SUI is, without doubt, one of the hot stories in crypto in recent weeks. It reminds many of what Solana was this time last year.
However, despite these big pumps, SUI’s market cap is now at $5 billion, while Solana’s sits at over $80 billion.
Ever since this SUI run started, analysts on X have been speculating that Sui could flip Solana in the next few years or even sooner. However, crypto trader “Choze” weighed in on this topic and warned Sui holders and users.
The Numbers Tell a Different Story
Looking at the on-chain metrics, there’s a significant gap between the two networks. Solana’s daily fees have reached an impressive $4.1 million, while Sui generates just $27.7K in fees. The revenue numbers paint a similar picture, with Solana bringing in $2 million compared to Sui’s modest $7.5K.
When it comes to daily transactions, Solana maintains a steady flow of around 45.4 million transactions per day. While Sui did experience a brief spike to 60 million transactions, it quickly returned to its baseline of about 5 million daily transactions.
$SUI needs a long time to surpass $SOL.The debate about whether $SUI will become a $SOL killer is still going on, especially lately with $SUI getting a lot of attention.But one thing’s clear, $SUI will take a long time to truly outperform $SOL.Replacing Solana is really… pic.twitter.com/CU13QU4meu
— Choze (@AlwaysBeenChoze) October 24, 2024
Active Users and Network Activity
The disparity in user engagement is equally notable. Solana boasts approximately 9.4 million daily active addresses, showing consistent growth in user activity. In comparison, Sui currently has about 1.3 million active addresses.
Choze suggests that rather than focusing on overtaking Solana, Sui might be better served by finding its own niche in the crypto ecosystem. The trader points out that success in the blockchain space isn’t necessarily about becoming a “killer” of another platform, but rather about developing unique strengths and use cases.
Read also: How Much Will SUI Be Worth in 2025 If Bitcoin Price Hits $100k?
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The post Analyst Skeptical Sui is a ‘Solana Killer’ – Here’s What Needs to Happen for SUI to Flip SOL appeared first on CaptainAltcoin.
