Scallop, a pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem, has announced a significant milestone in its journey. The platform has secured a strategic partnership with DWF Labs, a leading new generation Web3 investor and one of the world’s largest high-frequency cryptocurrency trading entities. This collaboration signifies a major step forward for Scallop, as it aims to enhance its efforts in expanding DeFi adoption.
Enhanced Liquidity and Market Visibility As part of the partnership, DWF Labs will act as Scallop’s principal liquidity provider across various centralized exchanges and support over-the-counter (OTC) trading activities.
The primary objective of this collaboration is to bolster the liquidity of the Scallop token on a global scale. Leveraging DWF Labs’ extensive expertise and network of relationships with trading platforms and exchanges, Scallop is poised to elevate its market visibility and expand its ecosystem significantly.
This strategic alliance not only strengthens Scallop’s position in the DeFi space but also extends its reach into the institutional market. By promoting adoption among institutional investors, Scallop aims to establish itself as a key player in the broader cryptocurrency landscape. The investment from DWF Labs will accelerate the execution of Scallop’s roadmap, enabling the team to fulfill its commitments to the community and explore new ventures.
About DWF Labs and Scallop DWF Labs, known as the new generation Web3 investor and market maker, is among the largest high-frequency cryptocurrency trading entities globally. The entity engages in spot and derivatives markets across over 60 top exchanges, bringing extensive experience and market insights to its partnership with Scallop.
Scallop, on the other hand, stands as the first DeFi protocol to receive an official grant from the Sui Foundation. Positioned as a Next Generation peer-to-peer Money Market for the Sui ecosystem, Scallop aims to revolutionize DeFi by providing innovative financial solutions and fostering broader adoption.
With the support of DWF Labs and its commitment to expanding DeFi accessibility, Scallop is poised to make significant strides in its mission to reshape the future of decentralized finance. As the partnership unfolds, investors and enthusiasts can expect to see exciting developments that contribute to the growth and sustainability of the Scallop ecosystem.
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The Sui Network (SUI) has achieved a remarkable milestone, temporarily surpassing a total value locked (TVL) of $1 billion, marking the highest level in its history. According to the DeFi data platform DefiLlama, this growth was recorded as of September 19. The Sui Network continues to attract the attention of investors with its noteworthy performance in the cryptocurrency market.
NAVI Protocol and Scallop Lend Shine in TVL GrowthAmong the lending protocols operating on the Sui Network, NAVI Protocol has reached a TVL of $310.86 million, reflecting a weekly increase of 15.46%. NAVI Protocol stands out as one of the largest lending platforms in the Sui ecosystem, enabling users to securely lend various cryptocurrencies.
Scallop Lend has also recorded a significant growth of 20.83% this week, bringing its TVL to $140.55 million. This increase reflects the growing popularity of the protocol among users and its effectiveness in the lending market. Scallop Lend aims to attract more users on the Sui Network by offering innovative solutions to support lending activities.
Suilend and Continued Growth within the EcosystemThe Suilend platform has also made significant strides, increasing its TVL to $134.39 million, which corresponds to a weekly growth rate of 15.14%. Suilend allows users to lend and borrow various cryptocurrencies, enhancing liquidity within the Sui Network. The platform attracts users with its flexible lending terms and broad asset support.
The rapid current growth in the Sui Network highlights the increase in the number of DeFi projects supporting the development of the cryptocurrency market and the expansion of its user base. The rising TVL values of lending protocols particularly reflect investors’ confidence in the DeFi ecosystem. With its dynamic structure, the Sui Network aims to attract more investors and continues to expand its ecosystem.
In addition to its TVL growth, SUI coin has seen a 14.02% increase in the last 24 hours, currently trading at $1.36.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Scallop, a DeFi lending protocol within the Sui Network ecosystem, has achieved significant milestones
Scallop, a DeFi lending protocol within the Sui Network ecosystem, has achieved significant milestones. The platform has surpassed $150 million in Total Value Locked (TVL), with $80 million in total borrowing volume, $47 million in swap trading volume, and $12 million in flash loan volume.
Additionally, Scallop has introduced a new incentive program offering an 11.45% APR for USDC pools and various boosts for holding veSCA tokens. The protocol's growing popularity is highlighted by its performance in the ongoing 'Suitember' event, with 68% bullish sentiment and incentives including ~170K SUI and ~512K SCA.
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
The SUI price has gone up by a massive 32.4% within the last 24 hours and 60% in a week with the market capitalization nearing $8.7 billion. This has put SUI at the 15th position among the most valuable cryptocurrencies in the world today. On the other hand, the lending protocol of the Sui ecosystem, Scallop (SCA), has also been on an upward trajectory. SCA has risen by 87% in the last week and has seen its total value locked (TVL) growth by 25.3%. This points towards a growing interest in the Sui network and the other assets associated with it.
