Will SUI or SEI be the next Solana with a 2500% price surge?

by
    The charts of SUI and SEI resembled SOL before its 2021 bull run.
    The TVL is growing for all, but which is a better fit for investment?

As a seasoned blockchain researcher with over a decade of experience in the crypto space, I have witnessed numerous bull runs and bear markets. The current altcoin market is particularly captivating, with SUI Network [SUI] and Sei [SEI] showing remarkable growth patterns that remind me of Solana’s [SOL] performance before its 2021 rally.

In simple terms, the market for alternative digital currencies (altcoins) is thriving, as numerous high-performing cryptocurrencies are experiencing a surge in popularity. Among these rising stars, the SUI Network [SUI] and Sei [SEI] have particularly stood out over the past three months, demonstrating remarkable growth.

During this timeframe, SUI and SEI have significantly increased. Specifically, SUI has experienced an impressive jump of more than 109%, while SEI has climbed up by 31%. These two stand among the top gainers in the market.

In the ongoing progress of blockchain technology, SUI and SEI could potentially witness significant expansion during Q4 of 2024, mirroring the growth trajectory of Solana’s [SOL] surge in 2021.

Read more$70 million in 24 hours: Can Ethereum crack $4,000 thanks to whales?

Charts resemble Solana’s 2021 pattern

As an analyst, I’ve noticed a captivating similarity when overlaying the charts of Solana and two other projects, namely SUI and SEI. The chart pattern that catapulted Solana to a staggering 2500% surge in 2021 seems to be echoed in the current patterns shaping up for both SUI and SEI.

Despite being theoretically-based, the rapid transaction speed of SUI has significantly boosted its performance in the market.

Similar to how Solana experienced its initial peaks and troughs in 2021, it’s possible that the same pattern might be seen with SUI and SEI. If market conditions continue to be advantageous, these two assets may experience comparable growth.

Read moreBitcoin halving could be a ‘sell-the-news’ event, at least for a few months

For Solana, there was a significant peak during the early part of Q3 2021, followed by a decline in late Q3. However, it subsequently surged more than 2,500% afterwards. This trend seems to be mirrored by SUI and SEI as well, hinting at a possible substantial increase in their prices.

TVL comparison for the three assets

Examining the combined worth secured (Total Value Locked or TVL) across these assets, Solana outperforms with a TVL of approximately $5.306 billion, significantly surpassing SUI and SEI, both of which are relatively fresh entrants in the market.

In simpler terms, SUI holds the second spot with a total value locked (TVL) of $1.116 billion, outdopping Polygon‘s (POL) TVL. Compared to this, SEI has a TVL of $534 million, which is just half of SUI’s TVL. Consequently, SUI appears more attractive for investors and traders looking for robust trading opportunities than SEI due to its stronger market position.

Although SUI and SEI have recently joined the market, they exhibit promise, yet Solana stands out as the undisputed leader in drawing value to its ecosystem, thereby maintaining a significant competitive advantage.

SUI vs SEI performance comparison

Read morePEPE flips Optimism: Can OP emerge from the memecoin mania?

As a researcher, I’m observing the current market prices in my analysis. At the moment, SUI is trading at $1.75, while SEI stands at $0.40. Interestingly, Solana, another significant player, is priced at $148.

The market cap of SUI is approximately four times higher than that of SEI, standing at $4.69 billion compared to SEI’s $1.4 billion.

It seems clear that SUI could offer a more promising investment choice compared to SEI, given its 297% rise in value this year, which is just a tad higher than SEI’s 286% increase.

Over the past month, SUI has experienced a significant increase of 82%, significantly surpassing SEI‘s growth of 33%. This places SUI as the potentially stronger investment option for the fourth quarter.

Both SUI and SEI show promising growth prospects, but it’s worth noting that SUI outperforms SEI across key indicators like market performance, total value locked (TVL), and general investor enthusiasm.

Read Sui’s [SUI] Price Prediction 2024–2025

The similarity between these two holdings is reminiscent of Solana’s 2021 price pattern, implying that they might see substantial growth if the market continues to be advantageous.

It seems that SUI looks like a better investment choice due to its greater price increases, larger market capitalization, and Total Value Locked (TVL), positioning it advantageously for a possible surge akin to Solana’s.

Read More

2024-09-26 00:08