Recently, market rotation has been very rapid, but interestingly, those infrastructure projects that have gone through several cycles and have a solid ecosystem position are now being re-priced. CETUS is such a project — as one of the top DEXs on Sui and Aptos, its story is worth a detailed review.

Let's look at some key figures (as of early January 2026):
Currently trading between $0.025 and $0.027, with a circulating market cap of approximately $23.6 million, still far from its all-time high. In simple terms, it’s in a value trough.

Why should you pay attention to it? There are several dimensions.

First is the ecosystem fundamentals. Cetus is a leading DEX on both Sui and Aptos, focusing on concentrated liquidity. What does this mean? It means its fate is directly tied to the underlying public chains. Sui, an emerging high-performance public chain, has seen its TVL surpass $200 million by the end of 2025. As the liquidity hub of this ecosystem, Cetus can directly benefit from the growth dividends brought by ecosystem explosion.

The business logic is also very clear — trading fees and liquidity incentive revenues can be converted into protocol cash flow and value capture. Compared to projects that are purely conceptual, the DEX model has real revenue sources.

Looking at on-chain data, Cetus’s leading position in TVL within the Sui ecosystem and its capital activity both demonstrate its importance.