Key Insights
- Sui is making waves in the crypto market, especially with its recent foray above the $5 mark.
- The cryptocurrency recently displaced Chainlink to become the 12th largest cryptocurrency by market cap.
- Its collaboration with Grayscale and Van Eck has been instrumental to its success.
- Sui is on track to challenge Solana sooner or later.
SUI recently made headlines in the crypto market, after climbing to a new ATH of $5.35.
This impressive feat helped it solidify its position as one of the top Layer-1 blockchain ecosystems on the market.
The SUI network now has a market capitalization of around $15 billion and has risen to become the 12th largest cryptocurrency.
This also means that Sui is now knocking on Solana’s door, and could spend even longer making headlines.
Here are some of the factors driving this success, and why Sui is reshaping crypto.
Breaking Down Sui’s Milestones
The headlines began on 7 January, when the cryptocurrency hit an ATH of $5.35.
This achievement helped it to displace Chainlink from its spot as the 12th largest cryptocurrency.
It also came after a controlled unlocking of 82 million SUI tokens (representing 0.82% of the total supply).
This strategic move improved liquidity in the SUI ecosystem and somehow helped the cryptocurrency avoid the market disruptions that typically come with token unlocks.
Even more impressive is how DefiLlama data shows that the SUI network’s defi TVL has hit a high of $2 billion.
This explosive growth likely came on the heels of Dapp adoption and collaborations with notable institutions like VanEck, and Franklin Templeton.
A “Solana Killer”?
Sui has earned the nickname “the Solana Killer” because of its scalability and high-speed performance.
The network is built on a Delegated Proof-of-Stake (DPoS) consensus mechanism, which allows it to efficiently process transactions.
Another one of its standout features is the integration of zero-knowledge proofs (ZKPs) via the Groth16 zk-SNARK variant.
The above allows the network to offer users enhanced privacy—which makes it a bold competitor to other layer-1 blockchains like Solana and Aptos.
Sui uses its custom MOVE programming language, which allows developers to write better smart contracts with efficient proof generation.
So far, Sui is a direct competitor to Solana with its ability to handle over 300,000 transactions per second.
Additionally, Sui’s inclusion in Grayscale’s crypto product suite and the launch of the Sui Trust have played a major role in boosting its market credibility.
Institutional Interest and Market Sentiment
Sui crypto’s remarkable rise aligns with growing interest in DeFi from all around the world.
Interestingly, its TVL sat somewhere around $242 million in January 2024 and hit a peak of $2.6 billion sometime in early 2025.
The institutional backing from heavyweights like Grayscale has been instrumental to its growth.
Political developments in the US have also been major factors, with Donald Trump as president and Paul Atkins as incoming SEC chair.
What’s Next for Sui Crypto?
The Sui Network’s future looks promising, as it continues to innovate.
Its robust technical foundation makes it well positioned to continue moving upwards, and even go head-to-head with Solana.
Sui remains a major part of the layer-1 blockchain landscape with its growing ecosystem.
Its ATH price and expanding TVL show that investors are heavily confident about its future.
As the network continues to grow, it could become a more dominant force in the crypto world and even challenge established players like Solana.
Stay tuned for more Sui crypto news in the future!