SUI Price Hits All-Time High – Could it Overtake Solana and Reach $100?
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
Sui (SUI) has surged to a new all-time high of $2.30 on Monday, driven by a spike in on-chain activity and increased interest in its blockchain capabilities.
Following this peak, the price dipped slightly to the low $2.20s due to profit-taking, though the strong upward trend remains intact.
Many investors are watching closely, as SUI continues to be one of the top-performing cryptocurrencies in the market.
SUI has shown remarkable growth, rising over 4x from its sub-$0.50 lows in August. Over the last 30 days, it has surged more than 120%, according to data from CoinMarketCap, bringing Sui’s market capitalization to just over $6 billion.
This growth can be attributed to a surge in activity on the Sui blockchain, which has captured the attention of both traders and developers alike.
Sui’s increased activity has been partly fueled by the rise of meme coin trading, which has pushed on-chain trading volumes to around $200 million in recent days, according to DeFi Llama.
This spike in activity has also propelled Sui’s total value locked (TVL) to a record high of $1.13 billion, marking a major milestone for the blockchain.
As Sui’s network gains momentum, comparisons with larger platforms like Solana are becoming more frequent.
Currently, Solana’s market cap stands at $71.7 billion, roughly 12 times greater than Sui’s $6 billion.
However, when looking at fully diluted market caps—which account for all tokens that could potentially enter circulation—Solana’s $90 billion valuation is only about four times larger than Sui’s.
The recent
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