The Sui blockchain is becoming one of the most dynamic Layer 1 ecosystems, and May 2025 is a crucial month for the network. Several tokens are gaining popularity in the DeFi, DePIN, and meme coin narratives.
This article explores the top Sui-based tokens that are making headlines this month. We will evaluate their fundamentals, market performance, and on-chain activity to help you identify which projects will likely be relevant in the long run.
Tangem integrates SUI network tokens
The Tangem Wallet has officially integrated support for the Sui blockchain. This is a significant development for users looking for secure hardware access to the rapidly growing Sui ecosystem.
This integration, introduced in version 5.22 for iOS and Android, allows users to manage SUI tokens and interact with Sui-blockchain assets directly within the Tangem app.
The update includes support for tokens such as DEEP, CETUS, and FDUSD, making it easy for users to manage these assets within the wallet interface.
Top 10 SUI Projects in May 2025
Sui (SUI)
Sui is a next-generation Layer 1 blockchain developed by Mysten Labs, a team of former Meta engineers. Launched in May 2023, Sui is designed for high-speed, low-latency transactions. It is ideal for real-time applications like gaming, decentralized finance (DeFi), and other responsive services.
Its architecture emphasizes immediate transaction completion and high throughput, with smart contracts written in Move, a Rust-based programming language optimized for fast, secure transaction execution.
As of May 2025, Sui has achieved significant milestones in market capitalization and total value locked (TVL). The network's market cap reached approximately $15.3 billion, placing it among the top cryptocurrencies by market capitalization. Sui's DeFi ecosystem surpassed $2 billion, reflecting robust growth and adoption.
CA: 0x2::sui::SUI
Cetus Protocol (CETUS)
Cetus Protocol is a decentralized exchange (DEX) and concentrated liquidity protocol operating on the Sui and Aptos blockchains. It uses a Concentrated Liquidity Market Maker (CLMM) model, allowing liquidity providers to allocate assets within specific price ranges, thereby enhancing capital efficiency and reducing slippage.
Cetus also offers features like range orders and position NFTs, enabling users to implement complex trading strategies. The protocol supports "Liquidity as a Service," facilitating easy integration for developers to build applications such as liquidity vaults and derivatives.
Cetus Protocol's market capitalization is approximately $70 million. Its native token, CETUS, trades at around $0.10. The total value locked (TVL) in the protocol exceeds $220 million, and its cumulative trading volume has reached over $13 billion.
The protocol has a strong user base with nearly 2 million users and daily trading volumes reaching up to $194 million. It maintains an active GitHub repository, indicating ongoing development and improvement.
DeepBook is a decentralized on-chain order book protocol built on the Sui blockchain. It is designed to provide deep liquidity and efficient price execution for DeFi apps. It serves as a foundational liquidity layer, integrating with various decentralized exchanges (DEXs) and aggregators to enhance trading experiences within the Sui ecosystem.
DeepBook's native token, DEEP, is trading at approximately $0.0875, with a market capitalization of around $219 million and a 24-hour trading volume of $14 million. The protocol has a Total Value Locked (TVL) of about $21.6 million, resulting in a Market Cap to TVL ratio of approximately 10.14.
This ratio suggests that while the protocol has a significant market valuation, the amount of assets actively utilized within its ecosystem is lower, indicating potential areas for growth in user engagement and asset utilization.
DeepBook's role as a central liquidity venue has been pivotal in driving the adoption of DeFi apps on Sui, positioning it as a key player in the network's financial landscape.
Suilend is a decentralized lending and borrowing protocol built on the Sui blockchain. The platform allows users to deposit assets to earn interest and borrow against their holdings. It also integrates features like liquid staking through SpringSui. It plans to introduce a Superfluid Automated Market Maker (AMM) called STEAMM.
As of May 2025, Suilend has achieved a Total Value Locked (TVL) of approximately $734 million, making it the leading DeFi protocol on the Sui network. The platform supports various assets, including SUI, sSUI, USDT, and USDC, and offers competitive interest rates.
Suilend's rapid growth and the introduction of innovative features like SpringSui and the upcoming STEAMM AMM indicate a strong commitment to expanding and enhancing its services within the DeFi ecosystem.
Scallop (SCA) is a decentralized finance (DeFi) protocol built on the Sui blockchain. It is designed for peer-to-peer lending and borrowing. The platform offers a comprehensive money market with various tools, including high-interest lending, low-fee borrowing, automated market making (AMM), and digital asset management options.
