Cetus Aggregator Returns Online, Signaling a Competitive Comeback on Sui

Finance

Cetus Aggregator Returns Online, Signaling a Competitive Comeback on Sui

Following a brief break, Cetus Protocol is operational once more. One of the decentralized exchanges (DEXs) that first made a name for itself on the Sui blockchain, Cetus has now reestablished its aggregator, allowing users to perform swaps once more.

With this recent move by the protocol, traders can re-access the Cetus user interface and perform swaps with confidence, knowing that there are deep liquidity pools across the Sui ecosystem.

Even though the concentrated liquidity market maker (CLMM) routes on the platform are still somewhat silent, a full relaunch is just around the corner. This first and only partial reactivation marks a strong return to the glory days for Cetus, with a reported $38 million in trading volume clocked within the first 24 hours of being back online.

A new battle for DEX supremacy on the Sui network is about to unfold, and the reappearance of the protocol sets the stage for it. Sui is a layer-1 blockchain and DEXes built on top of it can provide features like immediate settlement and guaranteed security for users.

A Once-Dominant Force on Sui

Cetus Protocol was more than just another DEX; it was the DEX on Sui, boasting trading volumes that left its nearest competitors in the dust. In one month alone, it was racking up $4.621 billion in trading volume, a figure that appears to exclude the last ten days of that month, possibly suggesting that its trading volume during those ten days could have really pushed it through the roof.

Cetus gained prominence because of its combination of intuitive design, intelligent routing, and seamless user experience. Its CLMM engine offered something that traders had yearned for since the inception of DeFi: granular control over their liquidity positions. And it did so in a way that gave you better capital efficiency compared to traditional AMMs.

Though we do not have the complete details about Cetus recent operational pause, the competitor took the opportunity to press ahead and claim the number one spot—Bluefin.

Bluefin Steps In as the New Leader

In Cetus‘ absence, Bluefin has made itself the present leader among DEXs on Sui. Initially a perpetual trading platform, Bluefin has become a more well-rounded DeFi ecosystem. It partners with AlphaLendSui to provide lending services and offers smooth token swaps thanks to its integrations with 7k Aggregator and BluefinX. Bluefin’s trading stats are impressive. Over the past 24 hours, The DEX recorded a trading volume of $95.35 million. For the week, it has handled $1.285 billion in volume, and for the past month, its tallied $3.293 billion. Its single most active day came on May 30th, when Bluefin hit a peak trading volume of $441.3 million.

We now have these figures, and with them, Bluefin has become the trading hub for many in the Sui ecosystem, filling the vacuum left by Cetus.

Final Thoughts

Cetus Aggregator is back, and with it, a new layer of competition for DeFi on Sui. Though Bluefin currently rules the space, with $38 million in daily volume, Cetus looks poised to reclaim its spot. It is estimated that during the time when it was down, Bluefin accumulated around $1 billion in volume.

After the CLMM routes are completely reinstated, Cetus may once more distinguish itself with its advanced liquidity infrastructure and broad protocol integrations. Its legacy dominance and user base could provide a tailwind for a quick recovery in both market trust and market share.

In comparison, Bluefin‘s sustained innovation and extension into sectors such as lending and sophisticated trading functionalities may well prove to make it more than just a stopgap solution. If it can sustain its current momentum, Bluefin looks poised to secure a long-term leadership position in Sui’s decentralized finance landscape.

The Sui ecosystem is clearly heating up again. As Cetus dares to go forward and reestablish itself and Bluefin maintains strong momentum, traders and DeFi enthusiasts can expect a more vibrant and competitive atmosphere. Whether this leads to fresh developments or simply a better user experience across the platforms, one thing is clear: the battle to establish the leading DEX on Sui is still very much alive.