The DEX trading volume of the SUI Network has surpassed that of Solana, raising questions about its long-term growth potential.
SUI's DEX trading volume has surpassed Solana, reaching $7.5 billion, attracting investor interest.
Driven by technological advancements, SUI's rapid development has positioned it as a formidable competitor in the blockchain space.
The SUI Network has surpassed Solana [SOL] in DEX trading volume, achieving an astonishing $7.5 billion in trading volume.
This rapid growth has drawn attention across the entire crypto space, igniting renewed interest from investors in SUI's potential.
As its ecosystem expands with new projects and enhanced features, many are wondering: will this momentum drive up SUI's price?
Key factors driving SUI's growth
When comparing DEX trading volumes, SUI demonstrates a stronger growth trajectory than Solana.
Over a period of 550 days, with data aggregated every 50 days, the former's trading volume reached 25.4 billion, exceeding Solana's 17.9 billion.
User activity on both networks has increased, but the growth rate of SUI accelerated around day 300, indicating that Solana has significant appeal and potential for outperformance in trading activity.
The surge in DEX trading volume for SUI can be attributed to its recent advancements.
These include the launch of the Mysticeti consensus engine to enhance transaction capabilities and its integration with Google Cloud for scalable, secure application deployment.
How prices respond to the growth of DEX
SUI's price performance is strong, reflecting its recent superiority in DEX trading volume over Solana. As of the time of writing, its trading price is approximately $2.30, achieving an impressive increase of 82.80% in recent months.
In contrast, SOL's price increase during the same period was 35.64%, indicating that SUI far outperforms Solana in terms of investor interest and market momentum.
Its trading volume has also significantly increased, indicating a rise in activity and buying interest.
SUI's RSI stands at 61.61, indicating strong buying momentum but still below the overbought threshold, which may suggest further room for an increase.
OBV has also shown a steady upward trend, indicating strong accumulation.
This price momentum aligns with the increased DEX trading volume for SUI—signifying growing utility, investor confidence, and potential price appreciation.
Overall, driven by the strengthening dominance of DEX, SUI's price has surged, indicating a favorable outlook for further increases.
