SUI vs Solana [SOL]: How $7.5B in DEX volume changed the game

SUI’s DEX volume has surpassed Solana’s, reaching $7.5 billion and drawing investor interest.
Powered by tech advancements, SUI’s rapid growth positions it as a strong blockchain competitor.

As a seasoned analyst with over two decades of experience in the tech and finance sectors, I must admit that the rapid growth of SUI Network has caught my attention. Having witnessed the rise and fall of numerous blockchain projects during this time, it’s refreshing to see a newcomer like SUI showing such promising signs.

The SUI Network is currently leading Solana [SOL] in the area of decentralized exchange (DEX) trading volume, with a significant total of 7.5 billion dollars worth of transactions.

The swift expansion of SUI has caught attention throughout the cryptocurrency industry, igniting new curiosity among investors intrigued by its promising prospects.

With each addition of new projects and improvements to its functions, a question arises: might the ongoing growth propel the value of SUI even further?

Key factors behind SUI’s growth

SUI vs Solana [SOL]: How $7.5B in DEX volume changed the game

When comparing DEX trading volumes, SUI has shown a stronger growth trajectory than Solana.

For approximately 1.5 years, accumulating data points every 50 days, the trading volume of this platform exceeded Solana’s, with a total volume of 25.4 billion trades recorded, compared to Solana’s 17.9 billion.

Both networks have increased in user activity, but SUI’s growth rate accelerated around day 300, suggesting significant traction and potential outpacing of Solana in trading activity.

SUI’s DEX volume surge can be credited to its recent advancements.

The introduction took place of the Mysticeti consensus engine, designed to enhance transaction capability, as well as its combination with Google Cloud for deploying scalable and secure applications effortlessly.

How price responded to DEX growth

As an analyst, I’ve observed a robust price trajectory for SUI, which seems to underscore its current supremacy over Solana in Decentralized Exchange (DEX) volume. At the moment of press, the token is trading at approximately $2.30. Over the past few months, it has managed an impressive 82.80% growth, a testament to its market strength and potential.

Over the given timeframe, SUI’s price growth outpaced Solana’s by a significant margin, with an impressive surge of 35.64%. This suggests that Suisei (SUI) was attracting far more investor attention and generating stronger market dynamics compared to Solana.

Its trading volume has also spiked, suggesting increased activity and buying interest.

SUI vs Solana [SOL]: How $7.5B in DEX volume changed the game

SUI’s Relative Strength Index (RSI) was at 61.61, suggesting a robust buying trend, yet it remains under the overbought limit, potentially implying additional upward potential.

The OBV also shows a steady upward trend, pointing to strong accumulation.

Read Sui [SUI] Price Prediction 2024-2025

The rising price trend matches the surge in SUI’s DEX trading volume, which suggests expanding practical use, rising investor trust, and possible future price growth.

All told, the significant surge in SUI’s price is fueled by its increasing control over the decentralized exchange market, implying a positive forecast for additional growth.

2024-11-08 09:11

Key factors behind SUI’s growth

How price responded to DEX growth

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