Sui Loses Another Wallet Provider as Suiet Joins Growing…
By Abdelaziz Fathi
AI summary of the source article
Sui-focused self-custodial wallet Suiet is shutting down its services, ending API support after November 14. The closure follows departures by providers including Suiball and Phantom amid falling DeFi liquidity and declining active users on the Sui network.
Why it matters
The divergence matters because transaction counts alone do not measure commercial adoption. Automated transactions, repeated interactions and other high-frequency activities can increase network throughput without producing equivalent growth in users, liquidity or revenue.
Key facts
- Suiet is shutting down its wallet services and ending API support after November 14.
- Sui's total value locked fell over 22% in the past month to approximately $413 million, while average daily active users dropped nearly 79% to about 128,000.
- Other providers exiting or cutting Sui support include Suiball, multi-chain wallet Phantom, and DeFi project Full Sail.
Source excerpt · FinanceFeeds
Suiet, a self-custodial cryptocurrency wallet built for the Sui blockchain, is shutting down its services, with API support scheduled to end after November 14, 2026. The closure adds to a series of departures from the Sui ecosystem as decentralized finance (DeFi) liquidity and user activity decline sharply. Sui's total value locked (TVL) fell more than 22% over the past month to approximately $413…