In April, the SUI protocol attracted $14.7 million in institutional capital, while Solana recorded an outflow of $13.9 million, indicating growing confidence among major players in SUI. The difference in performance between Grayscale’s SUI Trust (+71.8% NAV change) and Solana Trust (no significant NAV change) further highlights the differing market sentiments towards the two assets.
In terms of price, SUI gained 56.6% in April, reaching a rate of about $3.54, while Solana increased by 21% to around $151. Despite the impressive growth of SUI, Solana still dominates in terms of size – its market capitalization is approximately $73 billion.
The appeal of SUI lies in its object-oriented architecture based on the Move language, almost parallel transaction processing, and rapid deployment of DeFi and NFT applications. Solana, on the other hand, has been leveraging innovations in Proof-of-History combined with Proof-of-Stake from the beginning, allowing for the processing of tens of thousands of transactions per second at low fees.
The key question is whether the observed influx of capital into SUI is merely a short-lived trend or a sign of a lasting change in institutional preferences. ETF plans and real implementations will ultimately decide which of the protocols will gain the title of favorite among large investors.
