Cetus Price Up 26%: SUI DEX Starts Meme Season

Moreover, the Cetus price is up 44.% for the week.

According to CoinGecko data, the Cetus price has been upward for the past week. On Sept. 24, the price fell to $0.10—its lowest point during this period. By the following day, CETUS had climbed to $0.13.

The Cetus price hovered between $0.12 and $0.13 for several days. However, on Sept. 29, the price began to spike rapidly, jumping from $0.13 to the current $0.17.

The Cetus price history for the last 7 days. Source: CoinGecko

What is Driving the Cetus Price Increase?

Cetus Protocol describes itself as a decentralized exchange (DEX), leveraging the growing Sui blockchain (SUI). The Sui has been one of the strongest-performing chains in the crypto market in recent weeks, contributing to the rising interest in projects built on its network.

On Sept. 23, Cetus launched a “Meme Season” campaign aimed at showcasing meme coins within the Sui ecosystem. Each week, the protocol will highlight the most active pools featuring Sui or CETUS trading pairs. The winners will receive additional rewards, including bonuses for mining activities.

This initiative, which ends on Oct. 7, has likely contributed to increased trading volumes and the price rally.

Cetus Meme Season is LIVE now

The meme coin craze is taking the Sui eco by storm, and @CetusProtocol is jumping in on action! Time to kick off S1 of #Cetus Meme Season & embrace the community enthusiasm for memes on #Sui. Guys, give a shout out to your favorite meme

pic.twitter.com/CCBBqY6ScH

— Cetus (@CetusProtocol) September 23, 2024

Cetus’ Total Value Locked (TVL) Sees Strong Growth

According to DeFiLlama, the Cetus Protocol ranks among the top 10 chains in the DeFi category for decentralized exchanges, currently holding 18th place with a Total Value Locked (TVL) of $165.99 million.

Additionally, the Cetus’ TVL has surged by 69.89% in a month—one of the best growth performances in its category. In comparison, the leading DEX Uniswap (UNI) showed a modest 7.44% TVL increase over the same period.

Another noteworthy protocol is Aerodrome Finance (AERO), a DEX built on the Base blockchain. Over the past 30 days, the AERO’s TVL has jumped by 87.47%, outpacing Cetus. We previously reported on several wallets that have accumulated millions of AERO in just six months.

The DEX ranking by Total Value Locked in DeFi: Source: DeFiLlama