SUI Price Rally 60% In a Week Hitting New Market Cap High of $8.7B According to recent data, SUI price has increased by 32.4% within the last 24 hours, and by over 60% over the span of 7 days. This tremendous growth has also placed SUI at its highest market capitalization ever of around $8.7 billion. This has not only anchored SUI firmly in the market but has raised the asset to 15th rank amongst digital assets by market capitalization.
The increase in SUI price is coupled with a surge in trading volume, indicating a rise in investor interest. Over the past 24 hours, SUI trading volume increased by over 250%, reflecting heightened market activity, and signaling a bullish outlook. Analysts attribute this price rise to strong on-chain metrics and a favorable market environment.
Adding to the bullish sentiments, the MACD analysis on the daily chart indicates a strong upward trend for SUI. The MACD line has crossed above the signal line, currently reading 0.0211 against -0.0027, reflecting positive momentum. The histogram also supports this bullish outlook, as it has been showing green bars with increasing height. This widening gap between the MACD and the signal line indicates strengthening buying pressure and a continuation of the upward trend.
Source: TradingView Furthermore, the Bull Bear Power (BBP) analysis reinforces the bullish trend, showing a positive value of approximately 1.2590. This positive reading suggests that bulls are dominating the market, as buying strength surpasses selling pressure.
Scallop (SCA) Gains 83% As Sui Ecosystem Grows Apart from SUI, the lending protocol within the Sui ecosystem with the ticker SCA has also shown great growth. In the last one week the token price of Scallop (SCA) has risen by 83% indicating growing demand for Sui-based financial solutions. It worth mentioning that Scallop being a lending protocol is an essential part to the Sui ecosystem as it provides services such as lending and borrowing, which add value to the Sui network.
Source: CoinMarketCap The massive adoption of Scallop (SCA) has signaled the ability of the Sui ecosystem not to be limited to the SUI token alone as users seek other financial services within the network.
Besides the price appreciation, there is a remarkable improvement in the total value locked (TVL) in Scallop (SCA), which has increased by 25.30% in the last week. This increase in TVL reflects the growing interaction of users with the Scallop protocol. TVL growth is one of the constituent parameters, which characterizes overall demand together with protocol’s liquidity.
What’s Next? Analysts Predict $10 Target for SUI Following the recent rally, market analysts are optimistic about the future trajectory of SUI price, projecting a potential target of $10 if current trends persist. This positive outlook is driven by robust on-chain metrics, including high trading volume and active user engagement. Additionally, post-election market dynamics and the popularity of meme coins within the ecosystem are further catalysts for price appreciation.
SUI November price prediction could continue to benefit from increased interest and favorable market conditions. If these factors align, SUI may see another significant rally, bringing it closer to the anticipated $10 target.
Scallop dApp is excited to announce a new integration with Alchemy Pay. Alchemy Pay is a leading Fiat-Crypto gateway solution. This news was announced on Official X account of Scallop dAapp. Through this integration, users of Scallop can purchase $SCA and other tokens using their credit cards.
New Alchemy Pay Integration Enhances User Experience on Scallop DApp Scallop dApp is a leading money market in the Sui Network. With this integration, the Web2 users can easily migrate into the crypto space. They can utilize their credit cards to purchase $SCA and other supported tokens. This makes the process easier and friendly for the users to accomplish.
As a result of the integration, the Scallop users no longer have to depend on complex procedures. They are not required to buy tokens through a third party, but rather buy tokens of the app. This is a very important progress towards the improvement of the on boarding process for new users.
Furthermore, the integration is supposed to close the gap between traditional financial systems and cryptocurrencies. Scallop uses the technology of Alchemy Pay to make it easier for Web2 users to enter the crypto space.
Alchemy Pay Integration Expands Payment Options for Scallop DApp Users Alchemy Pay accepts multiple payment options to facilitate the success of online transactions. This comprises of credit and debit cards, and local payment methods. As a result, users from different areas will be able to enhance the experience. It also helps to consolidate Scallop’s position as a premier decentralized application.
Overall, this partnership represents a significant step for Scallop DApp towards its development. It adds a new dimension to users and enriches their experience on the platform. With this development, Scallop is now leading the decentralized finance space to create a new paradigm.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Scallop, an advanced money market protocol on Sui blockchain, has announced the integration of Alchemy Pay’s On & Off-Ramp solution. This move simplifies the process for Scallop users to buy and sell cryptocurrencies, offering seamless access to digital assets. This can be done through diverse payment methods, including credit cards, mobile wallets, and bank transfers.
