Phantom Ends Sui Support on September 24 as TVL Falls 82% — What SUI Holders Need to Know?

• Phantom will stop supporting Sui on September 24, ending access to SUI management through the wallet.
  
• SUI remains on the Sui blockchain, but users may need another compatible wallet to access their assets.
  
• Sui TVL has fallen 82% from $2.576 billion to $468.59 million, adding pressure to the ecosystem.

Phantom will stop supporting the Sui Network on September 24, forcing SUI holders to reconsider how they access and manage their assets. The wallet’s decision will prevent users from viewing, sending, swapping or connecting SUI to decentralized applications through Phantom after the cutoff date.

The move does not affect ownership of SUI. Tokens remain recorded on the Sui blockchain, meaning users will need to switch to another compatible wallet if they want continued access to their assets and applications.

Phantom’s Sui exit changes how users access funds

Phantom’s withdrawal represents a change in wallet access rather than a transfer of assets. SUI held by users will remain on-chain, but Phantom will no longer provide the software interface needed to manage those tokens.

SUI holders who want to keep their assets can export their wallet credentials and restore access through another compatible wallet. This allows users to retain their holdings while continuing to interact with the Sui ecosystem.

Users who prefer to remain with Phantom can instead convert their SUI into supported assets, including wrapped SUI, SOL, ETH or USDC. Wrapped SUI has a particular cost advantage because Phantom’s fee waiver applies to that conversion route.

Sui TVL falls sharply

Phantom’s exit comes as Sui faces a broader decline in network liquidity. Data cited from DeFiLlama shows that Sui’s total value locked (TVL) has dropped from $2.576 billion in October 2025 to $468.59 million at press time.

That represents an 82% contraction, wiping out roughly $2.11 billion in locked capital. Although the network has experienced periods of recovery, Sui has repeatedly struggled to regain the $1 billion TVL threshold.

The decline does not by itself indicate that the blockchain is failing, but it highlights weaker liquidity and activity across the ecosystem.

Is Sui becoming a dead chain?

Phantom’s departure adds another challenge because wallets can serve as important gateways to blockchain applications. Losing one access point could make the Sui ecosystem less convenient for some users, particularly those who rely heavily on Phantom.

Still, calling Sui a “dead chain” would be premature. The network remains operational, and users retain ownership of their SUI regardless of Phantom’s support decision.

Also Read: BitMEX Faces $40M Lawsuit as Exchange Shuts Down After 11 Years

The bigger concern is whether falling TVL, reduced liquidity and fewer accessible distribution channels continue at the same time. If those trends persist, pressure on Sui’s ecosystem and SUI market could intensify.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Andrew Chen

I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.