Analyst Skeptical: Can SUI Really Become a ‘Solana Killer’?

SUI has emerged as a hot topic in the crypto space, reminiscent of Solana's rapid rise last year. However, analysts are cautious about its potential to surpass SOL.

Key Insights:

1. Market Capitalization:

SUI: $5 billion

SOL: Over $80 billion

2. On-Chain Metrics:

Daily Fees: Solana generates around $4.1 million, while Sui brings in only $27.7K.

Revenue: Solana earns $2 million compared to Sui’s $7.5K.

Transactions: Solana handles about 45.4 million transactions daily, whereas Sui sees about 5 million, despite a temporary spike to 60 million.

3. Active User Engagement:

Solana boasts 9.4 million daily active addresses, showing strong user engagement.

In contrast, Sui has around 1.3 million active addresses.

Analyst Commentary:

Crypto trader Choze advises Sui holders to focus on developing its own unique strengths rather than aiming to dethrone Solana. Success in the blockchain space is often about finding a niche and creating valuable use cases.

Conclusion:

While SUI is gaining attention, it will require significant time and effort to genuinely challenge Solana’s dominance. The debate continues, but analysts suggest that Sui’s best path forward may not be to compete directly with SOL.

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