This article explores the top Sui-based tokens that could make 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.
Core Insights
Sui has had an eventful year and a half since our last update. SUI itself hit an all-time high of $5.35 back in January 2025, then went through a brutal drawdown that took it as low as $0.63 during a February 2026 capitulation, before a brief institutional-staking-driven rally pushed it back above $1.30 in May. As of mid-July 2026, SUI trades in the $0.70-0.75 range, with a market cap of roughly $2.7-3.1 billion, putting it in the top 30 cryptocurrencies by market cap but still down more than 80% from its all-time high.
The network's DeFi ecosystem has followed a similarly volatile path. Total value locked peaked near $2.5-2.6 billion in late 2025 before pulling back sharply to roughly $570 million by mid-2026, a decline that reflects both the broader altcoin downturn and some Sui-specific security setbacks. Most notably, Cetus Protocol, the ecosystem's largest DEX, suffered a $223 million exploit in May 2025, and a separate incident involving the DEX BlueMove made headlines again in July 2026. That said, the ecosystem keeps growing on other fronts: active projects on Sui now number more than 30, DeepBook is rolling out a v3 upgrade with margin trading, and a native USDsui stablecoin with gasless transfers launched in early 2026.
Tangem integrated the SUI network tokens
The Tangem Wallet supports the Sui blockchain, which is great news for users wanting secure hardware access to the Sui ecosystem. Users can manage SUI tokens and access Sui assets directly in the Tangem app, including DEEP, CETUS, and FDUSD, making it easier to manage these assets in the wallet.
Top 10 SUI Projects in July 2026
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 July 2026, SUI trades around $0.70-0.75, with a market cap of roughly $2.7-3.1 billion, ranking it among the top 25-30 cryptocurrencies. That's a steep comedown from its January 2025 all-time high of $5.35, though the network's fundamentals, including active project count and stablecoin volume, have continued to grow even as the token price struggled. The next scheduled unlock, on August 1, 2026, will release around $10 million in SUI, a relatively modest 0.14% of the total supply. 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, enabling liquidity providers to allocate assets across specific price ranges, thereby improving capital efficiency and reducing slippage.
Cetus is also the subject of one of the most important security events in Sui's history. On May 22, 2025, an attacker exploited an integer-overflow bug in a shared third-party math library to drain roughly $223 million from Cetus's Sui-based pools, one of the largest DeFi hacks of that year. Sui validators managed to freeze around $162 million of the stolen funds before they could be fully laundered, and Cetus relaunched on June 8, 2025, after restoring 85-99% of affected liquidity using recovered funds, its own cash reserves, and a loan from the Sui Foundation. In the immediate aftermath, CETUS fell from around $0.26 to $0.13, and SUI itself dropped nearly 14% amid systemic risk concerns.
Cetus has since stabilized and rebuilt trading activity, re-entering the top 10 DEXs by volume within 24 hours of relaunching, but the episode remains a useful case study in how a single library-level bug can ripple across an entire ecosystem. It's also a reminder that even audited, widely used protocols carry smart-contract risk that no amount of due diligence on the user's end can fully eliminate.
DeepBook is a decentralized on-chain order book protocol built directly into Sui's infrastructure rather than deployed as a separate application. It is designed to provide deep liquidity and efficient price execution for DeFi apps, serving as a foundational liquidity layer that other exchanges and aggregators plug into across the Sui ecosystem.
DeepBook's native token, DEEP, has a market cap exceeding $100 million as of mid-2026. The protocol has processed over $8.7 billion in cumulative trading volume and served more than 10 million users since launch, burning tens of millions of DEEP tokens from trading fees along the way. A DeepBook v3 upgrade rolling out in 2026 adds margin trading capabilities and a referral commission model, aimed at deepening DeFi activity and drawing in more sophisticated traders.
DeepBook's role as a central liquidity venue continues to make it one of the more structurally important tokens in the Sui ecosystem, even as trading volumes across DeFi have cooled from their 2025 highs.
Suilend is a decentralized lending and borrowing protocol built on the Sui blockchain, and remains one of the network's anchor lending platforms. The platform allows users to deposit assets to earn interest and borrow against their holdings, and it integrates features such as liquid staking via SpringSui alongside its Superfluid Automated Market Maker (AMM), STEAMM.
Suilend has weathered the broader pullback in Sui DeFi TVL better than some newer protocols, and it continues to rank among the network's most-used lending markets alongside competitors like NAVI. Typical yields on stablecoin deposits have ranged from the high single digits to the mid-teens, depending on market conditions, though, as with DeFi lending, rates fluctuate with utilization and shouldn't be treated as guaranteed.
Scallop (SCA) is a decentralized finance (DeFi) protocol built on the Sui blockchain, designed for peer-to-peer lending and borrowing. The platform offers a comprehensive money market with a range of tools, including high-interest lending, low-fee borrowing, automated market-making (AMM), and digital asset management.
Scallop has maintained a loyal base of long-term token lockers, and a meaningful share of the total SCA supply has historically been locked for multi-year periods, reflecting a degree of community conviction that's held up better than the token's price. As with the rest of Sui DeFi, TVL across lending protocols has pulled back from 2025 peaks alongside the broader network downturn, though Scallop remains an active, functioning money market on the chain.
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. Naming services like this tend to be less exposed to the sharp price swings of DEX or lending tokens, since their value is tied more to registration volume and utility than speculative trading.
Sudeng is a community-driven meme coin built on the Sui blockchain. Inspired by Moo Deng, a baby hippo at Thailand's Khao Kheow Open Zoo, the project combines meme culture with a philanthropic mission, donating a portion of its profits to wildlife conservation efforts, starting with support for the zoo that houses Moo Deng.
Like most meme coins, HIPPO's price and market cap have swung significantly along with broader risk appetite across the Sui ecosystem and crypto markets generally through 2025 and 2026. Meme coins carry inherent volatility regardless of the underlying network, and that's remained true here.
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.
LOFI's continued presence on multiple exchanges and wallets reflects an ongoing base of community support, but like all meme coins, it carries inherent risks and volatility that have only been amplified by the choppier conditions across Sui DeFi over the past year.
Axol (AXOL) is a meme-inspired cryptocurrency on the Sui blockchain, 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, and it has maintained a sizable holder base trading on decentralized exchanges like Cetus.
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.
FUD has integrated with various platforms such as FUDbot, Suilend, and Pyth Oracle, indicating some level of adoption beyond pure speculation. Still, meme coins are inherently volatile and speculative, and Sui's mixed year of security incidents and price swings is a good reminder to exercise caution and conduct thorough research before investing in any of them.
Worth flagging separately: Cetus's $223 million exploit in May 2025 wasn't an isolated event. Volo, a liquid staking protocol on Sui, was hit for roughly $3.5 million in early 2026, and in July 2026, the DEX BlueMove came under scrutiny after allegedly draining over 700,000 SUI from its own liquidity pools. None of these is unique to Sui specifically; fast-growing DeFi ecosystems on any chain tend to attract exploits, but the pattern is worth keeping in mind. Sticking to well-audited protocols, avoiding putting more into any single DeFi position than you're prepared to lose, and being cautious with third-party bridges remain sound advice on Sui, just as they do elsewhere.
Conclusion
For users interested in the Sui ecosystem, Tangem Wallet is a great choice. It provides a reliable, 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, especially given the security incidents that have punctuated Sui DeFi's growth over the past year and a half. Self-custody of your keys via a hardware wallet doesn't protect you from a protocol-level exploit, but it does keep your holdings out of the custodial and exchange risks that have hurt investors in past cycles.
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.
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