Reflections on the Resurgence of SUI: Don't Obsess Over Buying Back, SEI May Hold New Opportunities

SUI has recently been trending again, and the underlying logic is easy to understand: when the market corrects, many investors' first reaction is to check whether SUI has also corrected, hoping to seize the opportunity to buy back in.

However, a rational approach is crucial: if you missed out on SUI's previous rally, don't be overly obsessed with buying back in. SUI has seen significant gains since its bottom, and comparing its fundamentals and market capitalization structure reveals that $SEI's current value-for-money ratio is also worth considering.

1. Market Cap and Unlocking Pressure: $SEI Offers Greater Flexibility

• $SUI: The current circulating market capitalization is $12.2 billion, but only 35% of the total supply remains in circulation. This means there's still a significant amount of tokens to be unlocked, creating the potential for subsequent selling pressure and potentially suppressing prices.

• $SEI: The circulating market capitalization is only $1.9 billion, but the total supply exceeds 60%. This combination of a low market capitalization and low unlocking pressure means the market is more susceptible to capital movement and offers greater short-term volatility.

2. Positioning and Narrative: $SEI Focuses More on the Pain Points of Hype

• $SUI: As a high-performance general-purpose chain, it focuses on low latency and high throughput. Initially, it relied on major investors to promote its narrative. It has now entered the "self-development phase" of its ecosystem. Future growth depends more on the actual implementation of ecosystem projects and user growth, resulting in a longer cycle and greater uncertainty.

• $SEI: A dedicated Layer 1 platform based on Cosmos, it is positioned as "transaction-friendly" and focuses on vertical sectors such as gaming assets, NFTs, and social asset exchange. While its narrative scope is narrow, this vertical focus reduces market understanding, makes it easier to develop a clear hype logic, and attracts more short-term investment.

3. From the perspective of major investors: $SEI is more capital-efficient

From the perspective of major investors, if they have already achieved profitability in SUI, they are more likely to shift their chips and profits to SEI. Doubling SUI's $12.2 billion market cap would require a massive amount of capital and be extremely inefficient. SEI, with a $1.9 billion market cap, can achieve significant growth with relatively little capital, which is more in line with short-term profit-seeking needs.

In summary, rather than obsessively "buy back" SUI, it's better to turn your attention to SEI. SUI has passed its period of rapid growth, driven by aggressive market mobilization, and has entered a period of stable development. SEI, with its small market capitalization, low selling pressure, and clear narrative, may be poised for a new starting point that's more conducive to unleashing imagination.$BTC $ETH #杰克逊霍尔会议