Sui Network, a relatively new player in the cryptocurrency space, has recently experienced a remarkable surge in transaction volume, signaling significant growth for the network.
Various indicators have shown positive trends, highlighting its potential. However, amidst this exciting progress, some metrics have appeared unaffected by the impressive developments.
The surge in transactions and active addresses within the Sui network has been noteworthy. According to a recent report by Artemis, transaction activity began to spike around July 4th, with approximately 400,000 transactions recorded at that time.
Since then, the number of transactions has skyrocketed to over 1.2 million, surpassing a total of 244 million transactions within the past 30 days. This represents an astonishing increase of over 3,000%.
In addition to the surge in transactions, the network’s active account count also experienced a significant bump. While the number of active accounts peaked at over 30,000 around July 7th and has since receded, it currently stands at over 18,000. This surpasses the previous highest recorded number of approximately 13,000 before the spike occurred.
The recent surge in transactions on the Sui network can be attributed to the launch of a captivating game called Game 8192.
This game has generated transaction blocks with each play, contributing to the notable increase in transaction activity.
The high volume of transactions indicates a substantial influx of enthusiastic players engaging with the game on the network.
However, not all metrics have seen the same level of growth. The new account metric has displayed a relatively stagnant trend, showing limited growth in this aspect. According to Sui Explorer, the number of new accounts recorded was 87 at the time of writing.
Similarly, the Total Value Locked (TVL) on the platform, as reported by DefiLlama, has not experienced any significant increase. The TVL currently hovers around $13.1 million, with no discernible signs of substantial movement.
