{"id":12429,"date":"2024-10-08T18:30:08","date_gmt":"2024-10-08T18:30:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=12429"},"modified":"2024-10-08T18:30:08","modified_gmt":"2024-10-08T18:30:08","slug":"will-sui-surpass-solana-expert-analysis-reveals-key-insights","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=12429","title":{"rendered":"Will SUI Surpass Solana? Expert Analysis Reveals Key Insights"},"content":{"rendered":"

Layer-1 chain Sui (SUI) has been capturing significant attention lately. As of this writing, SUI has surged by 125% over the past 30 days and has skyrocketed<\/a> 345% from its yearly low of $0.46 on August 5. These impressive figures position SUI among the top performers in the crypto market over the last two months and as one of the few altcoins which reached their all-time high.<\/p>\n

SUI Vs. Solana<\/h2>\n

Yesterday, the buzz intensified when several accounts on X shared charts suggesting that SUI had overtaken Solana in daily transactions for the first time. Enthusiasts quickly touted SUI as the next \u201cLayer-1 killer,\u201d poised to surpass Solana, which has been a leading contender among Layer-1 blockchains behind Ethereum.<\/p>\n

However, this claim faced scrutiny from industry experts. Developer Jo\u00e3o Mendon\u00e7a took to X to rebut<\/a> the assertions, stating: \u201cSUI did not surpass Solana in daily transactions \u2014 there\u2019s no free lunch. On the left = a deceptive chart where each instruction of each transaction is counted as a transaction on SUI. On the right = Artemis\u2019s genuine read of daily transactions.\u201d<\/p>\n

Mendon\u00e7a referenced a detailed explanation by analytics firm Artemis from May. The firm highlighted that in traditional Ethereum Virtual Machine (EVM) architectures, users submit transactions that execute a set of instructions. In contrast, on the SUI blockchain, users submit a transaction block containing multiple transactions that update objects in the global state. Therefore, comparing transaction counts directly between SUI and other chains like Solana can be deceptive.<\/p>\n

They explained: \u201cArtemis decided to count Sui transaction blocks instead of transactions when comparing activity with Ethereum and other chains. This decision was based on the fact that Sui has a different architecture than the EVM, and counting transaction blocks gives a more accurate picture of user interactions.\u201d<\/p>\n

Prominent crypto analyst VirtualBacon also weighed in<\/a> on the discourse, analyzing the SUI\/SOL price chart. He remarked: \u201cSUI vs SOL ratio almost at resistance. One must question the upside potential of this \u2018new killer L1\u2019. For this to keep running another month, it either completely takes over the market share of Solana, or we rotate back to the proven chain.\u201d<\/p>\n

Expressing skepticism about SUI\u2019s ability to maintain its momentum against Solana\u2019s price, he added: \u201cSomehow people in comments believe they\u2019re still early to $SUI at ATH and 20B FDV. It\u2019s nowhere close to Solana level adoption imo.\u201d<\/p>\n

Crypto analyst Micha\u00ebl van de Poppe also casted doubts<\/a> that the SUI price can run above the all-time high immediately. Via X, he wrote today: \u201cSUI did run away and printed a new all-time high. The first one! Didn\u2019t allow me to enter, but it might be topped for now. Looking at the same region or $1.85 for entry zones. Massive runner.\u201d<\/p>\n

Despite the debates, SUI has undeniably been gaining traction. In September, Raoul Pal, founder and CEO of Global Macro Investor and RealVision, lauded<\/a> SUI as a \u201cgroundbreaking ultra-fast L1, super efficient, full blockchain ecosystem\u201d. He emphasized that SUI, developed from the remnants of Meta\u2019s Diem project, is designed to scale for billions of users transitioning from Web2 to Web3 technologies. Pal\u2019s endorsement amplified interest in SUI within the crypto community.<\/p>\n

Adding to its growing ecosystem, Circle\u2014the company behind USDC, the world\u2019s second-largest stablecoin by market capitalization\u2014announced in September that the Sui network would support USDC. This integration is expected to enhance liquidity and utility on the Sui blockchain, potentially attracting more developers and users.<\/p>\n

Most recently, on Monday, crypto exchange Bybit announced support for SUI on its Launchpool platform. This move makes SUI only the second chain available on the service after Mantle (MNT)<\/a>, providing users with new opportunities to earn rewards and participate in the Sui ecosystem.<\/p>\n

At press time, SUI traded at $2.01.<\/p>","protected":false},"excerpt":{"rendered":"

Layer-1 chain Sui (SUI) has been capturing significant attention lately. As of this writing, SUI has surged by 125% over the past 30 days and has skyrocketed 345% from its yearly low of $0.46 on August 5. These impressive figures position SUI among the top performers in the crypto market over the last two months […]<\/p>\n","protected":false},"author":0,"featured_media":12430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12429"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12429"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12430"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}