Sui Price Sinks Amid Depressed On-Chain Metrics and Waning Investor Interest

Sui (SUI) has taken a beating this year, with its price plummeting by 46%. On-chain metrics show that crypto investors have largely abandoned the layer-one blockchain. Market conditions have deteriorated significantly due to rising inflation expectations and geopolitical tensions.

Developers have lost interest in Sui as capital flows towards more promising areas of tech like artificial intelligence (AI). As a result, on-chain metrics for SUI are heavily depressed. Stablecoin balances, which peaked at $1.6 billion in May 2025, have dropped to $492 million.

App fees, which reflect the total amount collected by Sui's DeFi and payment applications, have also plummeted to their lowest levels since July 2024. Meanwhile, DEX volumes are down by 92% compared to their October all-time high.