Sui (SUI) has captured the interest of market participants, being perceived as undervalued compared to established platforms like Cardano (ADA). Recent metrics reveal a noteworthy disparity: SUI's DeFi Total Value Locked (TVL) increased by 4.74%, reaching $2.838 billion, while Cardano's TVL decreased by 3.82% to $414.92 million. Over the past year, SUI's user engagement has skyrocketed with daily active addresses growing by 1,770.9% to 1.4 million, in stark contrast to Cardano’s decline of 26.2% to 23.5k. SUI's higher transaction volumes and revenue generation further illustrate its strong performance.
Stablecoin supply on SUI has also reached a record high of 908 million, enhancing liquidity and promoting network activity, including staking and farming. This data suggests that SUI is potentially undervalued compared to Cardano, which has been operational for eight years. Despite this, both SUI and Cardano faced challenges from market volatility, but SUI's rebound has caught the eye of many investors.
SUI has recently posted a remarkable 51% increase over the past month, while Cardano achieved a modest gain of just 5%. Though ADA holds a 116% gain from its election day lows, SUI's price recovery brings it back to levels not seen since mid-February, whereas Cardano struggles to revisit the $1 mark.
These patterns reflect investor psychology, with traders increasingly favoring SUI due to its growth potential. The competition between these Layer 1 blockchains is ongoing, and SUI’s upward trajectory could redefine its position against Cardano.
Stablecoin supply on SUI has also reached a record high of 908 million, enhancing liquidity and promoting network activity, including staking and farming. This data suggests that SUI is potentially undervalued compared to Cardano, which has been operational for eight years. Despite this, both SUI and Cardano faced challenges from market volatility, but SUI's rebound has caught the eye of many investors.
SUI has recently posted a remarkable 51% increase over the past month, while Cardano achieved a modest gain of just 5%. Though ADA holds a 116% gain from its election day lows, SUI's price recovery brings it back to levels not seen since mid-February, whereas Cardano struggles to revisit the $1 mark.
These patterns reflect investor psychology, with traders increasingly favoring SUI due to its growth potential. The competition between these Layer 1 blockchains is ongoing, and SUI’s upward trajectory could redefine its position against Cardano.
