SUI has been outperforming Solana in price for some months now. From August until now, the price of SUI has experienced close to a 700% spike.
SUI has outperformed Solana (SOL) in terms of price appreciation over the past few months, surging by nearly 700% since August compared to SOL's 120% gain during the same period.
Now, let's take a closer look at some key metrics to see how SUI stacks up against Solana (SOL) at a comparable stage in early 2021.
Cryptocurrency metrics platform Token Terminal shows that SUI has a fully diluted valuation of $10 billion at the time of writing, significantly higher than SOL's $2.3 billion at a comparable stage.
Moreover, SUI boasts a Total Value Locked (TVL) of $1.6 billion, substantially greater than SOL's $150 million at the time.
Interestingly, SOL's price appreciation in early 2021 occurred during a period of declining Bitcoin (BTC) dominance. In contrast, SUI's price rally is unfolding amidst rising BTC dominance.
As Bitcoin (BTC) dominance rose by 5% in 2023, SUI price surged from $1 to $3.90. If BTC dominance were to reverse course and decline, SUI price could potentially be poised for further upside.
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