Sui and Solana have emerged as top contenders in the altcoin space, boasting unique strengths of their own. A closer look at their recent market trends reveals that Sui coin has been outperforming the popular Solana in terms of inflows. In addition, the network has also gained traction with its total value locked (TVL) hitting an all-time high of $2.1 billion this week.
Sui Records $2.1B TVL, Outpaces Solana in Inflows
In the Sui vs Solana showdown, both blockchains continue to attract investor confidence. According to data from DefiLlama, the Sui blockchain has seen massive growth, with its TVL reaching a new all-time high of $2.1 billion. Reportedly, this surge is driven by growing user activity, network trust, and integration with platforms like Navi.
In addition, the blockchain platform has also caught attention with its significant institutional flows, outperforming Solana. With $84.07 million in YTD inflows, the network surpasses Solana. This reflects a shift in institutional interest towards promising Layer 1 blockchains this year.
Competition Heats Up
Recent reports suggest that Solana’s dominance is threatened by several key factors. Notably, the network is facing increased competition from other platforms like Sui.
In addition, other concerns like limited decentralization and reliance on speculative trading have also cast a shadow over its future prospects. Experts opine that Layer 2 solutions like Base and newer Layer 1 networks, such as Sui, are a growing threat to Solana due to their strong technical performance and growing adoption.
Moreover, the US SEC’s recent decision to delay the decision on Solana ETFs has further added to the ambiguity surrounding the network.
SUI, SOL Prices Surge: A Closer Look
Despite their alleged rivalry, both tokens exhibit a strong performance. As of press time, SUI is trading at $3.93, down by 0.8%. Despite this marginal dip, the token has seen massive surges of 17% and 70% over the past week and month, respectively. With a market cap of $13.14 billion, the token is ranked 11th on CoinMarketCap.
As per CoinGape’s SUI Price Prediction, the token is set for a bullish rebound in 2025 to reach an impressive $5.03.
Meanwhile, SOL price has seen a 3.5% rise over the past day, a 22.4% hike over the past week, and a 36% increase over the past month. Boasting a market cap of $93.83 billion, Solana stands firm at the 5th position.
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