Sui Network processed more than 1.1 million deposits and 165,000 withdrawals on its Hashi Bitcoin testnet in the three weeks since launch on July 22, according to a post on X. The testnet has captured more than 50 percent of all Bitcoin Signet transactions over the past two weeks.
Hashis is Sui's bridge protocol for native Bitcoin integration into decentralized finance. The testnet lets developers build applications using Bitcoin collateral on Sui's blockchain before the mainnet launch. Bitcoin Signet is a separate blockchain used for testing and development purposes.
Sui launched the testnet in July to let builders experiment with Bitcoin-backed assets on its network ahead of a full release. The bridge protocol solves a technical problem: Bitcoin does not natively support smart contracts, so Sui's bridge allows Bitcoin holders to use their coins as collateral in DeFi without moving them to another chain. Users lock Bitcoin on Signet, and the bridge issues wrapped representations on Sui that can be used in lending protocols, swaps, or other applications.
The deposit and withdrawal figures measure test-phase participation rather than locked value or transaction fees. Signet transactions carry no economic cost and are used purely for protocol validation. The 1.1 million deposits over 19 days amounts to roughly 58,000 deposits per day during the testnet period.
Sui has been building Bitcoin integration as a core feature. Mysten Labs, the core development team, positioned Bitcoin collateral access as a way to bring larger total value into Sui's ecosystem from the largest cryptocurrency by market cap. Other layer-one blockchains have launched Bitcoin bridges, but few have reached production status; most remain in testnet or early mainnet phases with limited liquidity.
Signet processes a much smaller total transaction volume than Bitcoin mainnet, so reaching 50 percent of its activity is feasible for a single application. Whether Hashi maintains comparable activity rates on Bitcoin mainnet will depend on fee economics and DeFi demand once the bridge goes live beyond testing.
Sui has not announced a mainnet date for Hashi. The foundation will need to demonstrate security audits and Bitcoin bridge safety before deploying the protocol to handle real Bitcoin collateral and economic value.
