2025-12-29 20:25:40

The recent competitive landscape of the SUI chain DEX ecosystem is quite evident, with a clear leader emerging. Cetus dominates the market, capturing 43% of the TVL, with a scale of over 80 million USD, and the second place is hardly visible. The gap is quite significant.

Each of the following projects has its own way of operating. DeepBook, as an underlying CLOB infrastructure, also accounts for about 10 to 20 million USD in share, and although its scale is not large, its role in the ecosystem is crucial. Turbos has taken a somewhat unique approach — instead of following the trend of pure AMMs, it has chosen a hybrid technical solution combining AMM and order book. The differentiation in technical routes might create opportunities for dislocation competition.

From this perspective, the competition in the SUI chain DEX is not entirely a red ocean; rather, different projects are showcasing their strengths in technology and mode, and the market pattern is still in the exploration stage.

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MEVictim

· 5h ago

Cetus is so self-serving, 43% of TVL is really impressive... But speaking of Turbos, that hybrid model is indeed interesting, it feels like they're trying to find a differentiated path.

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GasFeeLover

· 5h ago

43% of the TVL has been taken by Cetus, it's really outrageous... How are other projects surviving? --- Turbos' hybrid solution is quite interesting, maybe it can overtake on a bend. --- DeepBook may be small in size but it definitely secures its position, this is the smart way to play. --- The competition among SUI DEXs is far from over, the landscape is still being shaped. --- With Cetus's aggressive blitz, do other projects still have a chance? --- Dislocated competition is the way out; pure AMMs can no longer keep up. --- A monopoly will inevitably collapse; SUI DEX will eventually undergo reshuffling. --- The leading effect has been established, but that doesn't mean the game is over.

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WalletManager

· 5h ago

Cetus 43% This number is too outrageous. Once the leading effect is formed, it's very hard to break. However, I am a bit interested in the Turbos hybrid plan; misaligned competition is indeed a way out.

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SillyWhale

· 6h ago

Cetus's 43% is indeed a bit outrageous, feels like other projects are just along for the ride? However, the Turbos hybrid approach is not bad, at least it hasn't been completely crushed.

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