Cetus Protocol has returned to the top 10 decentralized exchanges (DEX) after rebooting over the past weekend, following a $260 million hack. The protocol achieved $122.82 million in trading volume in the past 24 hours, becoming the 10th most active DEX. Cetus is also an important fee revenue source on SUI, although fee generation is still bouncing back.
Cetus aims to bounce back to a leading position to turn the SUI ecosystem into a competitor of Solana and a place for meme tokens. DEX activity is the largest source of users for SUI, but the chain also wants to develop other applications such as NFTs and on-chain games.
In the coming days, we will see whether Cetus can maintain this level of activity, as SUI L1 currently has only 300,000 daily users.
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