Journalist
Posted:
Main to remember
Why is Su still developed despite the late L1 peers?
SUIG has stacked 101 million sui and added 19 million in the last 30 days, almost 27 × faster than the accumulation of ETH.
How does it prove its value on the chain?
The network sees 4.5 million daily transactions and 927,000 daily active addresses, nearly 3 × Ethereum.
Sui (sui) is clearly lagging behind his peers L1.
Most L1s with large capitalization have rebounded from the bloodbath Q1 – Q2, amounting to a solid Q3, but suis is still a 40% reduction in its first quarter summits. Meanwhile, Ethereum (ETH) recovered 100% of its H1 losses with a 60% pump + Q3.
Without a doubt, the rally of ETH obtained a boost from the institutions, with Bitmine (Nasdaq: BMNR) holding 2.4 million ETH. On the side, Sui Group Holdings (Nasdaq: SUIG) stacked 101 million sui, totaling 2.8% of the offer.
Source: Coingecko
In short, the institutional appetite is there, but followed by catching up.
Reinforcing this in chain, SUIG has been in tears, entering 19 million sui in the last 30 days, while BMNR has added only 702K ETH. It is almost 27 × faster accumulation, showing that SUIG takes care of a crazy rate.
In fact, SUIG recently bought 276,000 shares as part of its new share buy -back program of $ 50 million. Could this be a deeper signal of trust in Suit, which, compared to other L1s with high capitalization, still seems undervalued?
The slow and regular version of suit constructs a real adoption
A 276K share repurchase shows that SUIG tries juice of its stock market course.
Q3 was not nice. SUIG is down 32% compared to its $ 5.37 open, showing that market demand is not really there. In this context, the redemption of $ 50 million is essentially a decision to take care of the float and add value for shareholders.
In addition to that, he also pumps liquidity in their following battery of 101 million, keeping the institutional bags in safety. Meanwhile, the daily active addresses of SU is reaching a monthly summit of 927K.
Source: Terminal artemis
On the other hand, the DAA of Ethereum remains flat at 530k.
In chain, the adoption of SUPs accumulates clearly. The network deals with 4.5 million daily transactions, almost 3 times those of Ethereum, showing that users actually use suit for a real chain activity, not just the maintenance.
Coupled with deeper institutional appetite and authentic commitment on the network chain, the SUP undervaluation thesis seems stronger, positioning it as a key pillar in web3 transformation.
