SUI has performed strongly over the past year, from being initially unpopular to now exceeding $1 billion in locked value (TVL), becoming one of the most promising Layer-1 blockchains. As the network continues to expand, SUI is attracting more and more developers and users, and it may become the next Solana. In this article, we will explore SUI's latest progress, potential, and how to maximize the use of SUI assets.
α / One year can change everything, looking back at SUI's situation one year ago
- On October 7 last year, SUI’s total locked value (TVL) was only $37.8 million.
- Today, SUI’s TVL has reached $1.099 billion, an increase of more than 27 times.
Today, SUI is showing a strong uptrend, I will reveal to you how to take advantage of your SUI assets ⬇️
SUI Token Overview: Why is it considered the next Solana?
As a Layer-1 blockchain, SUI is leading another wave of growth, and its network expansion brings new growth opportunities. In the past month, SUI prices have risen by 140%, and in the past year it has increased by 370%.
Why is SUI expected to become the next Solana?
- Solana was launched in 2020 and solved Ethereum's scalability problem with its PoH consensus. It quickly became popular due to its high transaction speed, low fees, and high throughput. SUI also has these characteristics, attracting more and more users and developers.
- Like Solana, SUI attracts users and developers who are dissatisfied with Ethereum's high gas fees through low fees. Solana has achieved success through dApps, DeFi, and NFTs, while SUI has attracted a large number of developers through its secure, scalable platform and Move programming language.
Comparison between SUI and SOL
When we compare Solana in 2020 to SUI today, we can see that SUI may surpass Solana in potential.
- Daily active addresses: SUI 841,000 <> SOL 3.3 million
- Daily trading volume: SUI 9 million <> SOL 40.4 million
- Total locked value: SUI $1.099 billion <> SOL $5.5 billion
Important projects of SUI ecosystem
1. @CetusProtocol
Cetus is a leading decentralized exchange (DEX) and liquidity protocol based on the Move ecosystem, providing returns from liquidity pools, farms, and vaults.
- TVL: $202.88 million
- Average daily income: $54,000
- Average annualized rate of return (APY): 10.3%-25%
2. @navi_protocol
NAVI is a protocol for providing overcollateralized loans and borrowing on SUI, supporting SUI, USDC, USDT, wETH and wBTC, and plans to launch cross-chain options.
- TVL: $406.29 million
- Average APY: 5.04%
3. @Scallop_io
Scallop is a new generation money market on SUI, focusing on institutional-grade quality, composability, and strong security.
- TVL: $175.91 million
- Average daily income: $4,000
- Average APY: 5.23%
in conclusion
SUI is undoubtedly a blockchain to watch. Its recent price surge and expanding developer community put it on track to become the next big player in the crypto space, similar to Solana’s rise in 2021.
However, the current blockchain competition landscape is more intense than when Solana was launched. To maintain its growth momentum, SUI must continue to innovate and evolve at a rapid pace.
