In a market marked by volatility, Sui has shown resilience against its competitors, recording the smallest drop in the last three months, according to a recent report by Coinshares.
The cryptocurrency market has seen turbulent times in recent months. While many crypto assets and projects have suffered significant declines, Sui has managed to stand out for its relative stability. This is according to analysts at Coinshares, who highlighted in a recent report that Sui has seen the smallest decrease in value among its closest competitors, such as Solana, Sei and Aptos.
According to the report, this performance has generated significant interest in the community as investors seek more resilient assets in an uncertain economic environment.
Sui Network Leads the Layer 1 Altcoin Market
Sui, a blockchain project that focuses on offering scalability and usability to its users, has maintained a peculiar trajectory amid the widespread volatility of the crypto market. Analysts at the firm explained that although the market in general has faced challenges, Sui has proven that its fundamentals and adoption can be key factors in its resilience.
In fact, analysts said that L1 networks almost always pursue the same objectives and maintain very similar architectures focused on speed, scalability, accessibility and user experience. However, there is one differentiating factor and that is adoption, they said in the report.
“…The key differentiator is achieving scale and adoption. Sui appears to have the winning foothold in the battle.”
The ecosystem of Layer 1 cryptocurrencies and projects has grown significantly in recent years. Ethereum, Solana and BNB Chain blockchains have struggled to position themselves as viable alternatives to Bitcoin, offering different scalability, governance and application models. In this landscape, Sui has emerged as a relatively young but ambitious player.
PREPARE YOUR WALLETAlthough Coinshares analysts acknowledge that this blockchain still has a long way to go to surpass more established competitors such as Solana, Sei and Aptos, the significant pressures they have faced in the past three months, with declines ranging from 40% to 60%, have contributed to improving Sui's appeal, which has managed to limit its decline to less than 20% over the same period. The above figures represent the remarkable performance of the cryptocurrency in the market and the degree of confidence of its investors and users, compared to its peers.
Source: CoinMarketCap
According to analysts, this resilience of Sui can be attributed to several factors, including its Delegated Proof of Stake (DPoS)-based consensus model and focus on usability. On the other hand, Sui’s growing adoption in the DeFi and NFT space has been another major factor. According to recent data, the transaction volume on the Sui network has increased significantly, suggesting that users are finding value in its services.
Thus, although the market in general has been marked by uncertainty, Sui has managed to maintain a certain stability, which has captured the attention of investors and analysts.
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57 TPS and more than $3,9 million in fees
El report Coinshares’ report on the performance and resilience of the Sui network also focused on key metrics such as the number of transactions processed per second (TPS) and the total fees generated by its operations. In this regard, the report detailed that the network had an average performance, in the last 3 months, of 57 TPS compared to 47 TPS on the Sei network and 49 TPS on Aptos.
On the other hand, in terms of total fees generated in this same period, Sui recorded $3,9 million, surpassing the fees generated by Sei by 124 times and those generated by Aptos by 9 times in this time. However, despite these favorable metrics, analysts stressed that, compared to more established ecosystems, Sui still represents a small fraction of the crypto market.
LINK CARD AND EARNIn short, Sui has proven to be a resilient project in an environment marked by uncertainty. According to Coinshares' report, its smaller decline compared to its closest competitors positions it as an interesting case in the cryptocurrency space.
While the market remains volatile and fraught with challenges, Sui’s performance suggests that its focus on usability, scalability and adoption is paying off. For investors and enthusiasts, this could be an indicator of the innovation that this blockchain network can offer.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
