Sui Network Hits $65B Stablecoin Volume Milestone After Fee Removal

Key Facts

In a move reflecting the intensifying competition among blockchain networks to attract liquidity, Sui Network has achieved a record surge in operational activity. According to reports, the network settled nearly $65 billion in stablecoin volume since June 10. This massive spike is directly attributed to a new protocol update that made stablecoin movements fee-free, incentivizing both retail and institutional users to increase on-chain activity.

These figures arrive amidst fierce competition with major networks like Solana and Ethereum, as Sui seeks to capture market share by aggressively lowering transaction costs. Per market data, the removal of fees has accelerated institutional adoption compared to previous quarters, although analysts note that the fee-free nature of these transactions may inflate total volume metrics through high-frequency movements.

Traders are now monitoring the sustainability of this growth as market sentiment remains sensitive to broader economic catalysts, such as the U.S. inflation data released on June 10.