Scallop's native token, SCA, is trading at approximately $0.078, with a market capitalization of around $7.5 million. The protocol has achieved a total value locked (TVL) of approximately $124 million, indicating high user engagement and trust.
Scallop's reliability is further confirmed by its strong community support. More than 27 million SCA tokens, representing more than 10% of the total supply, have been locked for an average period of 3.72 years.
Sui Name Service (NS) is a decentralized naming protocol built on the Sui blockchain. It allows users to register human-readable names (e.g., yourname.sui) that map to complex wallet addresses, smart contracts, and decentralized applications.
As of May 2025, the NS token, which powers SuiNS, trades between $0.10 and $0.14, with a market capitalization ranging from $17 million to $24 million. The circulating supply is approximately 171 to 176 million tokens out of a maximum supply of 500 million.
The 24-hour trading volume varies between $1.3 million and $4.3 million, indicating moderate liquidity.
Sudeng is a community-driven meme coin built on the Sui blockchain. Inspired by Moo Deng, a baby hippo from Thailand's Khao Kheow Open Zoo, the project combines meme culture with a philanthropic mission.
A portion of its profits is donated to wildlife conservation efforts, starting with support for the zoo housing Moo Deng.
HIPPO is trading at approximately $0.00201, with a market capitalization of around $20 million and a 24-hour trading volume exceeding $24 million. The token has a circulating supply of 10 billion, which is its maximum supply.
LOFI the Yeti is another community-driven meme coin built on the Sui blockchain. It represents a collective mission to create a thriving, forward-thinking ecosystem.
As of May 2025, LOFI has a market capitalization of approximately $30.65 million, with a circulating supply of 1 billion tokens. Its 24-hour trading volume is around $3.09 million, indicating active market participation.
LOFI's trading activity suggests a growing user base and adoption within the Sui ecosystem. Its presence on multiple exchanges and wallets and consistent trading volume reflect a level of trust among users. However, like all meme coins, it carries inherent risks and volatility.
Axol (AXOL) is a meme-inspired cryptocurrency on the Sui blockchain. It is themed around the axolotl—a unique amphibian known for its regenerative abilities. Launched in early 2025, AXOL aims to capture the meme coin market with its playful branding and community-driven approach.
The token's slogan, "No promises, just vibes," emphasizes its focus on community engagement over formal utility.
As of May 2025, AXOL has experienced significant price volatility, with an all-time high of $0.0791 and a current price of around $0.000095. AXOL has a substantial holder base, with approximately 74,821 holders. The token is traded on decentralized exchanges like Cetus, and its liquidity pools reflect active participation.
Fud the pug is a meme coin designed to reward early NFT communities and builders within the Sui ecosystem. Branded around a pug, it aims to make the crypto community more fun and engaging while highlighting the unique technological opportunities that Sui offers.
As of May 2025, FUD has a circulating supply of approximately 57.5 trillion tokens and a maximum supply of 100 trillion. Its market capitalization is around $2.37 million, and its 24-hour trading volume is approximately $153,582.
FUD has been integrated with various platforms such as FUDbot, Suilend, and Pyth Oracle, indicating some level of adoption. However, meme coins are inherently volatile and speculative. You must exercise caution and conduct thorough research before investing.
For users interested in the Sui ecosystem, Tangem Wallet is a great choice. It offers a reliable and secure way to manage SUI tokens and interact with Sui-based dApps. The wallet has several advanced security features and a user-friendly interface, making it a great choice for both new and experienced crypto users.
This content is provided for informational purposes only and should not be construed as investment advice. Investing in Web3 and cryptocurrencies involves risks. It is essential to conduct your own research before engaging with any Web3 apps or cryptocurrencies.
Tangem AG provides only hardware wallets and non-custodial software solutions for managing digital assets. Tangem is not regulated as a financial services provider or cryptocurrency exchange. Tangem does not hold, custody, or control users’ assets or transactions. Crypto transaction services are provided by third-party providers. Tangem provides no advice or recommendation on the use of these third-party services.
Staking and yield generation services are provided by third-party blockchain protocols and decentralized finance (DeFi) platforms. Tangem provides non-custodial access only. Earnings from staking are not guaranteed, may fluctuate significantly, and depend entirely on network or protocol conditions. Users participate at their own risk.
