibility.
According to CoinGecko, Sui (SUI) was trading at $4.6 as of December 13, reflecting a 55.9% increase from a month ago and a 639% rise year-over-year. K33 Research lauded Sui as “a blockchain with potential comparable to Solana, serving as a viable Layer 1 alternative to Ethereum.”
# Avalanche and Tron Suffer Double-Digit Declines
In stark contrast, Avalanche and Tron recorded disappointing performances. Avalanche saw its weekly trading volume fall by 22.99% to $211 million. Tron and Polygon also experienced significant drops, with decreases of 23.87% and 16.27%, respectively, due to reduced liquidity and declining trader interest in these networks.
DeFiLlama emphasized, “Changes in DEX trading volume are critical indicators of each network’s growth potential, warranting close observation to gauge market trends.” The significant growth spearheaded by Sui hints at evolving dynamics and potential within the DeFi market, drawing attention to future ecosystem developments.