Scallop and Alchemy Pay Unite to Enhance Global Crypto Accessibility With support spanning 170+ countries, Scallop users can now leverage Alchemy Pay’s global payment infrastructure to easily acquire cryptocurrencies, including Scallop’s native token, $SCA. The token is now listed on Alchemy Pay’s platform, allowing users to directly purchase it for engaging with Scallop’s DeFi ecosystem.
Scallop, a trailblazer in the Sui ecosystem, has set itself apart as the first DeFi protocol to receive a grant from the Sui Foundation. The platform provides an all-in-one DeFi experience with services like lending and borrowing, flash loans, and bridging tools. By integrating Alchemy Pay’s payment gateway, Scallop further enhances user access and engagement across its ecosystem.
The company’s recent acquisition of four Money Transmitter Licenses in the U.S. underscores its commitment to regulatory compliance and secure operations. As an officially authorized payment service provider listed by Visa and Mastercard, Alchemy Pay continues to solidify its reputation as a trusted platform for bridging fiat and crypto economies.
A Synergistic Partnership The partnership between Scallop and Alchemy Pay demonstrates a shared vision of simplifying and expanding access to decentralized finance. By offering streamlined payment solutions and supporting $SCA token integration, the collaboration aims to attract a broader user base to Scallop’s protocol while fostering the growth of the Sui ecosystem.
With this integration, Scallop users gain an enhanced, user-friendly experience, paving the way for greater adoption of DeFi services globally.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
[PRESS RELEASE – Singapore, Singapore, March 29th, 2025]
Scallop, a lending and borrowing protocol on the Sui blockchain, has recorded an impressive revenue of $79,920 over the past 24 hours, according to recent data from DeFiLlama. This achievement places Scallop second among all decentralized finance (DeFi) lending protocols, trailing only Aave, a well-established name in the sector. The milestone underscores Scallop’s growing prominence within the Sui ecosystem and the broader DeFi landscape.
The Sui Ecosystem: A Foundation for Innovation
Sui, a high-performance Layer 1 blockchain launched in May 2023, has quickly emerged as a hub for scalable and efficient DeFi applications. Designed with a unique object-centric data model and powered by the Move programming language, Sui offers low transaction fees, high throughput, and robust security. These attributes have fueled significant growth in its DeFi ecosystem, with Total Value Locked (TVL) surpassing $2 billion in early 2025, as reported by DeFiLlama. The blockchain’s ability to process transactions in parallel and achieve instant finality has attracted developers and users alike, positioning Sui as a competitive player alongside established networks like Ethereum and Solana.
The Sui Foundation, the organization driving the blockchain’s development, has played a pivotal role in nurturing innovative projects. Scallop stands out as the first DeFi protocol to receive an official grant from the Sui Foundation, a testament to its strategic importance within the ecosystem. This support, combined with backing from prominent industry players such as CMS Holdings, 6th Man Ventures (6MV), UOB Venture Management, and notable individuals like Dingaling, Pentoshi, and Virtual Beacon, has provided Scallop with a strong foundation for growth.
Scallop Protocol: Redefining Lending on Sui
Scallop Lend is a peer-to-peer money market protocol built on Sui, offering users a platform to lend and borrow digital assets with institutional-grade features. Since its token generation event (TGE) a year ago, Scallop has established itself as the top lending and borrowing protocol on Sui, boasting a TVL of approximately $130.27 million as of March 29, 2025. This figure reflects a notable 34% increase over the past seven days, highlighting sustained user confidence and adoption. The protocol’s total deposits and collateral currently stand at $187 million, with cumulative revenue reaching $3.94 million. The protocol’s total deposits and collaterals have now surpassed $200 million, a significant milestone that reinforces Scallop’s position as the leading money market on Sui.
Users can Supply and Borrow with Scallop here: https://app.scallop.io Scallop’s design emphasizes accessibility, security, and user experience. It separates lent assets from collateral to enhance resilience and employs a vote-escrow (ve) model to incentivize borrowing activity. Under this model, users who stake Scallop’s native token, $SCA, can access higher yield rewards. To date, the community has locked more than 27 million $SCA tokens—over 10% of the total supply—for an average duration of 3.72 years, signaling strong long-term commitment to the protocol.
In the past three days, Scallop has expanded its offerings by listing the Walrus token and partnering with Binance Wallet to host a yield-focused activity. These developments reflect Scallop’s ongoing efforts to diversify its ecosystem and enhance value for users.
