A YouTube video from the “Everything Crypto Show” examined whether SUI could replicate Solana’s (SOL) growth in this bull cycle. The video examined price trends, on-chain metrics, and market cap comparisons.
What you'll learn 👉
SUI’s Price Trends Mirror Solana’s Past Moves
According to the analyst SUI delivered a 323% higher return than SOL since August of the previous year. The maximal price reached by SUI was $5.36 in its history yet it reduced to $2.43 while experiencing a 54% loss before it started growing again.
Repeated historical patterns indicate Solana experienced a decrease from $42 to $24 which led to reaching $250 during 2021. As per the analyst, the normal behavior during bull phases includes such market volatility. Bitcoin goes through 20-30% corrections as an average level of decline and altcoins experience 40-50% drops during market downturns before recovering.
The video compared SUI and Solana’s blockchain performance. SUI processed 297,000 transactions per second (TPS) versus Solana’s 65,000. It also had a faster finality time of 400 milliseconds compared to Solana’s 12.8 seconds.
However, Solana led in user adoption, with 6.4 million daily active addresses versus SUI’s 679,000. Solana also had higher transaction volume, with 2 billion transactions in January 2024 compared to SUI’s 140 million. The analyst noted that while Solana dominated in adoption, SUI’s superior speed and lower fees could drive future growth.
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Market Cap Comparisons and Price Projections
SUI’s potential valuation is analyzed based on market cap comparisons with Solana. The analyst asserts that if SUI were to reach Solana’s current market capitalization of $105 billion, its price could surge to $34, a 9.22x increase.
Meanwhile, if SUI mirrored Solana’s previous cycle peak of $75 billion, it could climb to $24.47, marking a 552% rise. A more conservative scenario, where SUI attains half of Solana’s past peak at $37.5 billion, would place its price at approximately $12.40, reflecting a 224% gain.
Growth Catalysts for SUI
The analyst pointed out key developments that could boost SUI’s adoption. Phantom Wallet, a popular Web3 wallet with 15 million monthly users, had integrated SUI. This could drive increased user engagement, similar to how Phantom benefited Solana.
Additionally, SUI’s meme coin market stood at just $250 million compared to Solana’s $14 billion. The speaker suggested that SUI’s ecosystem could expand further, attracting new investors and projects.
Solana’s price stands at $195.15 while its market capitalization reaches $95 billion. SUI is available at $3.33 as its market capitalization stands at $10.3 billion.
The analyst concluded that SUI was growing rapidly but remained behind Solana in adoption. While its technology was more advanced, user growth was crucial. If SUI followed Solana’s past cycle, its price could range between $12 and $34.
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