In every crypto bull market, there is always a public chain that rides the wind and becomes the market's focus.
In 2017, ETH stood out in the wave of smart contracts; in 2021, SOL emerged in the high-frequency trading and NFT craze with its extreme performance.
In 2025, who will hold this hot baton?
Some say it is $SUI .
This judgment deserves more careful scrutiny.
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ETH: The dawn of the smart contract era (2017)
The rise of Ethereum was not just about a price jump from $8 to $800, but more importantly, it pioneered the new paradigm of 'smart contracts'.
It has shifted cryptocurrency from a single store of value to programmable value, initiating the first wave of experiments in ICOs, DApps, and DeFi.
The value of ETH is built on the dual engines of technological breakthroughs and market consensus.
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SOL: Speed is king (2021)
The story of Solana is another typical case.
Against the backdrop of widespread Layer 1 performance bottlenecks, SOL created a differentiated advantage with high TPS and ultra-low Gas fees.
With strong backing from FTX and explosive growth in DeFi and NFTs on its platform, SOL soared from obscurity to $1, peaking at $260.
The success of SOL is attributed to the simultaneous breakthroughs in technical performance and ecological explosion.
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So, what about SUI? (2025?)
Sui certainly shows some potential explosive factors, but whether it can truly take the baton requires a cooler analysis.
Technical foundation
The Move language, combined with an object-oriented model, offers a more efficient and modular way to handle assets.
Compared to traditional EVM systems, Sui has a natural advantage in transaction parallel processing, making it particularly suitable for DeFi and gaming applications.
Ecological progress
The DeFi, GameFi, and NFT sectors are actively laying out their strategies; although they have not formed an overwhelming network effect, the growth momentum is good.
The ecological reproductive ability is taking shape with some potential, but there is still a gap compared to Solana's early explosive period.
Team and capital
The core team behind Mysten Labs comes from the Facebook Diem project, with a deep technical foundation.
A solid funding background provides ample support for long-term development and market promotion.
Market positioning
Sui chooses to start from 'user experience', attempting to break the high barriers of Web3 applications; this is an innovation in direction.
However, balancing security, decentralization, and usability remains a major challenge.
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Several issues that must be addressed
Sui has great potential, but it is not without concerns:
1. The difficulty of ecological cold start
Without a super strong resource driver like FTX, Sui's ecological expansion speed may be hard to replicate.
2. Fierce competition among public chains
Emerging L1s like Aptos, Sei, and Celestia are also rising rapidly, with market resources and developer attention being divided among many.
3. User habits and migration costs
While technological advantages are certainly important, users often care more about existing assets, sense of security, and ecological stickiness; migration is not an overnight process.
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Conclusion
Every bull market creates new kings.
But a king is never born from thin air; it is the result of an intertwining of technological innovation, capital drive, and user adoption.
Sui possesses the potential conditions.
It resembles Ethereum in 2017 or Solana in 2020, being overlooked by some, but quietly building strength.
However, whether it can truly ignite the next round of the crypto bull market still requires time to validate, ecological growth, and the rekindling of market sentiment.
History does not repeat itself, but it often rhymes.
This time, will you still miss out?