A Competitive Force in DeFi Lending
Scallop’s recent 24-hour revenue of $79,920 positions it as a formidable contender in the DeFi lending space, trailing only Aave, a protocol with a long-standing presence on Ethereum and other chains. With a focus on scalability and innovation, Scallop leverages Sui’s technical advantages to deliver a seamless experience for lenders and borrowers. Its open-source framework has also enabled other projects within the Sui ecosystem to build on its infrastructure, further amplifying its impact.
As the Sui ecosystem continues to mature, Scallop’s performance suggests it is well-positioned to maintain its leadership in lending and borrowing. The protocol’s combination of strategic partnerships, community engagement, and robust metrics underscores its potential to shape the future of DeFi on Sui and beyond.
About Scallop
Scallop is the pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem and is also the first DeFi protocol to receive an official grant from the Sui Foundation.
The protocol offers a range of financial services, including high-interest lending, low-fee borrowing, asset management, and automated market-making (AMM) tools, all on a single platform. Additionally, Scallop provides a software development kit (SDK) that enables professional traders to implement complex trades, including zero-interest loans easily. By emphasizing security and adhering to best practices, Scallop aims to reduce the risk of malicious behavior in the DeFi space, providing users with a trustworthy and reliable platform.
Analyst SuperBro notes that a Bitcoin close above the key level would confirm his inverted ascending scallop pattern, potentially leading to higher prices.
Bitcoin’s price has experienced a clear upward trend over the past week, seeing a significant jump from below $104,000 to over $110,000. As of today, Bitcoin is trading at $109,318, showing a 3.5% increase in the last 24 hours and a slight 0.1% rise over the past 7 days.
Following this surge, an analyst on X suggests Bitcoin might be poised for a broader surge, even reaching new highs based on an inverted ascending scallop.
Technical Patterns and Price Targets The chart analysis shared by crypto analyst SuperBro highlights the formation of an “Inverted Ascending Scallop” pattern on Bitcoin’s weekly price chart. This pattern unfolds in multiple phases, beginning with a rise from $49,500 in August 2024 to a peak of $109,000 on January 20, 2025.
From there, Bitcoin dipped to $74,400 in early April before making a comeback. This upward trend has brought the price back near the January peak, with the final phase projecting further increases.
SuperBro highlights that if Bitcoin records a weekly close above $109,358, it will confirm the inverted ascending scallop pattern, which he has continued to watch since February 2025. Interestingly, the analyst provides two potential price targets for Bitcoin.
The conservative target, based on a linear estimation, is set at $148,000. This target is derived from calculating 64% of the price difference between points A and B. In contrast, the more aggressive logarithmic target suggests that Bitcoin could reach as high as $244,000.
When asked about the possibility of Bitcoin hitting $130,000 this week, the analyst stated that it is possible, as the market is likely on the cusp of a parabolic move.
Bitcoin’s Strong Buying Pressure Meanwhile, data on Bitcoin holder inflows reveals strong buying pressure in both the short and long term. The 7-day change in inflows has increased by 168.70%, indicating heightened short-term demand.
Bitcoin Large Holders Inflow | IntoTheBlock More notably, the 30-day change has surged by 522.76%, suggesting that large holders have been accumulating Bitcoin over the past month. However, despite the strong inflow data, the 90-day change in inflows shows a massive decline of 95.04%.
Bitcoin’s Potential for Long-Term Growth On the macro scale, Bitcoin’s potential for future growth has drawn attention from prominent analysts. Tom Lee, head of research at Fundstrat, remains confident that Bitcoin could reach an all-time high of $250,000 by the end of 2025.
He attributes this optimistic outlook to Bitcoin’s fixed supply—95% of its maximum supply has already been mined—combined with the growing imbalance between Bitcoin’s demand and available supply. Lee speculates that more institutional and retail investors will enter the market, pushing Bitcoin’s price higher as demand continues to outpace its available supply.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Scallop (SCA) is listed on Bitkub, a licensed cryptocurrency exchange in Thailand.
PANews reported on August 27th that Scallop (SCA), the Sui ecosystem lending protocol, has officially launched on Bitkub, Thailand's leading licensed cryptocurrency exchange. As the largest and most compliant exchange in Thailand, this listing will help Scallop accelerate its entry into Southeast Asia and the broader APAC market, increasing local user reach and liquidity.
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Bitkub Exchange, a well-known Thailand-based digital asset trading firm, has partnered with Scallop, a next-gen DeFi platform on the Sui blockchain. The partnership is aimed to expand DeFi awareness and expansion across Thai consumers. As mentioned in Bitkub’s official announcement on X, the development focuses on offering DeFi access to the users in Thailand to unlock new financial opportunities via blockchain-led innovation. Hence, the joint initiative signifies a strategic move to combine the worldwide potential of DeFi with the rising digital economy of Thailand.
