SUI has been outperforming Solana in price for some months now. From August until now, the price of SUI has experienced close to a 700% spike. SOL, on the other hand, has only seen around a 120% increase, although SOL has also been bullish.
It seems that SUI is not only outperforming in price, as CryptoBullet, a crypto analyst with more than 130,000 followers on X, pointed out some figures regarding these tokens.
According to CryptoBullet, SUI is currently doing better than Solana, suggesting that the trajectory of SUI’s price movements could see further spikes.
The analyst noted that while SUI is mirroring the growth pattern that Solana exhibited, it operates from a significantly higher market cap—$10 billion compared to Solana’s $2.3 billion during a similar phase in early 2021.
Read Also: Solana Bulls Charge Toward $260: Can SOL Price Break Through?
The rapid growth of SUI’s Total Value Locked (TVL) is also a factor to consider; it currently stands at $1.6 billion. This is in stark contrast to Solana’s TVL, which was just below $150 million when Solana was at a similar point in 2021.
Interestingly, while Solana’s price increases in early 2021 coincided with a decline in Bitcoin’s dominance, SUI is currently experiencing price growth alongside a rise in Bitcoin dominance.
The analyst noted that SUI’s price surged from $1 to $3.90 even as Bitcoin dominance increased by 5%. This performance suggests that SUI could see even greater price increases if Bitcoin dominance begins to decline.
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