Continuing the story, if you want any token to increase in price, just compare it with $SOL.
$SUI has just unlocked 100M tokens, but the price doesn't seem to be affected much, because of BTC, the price has just adjusted accordingly.
Solana and Sui are both L1, but Sol is still very strong, so don't kill anymore :)) just hope to pump.
1) Solana has had a growing ecosystem since 2020, with many related projects and tokens
Sui has about 90 projects and 61 tokens in the ecosystem. With a 1-year lifespan compared to Solana's 4 years, it is reasonable to explain that the Sui ecosystem is new and on the rise.
2) Solana and Sui financial products:
Solana: There are 2 exchange-traded funds (ETFs) proposed in Brazil, but they still need approval from the B3 exchange.
However, in the US, the SEC forced Solana ETF proposals to withdraw because they still consider SOL a security.
Sui: There is an ETP in Europe through 21Shares, currently listed on Euronext Amsterdam and Euronext Paris.
In addition, Grayscale has launched a trust fund for Sui - Grayscale Sui Trust.
3) Price
- The current SUI price is $1.81. The market cap is $5 billion. However, out of the 10 billion max supply, only 2.7 billion are in circulation. That is not a good condition
=> Sui still has a lot of tokens to unlock. At the beginning of October, 64.19 million SUI tokens were unlocked.
- The current SOL price is $147.7 with a market cap of $69.2 billion. However, SOL has an unlimited supply. The total supply is 585.67 million and the circulating supply is 468.3 million SOL.
=> Therefore, the tokenomics of both are not the best. Every day, 66.54 thousand SOL are issued ~ 10.15 million USD.
SOl's MC is 13.8 times that of SUI, whoever wants to kill must pump quite strongly, but when it goes up, why doesn't SOL pump?