Seeing this title, some people may think I am crazy. Is the price of Sui currency so vulnerable?
Then let’s look back at SOL’s early trends?
🎈This article is divided into two parts. The first part is easy to understand in plain language. In the second part, I use data to explain it to users who are more interested in Sui’s subsequent ecology.
Many people like to watch me interpret K-line, so let’s start from the perspective of K-line interpretation.
The above picture is the weekly chart of SOL. Since SOL was launched in 2020, it has also experienced a sluggish trend for nearly a year before ushering in the subsequent hundred-fold growth.
Let's take a look at Sui's trend in the past year. It can go up as well as down. From 0.35 last year to 2.18 this year, it has achieved a 5-fold return.
Many people will only look at the monthly unlocking of sui. I think the nature of the unlocked currency must also be considered. Unlocking only means the possibility of selling, not an absolute market crash.
If we only talk about supply and unlocking, ETH still has no upper limit🤔 Should we go short to zero? So I don’t agree with the single subjective view that unlocking means a sharp drop!
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What are the main differences between SUI and Solana?
1. Transaction speed
2. Consensus Mechanism
3. Ecosystem and developer support
The most intuitive thing is to just post the picture!
Sui has all the technical prowess needed to become a competitor to Solana. Sui’s theoretical maximum transaction volume is 297,000 transactions per second (TPS), while Solana’s theoretical maximum transaction volume is 65,000
🎈Just yesterday, Sui Network TVL exceeded 1 billion US dollars, setting a new record! 🎉
According to BlockBeats, on September 19, according to DefiLlama data, Sui Network TVL reached $1.004 billion, a record high. Among them:
The TVL of the lending agreement NAVI Protocol reached 399.55 million US dollars, with a weekly increase of 15.46%;
The TVL of the lending protocol Scallop Lend reached US$213.57 million, with a weekly increase of 20.83%;
Lending platform Suilend TVL reached $165.88 million,
Sui is a newer project and therefore has a smaller number of decentralized applications and platforms. However, Sui Labs actively supports developers through grants and educational programs, thereby stimulating the development of the ecosystem.
Analysts at K33 Research say Solana may currently be the top alternative layer 1 network behind Ethereum, but Sui Network could eventually compete for that position. This, coupled with its architecture and upcoming console release, could make it a top contender among “alt L1s.”
Is SUI the next Solana?
Solana has already established itself as a leader with an active community and numerous successful projects. In contrast, Sui’s ecosystem is still in its early stages of development and is currently far from Solana’s level.
In terms of positioning, Solana has already proven its value in the market.
Sui, on the other hand, is positioned as a next-generation blockchain focused on scalability and optimization. It aims to carve out its own niche, but its success has yet to be proven.
Therefore, we can consider Sui to be the "next Solana" as it represents a new and ambitious platform. However, they differ in terms of architecture, consensus mechanism, and stage of ecosystem development. Sui has potential, but its success will depend on how effectively it implements its innovations and attracts investors and users.
This week, there is a very important news that the native USDC will finally be issued on Sui. USDC, the world's largest regulated stablecoin, has issued more than 35 billion US dollars in total. What Libra failed to do before can finally be achieved on Sui.
Popular Science: Libra
Libra is a project released by Facebook in 2019, which aims to improve the lack of access to basic financial services for billions of people around the world by providing a simple, low-fee stablecoin, but it was later halted due to regulatory issues.
But it is well known that the core members of SUI are from the Facebook Libra project
Currently, USDC will be issued on SUI, followed by SUI+USDC, which is exactly what Facebook originally wanted to do.
This move is a deep one! 😁
After Sui has a native stablecoin, using zklogin technology, you can create a Sui wallet with a Google account, and the 2.57 billion global accounts linked to Google will have the opportunity to be imported into the Web3 field.
🎈 Sui is making history as the first Ethereum-based chain with native $USDC — providing users with a better Sui experience, whether using dApps in DeFi, Gaming, DePin, Cross-border Payments, Commerce, and more.
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