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- Real Vision CEO points out that Sui has broken a key downtrend vs the top 20 tokens which positions it for a bullish run.
- According to a K33 Research report, Sui could displace Solana as the top alternative layer-1 network.
Layer-1 blockchain Sui (SUI) has been tipped as an incredible force to reckon with after showing resilience in the face of the recent market downturn. According to our market analysis, Sui has made a massive statement with a 36% surge in the last seven days and a 70% surge in the last 30 days. At press time, the asset was trading at $1.44, and its 24-hour trading volume was up by 28%.
Speaking on the asset, Real Vision CEO Raoul Pal disclosed to his million X followers that Sui’s future trajectory appears bullish, as confirmed by market signals, growing adoption, and technological upgrades. Throwing light on this, Pal pointed out that the asset has broken the downtrend vs Solana (SOL) and all the top 20 tokens. In addition to that, its Relative Strength Index validates any form of bullish thesis with the asset “acting like it would be one of the key Chosen Ones of the major new chains, if not THE Chosen One.”
From the technological perspective, Pal believes that the recent Mysticeti upgrade has led to a jaw-dropping finality that is under a second. Interestingly, this makes it the “fastest of all chains.” Pal also cited the upcoming Pilotfish as another upgrade that could transform the network and position it above competitors. According to our research, the Pilotfish has been designed to scale transactions per second (TPS) even above that of Solana Firedancer. This, coupled with the recent decision of Circle to issue stablecoin (USDC) on the platform, could be “another good step” towards outpacing competitors, Pal said.
But what are Sui/Mysten Labs trying to achieve? Basically, they are trying to rebuild the internet, brick by brick for Web3. It is built to scale to Facebook/Meta size use cases (3 billion-plus) from zero-knowledge (ZK) logins to the coming Walrus decentralized storage protocol. But SUI is still in its early innings and the proof will have to be in successful applications that scale built on top of the tech stack.
Pal, supporting his points even further, mentioned that the gaming sector is another area that Sui could strategically dominate. Coincidentally, this position aligns with a recent K33 Research report analyzed by CNF.
The K33 Research Report
According to K33’s recent research report, the upcoming handheld gaming console by Sui, SuiPlay0x1, is a major bullish offering that could be likened to Solana’s first mobile device, Saga. Similar to Solana, in which allocated airdrops far exceeded the upfront cost of the device itself, the Sui console would be accompanied by an ”Eternals” Non-Fungible Token (NFT). This implies that exclusive rewards would be unlocked.
The research report also admits that the Sui network may rival Solana for the position of the top alternative layer-1 network behind Ethereum (ETH). According to K33’s DeFi analyst David Zimmerman, Sui has all the technical requirements to outpace Ethereum, especially with its theoretically maximum TPS of 297,000 against Solana’s 65,000.
On the other hand, the report admits that Solana edges Sui in terms of tokens in circulation. 80% of Solana’s total supply is currently in circulation, compared to Sui, which has only 27%. This implies that the current investors could be at risk of a sell-off when the future tokens are unlocked.