🚀Bitkub Exchange partners with @Scallop_io💙💚
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Bitkub Exchange joins forces with Scallop, one of the leading DeFi projects on the Sui ecosystem to enhace understanding about DeFi and be an open door of opportunitties for Thai users to get secure DeFi service on SUI blockchain… pic.twitter.com/aUfosKs5Ht
— Bitkub.com (@BitkubOfficial) September 2, 2025 Bitkub Exchange and Scallop Partner to Enhance DeFi Awareness In partnership with Scallop, Bitkub Exchange is endeavoring to increase DeFi-related awareness among Thai users while also offering noteworthy opportunities. In this respect, the development denotes another crucial step forward in Bitkub’s efforts to advance financial literacy as well as the adoption of digital assets. Thus, by working with Scallop, it attempts to strengthen its clients with cutting-edge tools to delve into DeFi in a secure way through the Sui blockchain.
Apart from that, Scallop delivers advanced DeFi solutions and helps integrate cutting-edge financial products to streamline complicated blockchain services. Additionally, the collaboration is also a great contribution to Thailand’s strategy to expand the digital economy. As a result of this, the duo pay considerable attention to promoting an ecosystem that grows the user’s knowledge, trust, and investments in the DeFi sector.
Empowering Thai Developers with Scalable DeFi Infrastructure According to Bitkub Exchange, with this partnership, the Thai developers can expect new innovation opportunities. Hence, by utilizing the scalable infrastructure of Scallop and robust local presence of Bitkub, builders can establish consumer-first, influential, and
secure blockchain applications. Overall, this partnership will accelerate the position of Thailand in the worldwide DeFi world while providing developers with the resilient resources to shape the next era of next-gen financial solutions.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
PANews reported on September 8th that the Sui ecological lending protocol Scallop released a vulnerability update for the Nemo protocol, stating: "Earlier today, the Scallop team learned of a security incident on the Nemo protocol, which also affected the sCoin mining pool on the Nemo protocol. We would like to update that this incident only affects the Nemo protocol itself and has no impact on Scallop's mining pool. All Scallop mining pools remain secure. Nemo is currently working with a third-party audit agency, and we are awaiting further updates from the team."
Earlier news reported that NemoProtocol on Sui was hacked and lost $2.4 million .
PANews reported on September 13th that Walrus, the protocol developed by Sui developer Mysten Labs, has officially launched WAL LST, a liquid staking token for WAL. The token is now available on WalrusLST and Haedal. Users can use WAL LST to redeem or lend tokens, provide liquidity, and enjoy flexible exits. Scallop is the first protocol to support WAL LST as collateral for lending. Users can earn rewards by staking WAL while using LST as collateral to borrow more assets.
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PANews reported on October 6th that Scallop, the Sui Ecosystem lending protocol, announced that its total transaction volume has exceeded $500 million, making it the preferred DeFi platform for the Sui Chain, providing users with a secure, efficient, and seamless exchange experience. Highlights include MEV protection, customizable exchange paths across aggregators, more transparent swap price comparisons, and one-click exchange of decentralized assets with integration with the Scallop Mini Wallet.
PANews reported on October 14th that Scallop, the Sui ecosystem lending protocol, announced that its SCA token lockup has reached 50 million, representing approximately 20% of the total SCA supply, with an average lockup period of 3.71 years. The platform stated that converting locked SCA tokens to veSCA will earn borrowers up to 4x the amount of their borrowed assets, encouraging greater use of borrowed assets within the ecosystem.
SCA is listed on Kraken Exchange, and Scallop has gained mainstream recognition
PANews reported on October 27th that the Scallop token (SCA) has officially been listed on Kraken, a globally renowned cryptocurrency exchange. Scallop is the first DeFi protocol on the Sui Chain to receive funding from the Sui Foundation, with backers including 6MV, CMS Holdings, the Sui Foundation, and UOB Venture Management, a subsidiary of United Overseas Bank.
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PANews reported on December 23 that Scallop, the lending protocol within the Sui ecosystem, recently underwent a comprehensive UI upgrade to its DApp: A new "Flash Loan" feature has been added, allowing users to initiate flash loans directly within the Scallop DApp; Scallop Tools now allows for one-click wallet cleanup and destruction of expired SuiNS; and features such as an account overview, risk level simulator, and market status switching options have been added. Notably, flash loans allow users to borrow assets without upfront collateral and require repayment within the same on-chain transaction.
