According to PANews, data from Artemis indicates a significant increase in the number of on-chain transactions on the SUI blockchain on May 3rd. The transactions surged more than 20 times, reaching 41 million. This figure surpassed the number of transactions on the Solana blockchain, which stood at 27.7 million on the same day.
However, the volume of on-chain transactions on SUI quickly declined following this surge. It has now returned to its previous average level of around 3.45 million transactions. This rapid rise and subsequent fall in transaction volume highlight the volatile nature of blockchain transactions.