The Sui Network (SUI) demonstrated an impressive recovery in May, becoming one of the top 10 altcoins by market capitalization (excluding stablecoins).
While the market capitalization of the SUI ecosystem is still relatively modest compared to other level-1 networks, the network shows signs of unique appeal to users.
Signs of explosive activity on the Sui blockchain in May
According to on-chain analytics from Artemis, since the beginning of the year, the SUI network has been registering over 1 million new wallet addresses daily. These new wallets account for over 80% of the total number of daily active addresses. Data shows that the number of new addresses on SUI began to surge sharply in mid-February. Daily active addresses have also increased, consistently remaining above 1.5 million per day.
In comparison, the BNB Chain has an average of about 1 million daily active addresses. However, BNB's market capitalization is seven times higher than that of SUI.
The growth of SUI goes beyond wallet creation. Data from DefiLlama shows that the daily trading volume on SUI decentralized exchanges (DEX) has consistently exceeded $400 million throughout 2025. Additionally, the market capitalization of stablecoins on SUI has doubled since the beginning of the year. It now exceeds $900 million — the highest level in the network's history.
These metrics reflect a significant increase in user demand within the SUI ecosystem. A recent report from BeInCrypto even revealed that institutional investment flows into SUI have surpassed those of Solana.
Positive news about SUI is not limited to on-chain metrics. They also stem from strategic partnerships. In early May, 21Shares — one of the world's leading providers of cryptocurrency exchange-traded products — announced a partnership with SUI Network to expand the global reach of the ecosystem.
"We believe that Sui has the technical foundations, DeFi ecosystems, and developer support, as well as institutional backing, to play a central role in cryptocurrency for a long time," said Federico Brocate, head of business in the U.S. at 21Shares.
Given these positive signals, some analysts expect the price of SUI to recover to $5 or even higher in the coming months. BeInCrypto's analysis also suggests that the price may rise if a golden cross is confirmed. At the time of writing, SUI is trading around $3.25, having recovered nearly 90% from April's low of $1.73.#BinanceSquare #Write2Earn #Squar2earn #Binance #SUI🔥 $SUI