Sui extended its growth streak in Q3 2025 across markets, liquidity, and core infrastructure. Average daily DEX volume reached a new high of $456.0 million, up 24.0% QoQ, while DeFi TVL rose 19.9% to $2.11 billion and 2.2% in SUI terms. SUI’s circulating market cap increased 23.3% to $11.63 billion, outpacing the broader market. Offsetting these gains, total network fees declined 11.1% to $3.8 million, and fees in SUI fell 22.3% as activity normalized, with average daily transactions down 4.7% and daily active addresses down 9.5%. Network security remained robust with 75.4% of the eligible supply staked and the validator set reaching 122. Institutional access accelerated and diversified. Grayscale launched the Walrus and DeepBook Trusts, SUIG established a $450.0 million SUI treasury vehicle, and Fireblocks, Sygnum Bank, and AMINA Bank added regulated custody and trading. Retail reach expanded with a Robinhood listing. On the infrastructure side, Sui shipped production passkeys, launched Seal on Mainnet, and introduced Ika Network for MPC-based multichain coordination. The project team also broadened data and interoperability through gRPC APIs, GraphQL RPC and indexing, Dune integration, and LayerZero connectivity. DeFi depth grew with Suilend, NAVI, and Momentum, while BTC liquidity arrived via tBTC. Consumer and real-world integrations advanced through gaming launches, ATP and Team Liquid fan experiences, Matrixdock’s gold token, Alkimi’s ad stack, and t’order’s KRW stablecoin initiative. Looking ahead, Sui enters Q4 focused on scaling cross-chain coordination, hardening security with the Ecosystem Security Expansion Initiative, and compounding developer productivity across the Walrus, Seal, and DeepBook stack to support the next wave of institutional and consumer applications.