Haedal (HASUI), a liquid staking protocol that allows users to stake their assets on the Sui blockchain, has experienced impressive growth over the past month. On-chain metrics show that Haedal’s daily active wallets and TVL have surpassed its major rivals (DeFi protocols) on the Sui network.
Haedal’s DAWs Flips Wave
Utility on the Haedal network has risen recently. According to today’s data, as posted in X, Haedal has jumped into third place among all DApps on the Sui network in terms of the number of daily active wallets (DAWs).
Haedal is ranked the third position with 44,162 daily active wallets. It is behind Sui, which has 63,828 daily active wallets and Record, which currently controls 89,192 DAWs. As per the data, Haedal stands above Wave.
The surge in trading activity indicates that Haedal is attracting an increasing customer base, and more crypto users are showing interest in interacting with its ecosystem.
Data from DefiLlama also shows that Haedal is the fourth largest DeFi protocol on the Sui network in terms of TVL. Its TVL currently stands at $159.48 million, behind Cetus AMM’s $173.07 million, Navi protocol’s $350.06 million, and Suilend protocol’s $408.87 million.
Haedal price updates
HASUI is making an impressive market resurgence following substantial price decreases over the past month. The asset had witnessed a price decline of 21.5% and 19.8% over the past month and two weeks ago respectively. However, the asset recently experienced a breakout from the downtrend. Its price has been up 7.6% and 4.2% over the past seven days and 24 hours ago respectively.
While the wider digital asset market has been going through an increased volatility, Haedal’s recovery indicates that there could be unique factors supporting its remarkable performance. The major factors responsible for this uptrend lie in the increased activity in its ecosystem.
The key factor that triggered Haedal’s ongoing price recovery is the notable rise in activity on its liquid staking ecosystem. The data above shows that the number of monthly active addresses has increased and remains stable, showing positive investor sentiment toward the platform.
This shift signifies a wider trend toward DeFi applications, as more investors are looking for more control of their assets and trading activities. Metrics above indicate that Haedal’s DeFi ecosystem is seeing a rapid growth, indicated by the increase in TVL on its platform. This rise shows increased confidence in Haedal’s innovative offerings and future potential.
The growth in daily active addresses and TVL on Haedal’s suggest increased numbers of users are participating in the decentralized staking platform, which could contribute to the continued price upward movement for HASUI. As more users interact with Haedal’s platform, the crypto asset could experience sustained demand and uptrend.
