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Here’s an update on what has been happening in the Sui Network during October, so far.
Since our last update on Sui, a lot has happened. That should come as no surprise, after the intro. So, the best move is to dive straight into this.
Figure Markets launched a yield bearing stablecoin, $YLDS. What sets this stablecoin apart is that it’s SEC-registered. Because it yields interest, under U.S. law it’s classified like a security. So, not as a typical stablecoin. That’s why it’s registered with the SEC.
YLDS, Figure’s SEC-registered, yield-bearing stablecoin, will be issued natively on Sui.
This partnership brings:
• USD on/off-ramps through YLDS
• SUI as a potential collateral on @Figure
• Compliant, scalable DeFi infrastructureLearn more 👇https://t.co/r3FNaL2Dygpic.twitter.com/7yULoevRNt
— Sui (@SuiNetwork) October 14, 2025
Fast-forward, as of October 14th, $YLDS will be natively issued on Sui. It accrues interest daily and disburses this monthly, in $USD or $YLDS. It aims to combine the stable value of a dollar-pegged asset with a passive yield. This is rare among stablecoins. It also provides flexibility compared to traditional securities. That’s because it’s transferable peer-to-peer 24/7.
Since we’re already talking about stablecoins, here’s an update on Sui’s native $USDC. You can now withdraw and deposit this from the ByBit exchange. The extra kicker is the withdrawals are without fees. This started on October 14th until further notice. This makes it easier to move your $USDC around.
Bybit now supports #USDC on @SuiNetwork!
✅ USDC-Sui deposits and withdrawals now open!
⏰ Zero Fee Validity Period: Oct 14, 10AM UTC until further notice#Bybit#Sui#CryptoArkpic.twitter.com/KN5aKwKFaJ— Bybit (@Bybit_Official) October 14, 2025
And here’s one more stablecoin news update. This time it’s about $suiUSDe, a Sui-native synthetic dollar token powered by Ethena. As you may know, Ethena has its $USDe synthetic dollar. Now it will be available on Sui as a proprietary Sui-native synthetic dollar token. With the revenue of $suiUSDe, Sui and the Sui Group will buy more $SUI.
The countdown begins for suiUSDe arriving on Sui.
A living, player-built galaxy of thousands of star systems powered by Sui’s scalable, composable architecture.
The future of virtual worlds runs on Sui.
Learn more 👇https://t.co/3rtR9y2twupic.twitter.com/uxMeglm3aW
— Sui (@SuiNetwork) October 8, 2025
This partnership involves Sui, the SUI Group Holdings Limited, and Ethena. And more stablecoins are coming to Sui. The BlackRock USD Institutional Digital Liquidity Fund also has a new stablecoin. This is their tokenized money market fund. Their new stablecoin is $USDi. This should be launched on Sui in Q4, 2025.
The Sui Fest during Token2049 in Singapore was a great success. Many declared Sui Fest as the best event during Token2049. During Sui Fest, we saw, among others,
And here’s an interesting development that came after Sui Fest. Kevin O’Leary, aka Mr. Wonderful, was a guest speaker at Sui Fest. You may know him from the Shark Tank TV show. After Sui Fest, he decided to invest in Sui.
I find that all roads from security and speed are leading to the Sui network. This chain was founded by Evan Cheng who left Facebook years ago and formed Mysten Labs. That community is on fire because they’re solving for speed for enterprise. I’m investing in that and it’s going… pic.twitter.com/efP9JJD4x3
— Kevin O’Leary aka Mr. Wonderful (@kevinolearytv) October 10, 2025
With Eve Frontier, we landed in blockchain gaming. This is a new space survival MMO game by CCP Games. That’s the same group that brought us EVE Online. It’s a virtual world that’s powered by Sui’s scalable, composable architecture.
The universe of @EVE_Frontier, from the creators of @EveOnline, is expanding on Sui.
A living, player-built galaxy of thousands of star systems powered by Sui’s scalable, composable architecture.
The future of virtual worlds runs on Sui.
Learn more 👇https://t.co/3rtR9y2twupic.twitter.com/uxMeglm3aW
— Sui (@SuiNetwork) October 8, 2025
Although we recently had this massive crypto crash, Sui DEX Volume and TVL are very strong. The DEX volume on Sui hit a new ATH earlier in October. The DeFiLlama chart below shows this. Total TVL remains above $2 billion, despite the crash.
Source: DeFiLlama
Despite the crash, the volume on Sui is up by a staggering 69% over the last 7 days. That shows real strength and resilience.
🔥 HOT: $SUI Volume is up 69% in the past 7 days. pic.twitter.com/njKqTqNcRM
— Marc Shawn Brown (@MarcShawnBrown) October 16, 2025
In a recent update, Sui co-founder Adeniyi Abiodun and CPO at Mysten Labs had good news to share. In his latest X post, he mentions that Sui has impressive dev growth. Sui Network launched only two years ago. Still, it manages to have more active devs compared to longer existing chains.
In just 2 years #Sui dev growth is outpacing chains that have been here for much much longer. Higher!! https://t.co/JRaxeS48x5
— Adeniyi.sui (@EmanAbio) October 16, 2025
During SuiRL in Bali, earlier this year, Sui devs growth was mentioned. Sui will start to focus on developer growth in the year to come. So, expect more ecosystem growth.
So, we see that Sui Network keeps delivering. That’s despite the recent crypto crash. News keeps on coming in fast and furious. At the same, the metrics don’t lie and show that Sui manages to hold its ground in difficult times.
The current $SUI price is $2.68. Everything under $3 feels like a steal! Its market cap is $9.7 billion. Out of 10 billion $SUI tokens, already 3.6 billion tokens circulate. And remember, $SUI is deflationary.
By Altcoin Buzz
3 months ago
