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<p>In a recent post, Xremlin (@0x_gremlin) explored whether SUI could mirror Solana’s impressive 150x rally from 2021. He began by reminiscing about the explosive growth of Layer 1 blockchains, noting significant gains for tokens like $FTM and $SOL.</p>
<p>Xremlin highlighted SUI’s rapid development and its potential to compete in the blockchain space.</p>
<p>Xremlin emphasized that SUI is a young Layer 1 blockchain making significant strides, particularly due to its capacity to handle multiple transactions simultaneously. Utilizing the <a href="https://tokenminds.co/blog/blockchain-development/move-programming-languange" target="_blank" rel="noopener noreferrer nofollow">Move programming language</a>, SUI provides developers with a highly efficient environment for building applications.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1012" height="1024" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-1012x1024.png" alt="" class="wp-image-558993" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-1012x1024.png 1012w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-296x300.png 296w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-768x777.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-1518x1536.png 1518w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-2024x2048.png 2024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-148x150.png 148w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-100x101.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-346x350.png 346w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-529-788x797.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-529.png 672w" sizes="(max-width: 1012px) 100vw, 1012px">
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<p>He pointed out that SUI’s maximum transactions per second (TPS) reached an impressive 297,000, far surpassing Solana’s 65,000. Although real-world conditions may not yet support such high numbers, this performance indicates SUI’s substantial scalability potential.</p>
<p>Over the last month, SUI saw a notable increase in daily active addresses, tripling to 1.5 million. This surge in user engagement contributed to a new all-time high in<a href="https://captainaltcoin.com/sui-network-breaks-900-million-in-tvl-as-sui-price-explodes/" target="_blank" rel="noopener noreferrer nofollow"> SUI’s total value locked (TVL)</a>, which reached $873 million, nearing Polygon’s $892 million.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="461" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-1024x461.png" alt="" class="wp-image-558984" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-1024x461.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-300x135.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-767x345.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-1536x691.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-2048x922.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-333x150.png 333w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-778x350.png 778w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-528-788x354.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-528.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><strong><em><span style="text-decoration: underline">Read Also: <a href="https://captainaltcoin.com/why-its-worth-accumulating-solana-sol-at-this-price/" target="_blank" rel="noopener noreferrer nofollow">Why It’s Worth Accumulating Solana (SOL) At This Price</a></span></em></strong></p>
<p>Xremlin provided updates on SUI’s recent developments, including:</p>
<ul class="wp-block-list">
 <li>The launch of USDC by Circle</li>
 <li>The introduction of the Hydropower Accelerator program</li>
 <li>The launch of the AUSD stablecoin</li>
 <li>Pre-orders for a Sui gaming handheld</li>
 <li>A partnership with the 3DOS 3D printing network</li>
</ul>
<p>He noted that SUI is currently one of the best-performing Layer 1s, with gains of 240% from local lows, compared to Solana’s 38%. However, he cautioned that a significant token unlock is scheduled for October 1, which could lead to a price correction as 64.5 million $SUI tokens will be released.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="875" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-1024x875.png" alt="" class="wp-image-559001" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-1024x875.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-300x256.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-768x656.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-1536x1312.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-2048x1750.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-176x150.png 176w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-100x85.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-410x350.png 410w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-530-788x673.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-530.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>When comparing daily trading volumes, Xremlin observed an uptick in SUI’s volume over the past month, while Solana’s volume is declining. Despite this positive trend, SUI still has a considerable gap to close to match Solana’s trading volumes. The recent increase in SUI’s volume is partly attributed to a current “<a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> season.</p>
<p>To illustrate token performance, he provided examples of several tokens in the SUI ecosystem, such as $BLUB, $HSUI, and others, which have seen impressive multipliers.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/why-is-kaspa-dropping-in-the-top-50-cryptos-kas-price-prediction-2024/" target="_blank" rel="noopener noreferrer nofollow">Why Is Kaspa Dropping in the Top 50 Cryptos? KAS Price Prediction 2024</a></em></strong></p>
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<p><a href="https://x.com/0x_gremlin/status/1838206560545235024?t=Yp83kSdOj4udALy-9LtRbg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Xremlin expressed</a> that while he views SUI positively, he does not believe it can directly compete with Solana. Nevertheless, he considers it a viable short-term trading opportunity, suggesting that $SUI is becoming a prominent player in the second phase of the market cycle, outperforming many competitors and gaining traction among significant crypto influencers.</p>
<p>He concluded by sharing a list of key projects within the SUI ecosystem, highlighting their market capitalizations and exchange listings.</p>
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<p>The post <a href="https://captainaltcoin.com/can-sui-price-replicate-solana-sol-last-150x-rally-as-bullish-metrics-rise/" rel="noopener noreferrer nofollow">Can SUI Price Replicate Solana (SOL) Last 150x Rally as Bullish Metrics Rise?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Can SUI Price Replicate Solana (SOL) Last 150x Rally as Bullish Metrics Rise?

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