Phantom to End SUI Support on Sept. 24 as Sui TVL Falls 82% From Peak

Phantom will end support for Sui’s SUI token on Sept. 24, according to information shared by @coinbureau on X, roughly 20 months after the wallet added support for the asset. The decision comes as the total value locked on the Sui network has declined 82% from its October 2025 peak, according to the information cited in the post.

Phantom users holding SUI will need to move their tokens to another compatible wallet or exchange them for an asset supported by the wallet before the Sept. 24 deadline.

The change removes SUI from one of the wallets used by cryptocurrency users and comes amid a significant decline in capital locked across the Sui ecosystem.

Phantom Users Must Move SUI Before Sept. 24

Phantom’s decision means users holding SUI through the wallet will need to take action before support ends on Sept. 24.

According to the update, users have two primary options: transfer their SUI to another wallet that supports the token or swap the holdings into an asset that remains supported by Phantom.

The change follows approximately 20 months of SUI support on Phantom. The wallet’s decision to discontinue the asset does not itself indicate that SUI will cease to operate on the Sui network. Instead, it affects the availability of SUI within Phantom’s supported asset ecosystem.

Users who continue to hold SUI through the wallet after the support deadline may face limitations in managing their holdings through Phantom, making it important for them to transfer or convert their assets before the stated date.

Sui TVL Falls From $2.58 Billion Peak

The support change comes as Sui’s decentralized finance ecosystem has experienced a substantial decline in total value locked.

According to the information shared on X, Sui’s TVL has fallen from a peak of $2.58 billion in October 2025 to $469 million. That represents an 82% decline from the reported peak.

TVL is commonly used as an indicator of the amount of capital deposited in decentralized finance applications across a blockchain network. It can provide insight into activity and liquidity within an ecosystem, although it does not capture every aspect of network usage or adoption.

The decline from $2.58 billion to $469 million therefore indicates a significant reduction in capital held across Sui-based decentralized finance protocols compared with the network’s October 2025 peak.

Declining TVL Raises Questions About Sui Activity

The sharp reduction in TVL has added to concerns about declining activity across the Sui ecosystem, according to the information cited in the post.

A sustained fall in locked capital can affect liquidity available to decentralized applications, including trading platforms, lending protocols and other financial services operating on a blockchain.

However, TVL represents one metric and does not independently establish the overall health of a blockchain network. Other measures, including transaction activity, developer participation, user numbers and application usage, can also provide insight into network conditions.

The timing of Phantom’s decision has nevertheless drawn attention because the wallet is ending SUI support while the network’s TVL remains substantially below its previous peak.

SUI Holders Face an Immediate Deadline

For Phantom users, the most immediate issue is the Sept. 24 deadline. SUI holders using the wallet will need to transfer their tokens to another compatible wallet or swap them for a supported asset before support ends.

The development comes during a period in which Sui’s reported TVL has dropped considerably from its October 2025 high. The combination of the wallet support change and the decline in capital locked on the network has increased scrutiny of Sui’s current ecosystem activity.

For now, SUI remains the native token of the Sui network, while Phantom’s decision specifically concerns its support for the asset within the wallet.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.