SUI's counter-trend surge: Value awakening under the resonance of technology, ecology, and capital.
On April 25, 2025, the SUI token surged 54% over three days, breaking $3.39, with total contract positions soaring to $1.1 billion, becoming the only project among the top 20 tokens by market value to break historical resistance levels against the trend.
Core data comparison (as of April 25):
TVL Growth: The total locked value (TVL) of the Sui network has reached $1.46 billion, with a weekly increase of 10%, far exceeding Solana's (+3.2%) and Avalanche's (-1.8%) during the same period.
Stablecoin Proportion: The on-chain stablecoin market value has surpassed $880 million, with USDC holding a 71% market share, and liquidity depth improving by 200% compared to three months ago.
DEX Explosiveness: Daily DEX trading volume surpassed $620 million, and weekly DEX trading volume reached $2.77 billion, which is 8 times higher than the market average, with meme coins contributing over 60% of trading volume.
Behind this 'divergent growth' is the new ecological paradigm constructed by Sui – completing a closed-loop breakthrough from basic protocol to application ecology through a threefold engine of technology stack reconstruction, capital resonance, and community fragmentation.
Technological Revolution: The operating system-level architecture of the public chain 3.0 era.
Sui's technical architecture is not a linear upgrade of traditional public chains, but a reconstruction of blockchain architecture based on the concept of 'full-end operating systems':
1. Paradigm leap of consensus mechanisms.
Mysticeti V2 Engine: Using a DAG (Directed Acyclic Graph) structure, it compresses the confirmation time for shared object transactions to 0.25 seconds, with a measured TPS exceeding 120,000. This makes Sui the first public chain supporting high-frequency quantitative trading, with DeepBook's order book slippage reduced by 40% compared to Uniswap V4.
Remora Sharding Mechanism: By splitting the tasks of validation nodes into three major modules: computation, storage, and verification, it achieves linear scalability. In the test network environment, each additional node cluster can increase TPS by 43,000.
2. Disruptive breakthroughs in storage layers.
Walrus Decentralized Network: As the first programmable storage sidechain, it uses erasure coding technology to reduce storage costs to 10% of traditional solutions. In the first month of the mainnet launch, it carried 200TB of AI training datasets, providing infrastructure for computational projects like Render Network.
SEAL Dynamic Encryption Protocol: Achieving NFT content tiered authorization, Warner Music has issued dynamic music NFTs based on this technology, with playback exceeding 120 million times.
3. Generational leap in developer experience.
Move Prover Smart Verification: Reduces the contract vulnerability rate to 0.3% through formal verification, improving security by 5 times compared to Solidity.
RPC 2.0 Response System: The GraphQL-based query system compresses data call latency to within 50ms, combined with the Bugdar AI auditing tool, improving development efficiency by 3 times.
This technical architecture allows Sui to break free from the 'performance-decentralization' binary paradox. According to Artemis data, its active validation nodes reach 297, far exceeding Solana's 183, truly achieving the dual goals of high performance and decentralization.
Ecological explosion: The flywheel effect of multi-track collaboration.
The Sui ecosystem has formed a complete matrix of 'infrastructure - intermediary software - application layer,' with various tracks showing a collaborative explosive state:
1. Institutional transformation of DeFi.
Cetus Protocol: A liquidity aggregation protocol deeply integrates DeepBook, stabilizing million-dollar trading slippage within 0.3%, attracting top market makers like Jump Crypto to settle in, and the platform token CETUS has seen a monthly increase of 180%.
Scallop Cross-Chain Hub: Supports seamless asset flow across 20 chains through modular design, with its 'yield layering' mechanism allowing stablecoin deposit APY to reach 15%, and TVL exceeding $500 million.
Momentum Stablecoin Platform: Algorithmic stablecoins and over-collateralized mixed mechanisms achieve an average daily trading volume of $120 million, becoming the cornerstone of Sui DeFi liquidity.
2. Meme + AI's traffic singularity.
LOFI/BLUB Phenomenon: The two major meme coins saw daily increases of 124% and 100%, driving on-chain active addresses to exceed 1.7 million. Their success stems from Sui's unique gas fee subsidy mechanism, stabilizing small transaction costs at $0.01.
RockeeAI: A DeFi protocol integrating natural language processing, enabling 'voice command trading' functionality, with social media sentiment analysis modules covering over 2000 communities, achieving a prediction accuracy rate of 78%.
Zeromorph perpetual contracts: AI Agent SDK supports users in training personalized strategies, with the 'risk hedging engine' reducing liquidation rates to one-third of the industry average.
3. Ecological expansion through hardware breakthrough.
SuiPlay0X1 gaming handheld: Deep integration of hardware and chain gaming ecology, with 62% of 700,000 pre-sale orders coming from traditional gamers. This device supports seamless acquisition of NFT equipment, driving a 300% surge in Sui gaming DApps.
Sui Frens Dynamic NFT: Real-time interaction of NFT attributes through genetic mutation algorithms, with the floor price of rare items exceeding 420 SUI, and minting volume increasing by 470% week-on-week.
This multi-dimensional explosion forms an ecological flywheel: Technological advantages attract developers → Rich applications enhance user retention → Capital inflow strengthens liquidity → Feeding back into technological iteration.
Capital resonance: Traditional forces entering the market to reconstruct valuation logic.
The essence of Sui's value reassessment is the mainstream capital's repricing of Web3 infrastructure:
1. The trilogy of institutional entry.
ETF Breakthrough: Canary Capital submitted the first SUI ETF application, with VanEck predicting that approval will bring in $3.5 billion in incremental funds.
RWA Layout: Co-building a tokenization platform with Franklin Templeton, managing $1.5 trillion in traditional assets on-chain.
Compliance Breakthrough: Obtained VARA license in Dubai, becoming the first compliant public chain in the Middle East, with the Abu Dhabi sovereign fund having allocated $230 million.
2. Structural qualitative change in liquidity.
Stablecoin leverage: USDC issuance increased by 7.77% weekly, and institutions achieved cross-chain arbitrage through the CCTP protocol, with an average daily arbitrage scale exceeding $80 million.
Sui's total contract positions have surpassed $1.1 billion.
Contract position fluctuations: Coinglass data shows that the open interest for call options with an exercise price of $3.5 increased by 320% weekly, with the market betting on a breakthrough past $4 in May.
3. Disruption of the valuation model.
Traditional public chain valuations often use Metcalfe's Law (Value ∝ Number of Users²), while Sui's full-end capabilities give rise to the 'Metcalfe-Ziv Composite Model':
Valuation = Number of Developers × (Number of DApps + TVL) ^ 1.5
According to this model, Sui's current valuation should reach $20 billion, which has an 80% upside potential compared to the current price.
This expectation is supported by on-chain data: Currently, SUI adds 17 new DApps on-chain daily, which is 2.3 times that of Solana, and the ecological network effect has entered an exponential growth phase.
Conclusion: The second half of public chain competition has begun.
The rise of SUI marks the entry of blockchain competition into the 'full-end capability' era. While other public chains are still entangled in TPS figures, Sui has quietly completed a three-dimensional layout from protocol layer to application layer, from online ecology to offline hardware. Its triple resonance of technological depth, capital thickness, and ecological breadth is rewriting the foundational rules of Web3.
The essence of this value reconstruction is the evolution of blockchain from a 'financial experimental field' to a 'digital economy operating system.' When SUI Play0X1 handheld devices begin to appear in the hands of subway passengers, and when Warner Music fans go crazy for dynamic NFTs, we may be witnessing the true 'moment of breakout' for blockchain technology. This feast may just be getting started.
