Nexa — a crypto trading terminal acquired by Bluefin a year earlier — is shutting down because of “extremely low” trading activity on the Sui blockchain. The team said only 2–3 coins saw meaningful activity and rewards failed to revive usage. The shutdown accompanies a broader Sui DeFi decline: TVL fell ~78% (from $2.6B in Oct 2025 to ~$561M on Feb 12, 2026), DEX volumes dropped ~70% (Oct–Jan), SUI price fell ~50% to $0.93, and the chain had a six-hour outage caused by a consensus bug. Rival chains (e.g., Aptos) are seeing similar liquidity declines (Merkle Trade winding down).

Nexa closed explicitly due to “extremely low” Sui trading activity and only 2–3 coins showing meaningful activity; attempts to revive usage failed. Objective metrics in the article show a ~78% TVL decline, ~70% drop in DEX volumes, a ~50% SUI price decline to $0.93, and a six‑hour consensus‑bug outage — all concrete signals of reduced liquidity and market interest. The summary also notes similar liquidity issues on rival chains (Aptos).