Sui vs Solana: How Sui Network Is Catching Up in the Blockchain Race
Sui vs Solana– Over the past year, Sui Network has become one of the fastest-growing blockchain ecosystems, drawing comparisons to Solana, which has seen remarkable growth in the Web3 space. While both networks have experienced significant surges, it’s worth examining how Sui stacks up against Solana and what we can expect in the future.
Sui vs. Solana: Total Value Locked (TVL) Comparison
Solana’s Total Value Locked (TVL) started below $250 million at the beginning of 2023, but by January 2024, it had exploded to an impressive $14.24 billion. Meanwhile, Sui’s TVL has also surged from under $250 million to $2.18 billion, signaling its rapid growth. Although Sui’s TVL is still much lower than Solana’s, its trajectory shows promise, suggesting that it could potentially follow a similar path to Solana in the upcoming year.
On-Chain Volume: Solana Leads, But Sui Is Catching Up
When it comes to on-chain volume, Solana has significantly outperformed Sui. Solana recorded its highest daily on-chain volume at $35.89 billion on January 18. In comparison, Sui’s highest daily volume peaked at $559.97 million on December 20. Despite the difference, Sui’s performance is impressive, especially considering that it recorded just over $25 million in daily volume 12 months ago.
Address Growth: Sui’s Rising Numbers
Solana saw a major increase in daily active addresses, rising from under 1 million in early 2023 to over 5 million in recent months. Sui, though younger, has also seen impressive address growth, especially in the period between April and May 2024. Active addresses on the Sui network surged from as low as 12,000 to a peak of 2.3 million by late May. Though it has cooled down to below 600 daily active addresses as of January 2024, the initial growth indicates potential for continued expansion.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
Leave a comment