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- In the grand theater of blockchain, Sui struts about like a peacock, all feathers and flair, when compared to the likes of Solana.
- DeFi performances have been the roaring engines behind both, chugging along like a train on a mission.
Ah, the Sui network! A sprightly young thing, it has burst forth like a wildflower in the desert, growing faster than a rumor in a small town. Over the past year, it has danced a merry jig alongside Solana, whose Web3 ecosystem has exploded like a firecracker on the Fourth of July, especially with the memecoin shenanigans that have taken the world by storm. 🎆
But let us ponder, how does Sui measure up against the seasoned Solana? Could its meteoric rise be a harbinger of what’s to come in the next twelve months? To set the stage, Solana’s Total Value Locked (TVL) was a humble $250 million at the dawn of 2023. Fast forward, and it has skyrocketed to a staggering $14.24 billion, as if it were a contestant on a game show, spinning the wheel of fortune.
Sui, too, has been on a rollercoaster ride, leaping from below $250 million to a commendable $2.18 billion earlier this month. Not too shabby for a newcomer, eh? 🎢
source: DeFiLlama
Now, let’s not kid ourselves; Sui’s TVL is still a wee bit shy compared to Solana’s, but who knows? In a year’s time, it might just be strutting around in Solana’s shoes. When it comes to volume, Solana has been flexing its muscles, operating on a scale that makes Sui look like a toddler trying to lift weights.
For instance, Solana hit a jaw-dropping daily on-chain volume of $35.89 billion on January 18. Meanwhile, Sui, bless its heart, recorded a high of $559.97 million on December 20. Still, it’s a remarkable feat, considering it was barely crawling with just over $25 million in daily volume a year prior. Talk about growth! 💪
How does Sui compare to Solana in terms of address growth?
Solana was like a shy wallflower, with less than 1 million daily active addresses before March 2024. But lo and behold, it has since blossomed into a social butterfly, fluttering over 5 million daily active addresses in the last couple of months.
On the other hand, Sui had its own little growth spurt between April and May 2024. It started off as a mere 12,000 addresses, but by May 23, it had ballooned to a whopping 2.3 million active addresses. Quite the transformation, wouldn’t you say? 🌼
However, like a summer fling, the excitement has cooled, with the latest data showing it has dipped below 600 daily active addresses as of January 22. Ouch! 😬
Both Solana and Sui have been riding the DeFi wave, with activity surging like a tidal wave crashing onto the shore. Here, the similarities between the two become as clear as day. Both have been basking in the glow of stablecoin growth and institutional interest, with investors scouring both ecosystems for golden opportunities. Solana, in particular, has been riding the memecoin craze like a surfer on a big wave. 🏄♂️
What does this all mean? While Sui may not have fully embraced the memecoin madness like its older sibling Solana, it has certainly made a splash in its first year. In simpler terms, it could very well continue its robust growth trajectory, just as Solana has done over the years. So, grab your popcorn, folks; this show is just getting started! 🍿
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2025-01-25 10:17