- SUI outperformed SOL on key fronts.
- Some market commentators believe its growth could derail SOL.
Sui (SUI) seems ready to gnaw Solana (SOL) market share amid massive growth on key fronts.
On October 5, the Layer 1 platform exceeds Solana on the number of transactions. It completed over 58 million transactions, while Solana executed 35 million on the same day.
Source:
SUI’s Aggressive Growth
Reacting to the growth, Adeniyi Abiodun, one of the Sui initiates, said,
“Without transaction failures, without sandwich attacks and with exchanges always sub-second! »
However, SUI has also seen notable growth on other fronts. At press time, it also exceeded Solana’s throughput, reaching 756 transactions per second (tps), while SOL recorded 726 tps.
Source: Sui Vision
Most notable traction was also noted for Ethereum-based outflows and average costs. SUI’s weekly Ethereum outflows totaled $55 million, while SOL lost $69 million during the same period.
When it comes to usage fees, SUI has proven to be a cheaper alternative to Solana. Its average fee was $0.00018, compared to SOL’s $0.0044. In short, SUI checked all the boxes that made Solana a better alternative to Ethereum (ETH).
In a way, some market commentators have viewed its aggressive traction as a threat to the domination of Solana. Some even doubt whether SOL could reach $1,000 amid Sui’s massive growth.
Source: SUI/SOL ratio
Interestingly, the traction was also visible on the price charts. The SUI/SOL ratio, which tracks the relative performance of SUI versus SOL, has been steadily increasing since August.
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It increased by +200%, from 0.003 to 0.013, highlighting the price rally of SUI. At press time, SUI price consolidated below $2 and was on the verge of price discovery.
However, SOL’s TVL (total value locked) has eclipsed that of SUI. SOL increased $5.5 billion in TVL compared to SUI’s $1 billion, highlighting that more investors were still parked in the Solana network.
