I seem to have discovered a second SUI

From a market capitalization perspective, the price of SUI is 30 times that of BERA, with a total valuation of 12 billion dollars, while BERA is only 400 million dollars. However, in terms of on-chain data, BERA's performance is much more impressive. Its total locked value (TVL) reaches 3 billion dollars, which is double that of SUI, while their trading volumes are basically on par. In addition, BERA's average daily application revenue reaches 65,000 dollars, which is quite considerable in the current market environment.

Looking back to when SUI had a valuation of 400 million dollars, its TVL was only 100 million dollars. In contrast, BERA demonstrates stronger on-chain activity and ecological value at the same valuation. Nevertheless, BERA's price is still significantly lower than that of SUI, and from a fundamental perspective, both are fully competitive.

Considering BERA's current on-chain performance, the project's valuation seems to be severely underestimated, especially compared to similar projects launched in the past at higher valuations. It is worth noting that BERA has raised over 140 million dollars, and there will still be upcoming token releases, which may bring some dilution effects. However, its vesting schedule is relatively reasonable, with the main unlocks planned to gradually occur after February 2026, providing the market with a certain buffer period.

Those who missed out on SUI can take a look at BERA.