Sui Network (SUI) Has a Higher Stablecoin Market Cap Than Five of Its Competitors Combined

Sui Network (SUI) has seen a remarkable growth, featuring as one of the best blockchain performers in the cryptocurrency market. Deemed the

Sui Network (SUI) has continued to show remarkable growth, featuring as one of the best blockchain performers in the cryptocurrency market.

Sui Network (SUI) has continued to show remarkable growth, featuring as one of the best blockchain performers in the cryptocurrency market.

Now, the chain, which has also been deemed the next Solana (SOL) or the Solana-killer, has a higher stablecoin market cap than five of its competitors combined, including Cardano (ADA), which was once called the Ethereum (ETH)-killer.

According to ToreroRomero’s post, “Sui has a larger stablecoin market cap than Fantom, zkSync, Algorand, Scroll, and Cardano combined.” The post, dated March 17, highlights that Sui’s stablecoin market cap stands at $638 million.

This surpasses Fantom’s $323 million, zkSync’s $134 million, Algorand’s $119 million, Scroll’s $25 million, and Cardano’s $24 million when adding them up.

This milestone showcases the rapid growth of Sui in the blockchain sector.

Why does a large stablecoin market cap for Sui matter?

The network’s stablecoin dominance signals increasing adoption and utility, as these tokens are the most liquid on-ramps to crypto.

The network’s stablecoin dominance signals increasing adoption and utility, as these tokens are the most liquid on-ramps to crypto.

Thus, it hints at investors now seeing Sui as a formidable player, especially when comparing it to established networks like Cardano.

Moreover, a growing stablecoin market cap can also benefit Sui’s ecosystem, with potential capital rotation between projects, increasing their value. The network’s base token, SUI, is another asset highly favored by this inflow, with an expected price surge following it.

SUI price and fundamental analysis

Nevertheless, the price of SUI is currently at $2.28, showing a 46.25% year-to-date decrease after massive unlocks amid an overall bear market.

Finbold has been monitoring and reporting on the cliff unlocks of the blockchain network according to data from Tokenomist. For instance, December 1 saw the largest unlock in U.S. dollar value of 2024, unlocking $224 million of 64.19 million tokens. January 2025 had an even larger nominal value unlock for the same amount, valued at $274 million, as we reported.

On a cautionary note, it's important to highlight that Sui has unique tokenomics, which permit Mysten Labs and Series A/B investors to stake their locked tokens. These positions generate asymmetric liquid rewards in relation to other staking investors, enabling these entities to sell these rewards or compound their staking positions over time.

Yet, with a market cap of $7.23 billion and a fully diluted valuation (FDV) of $23 billion, the network is still in a good position when compared to some of the mentioned competitors and more.

Yet, with a market cap of $7.23 billion and a fully diluted valuation (FDV) of $23 billion, the network is still in a good position when compared to some of the mentioned competitors and more.

Fundamentally, Sui leverages its object-oriented design and Move programming language. This enhances scalability and security, attracting developers and users.

What analysts say about SUI amid stablecoin growth

Crypto analyst XBT_agent noted on March 17, that the ecosystem shows strength, with volume spiking and potential breakouts.

Crypto analyst XBT_agent noted on March 17, that the ecosystem shows strength, with volume spiking and potential breakouts.

"Tracking potential breakout zones. Sui ecosystem looking strong - watching liquidity flows and key project developments closely," the analyst stated.

This achievement boosts investor confidence as they assess the best performing chains in 2024.

TehMoonwalkeR’s post on the same day claims that Sui could be "the Solana of this run," citing its youth and growth. "SUI is not even a few years old and already has a larger stablecoin market cap than FANTOM, ZkSync, ATOM, and ADA combined. Now that's impressive!" he said.

Even in this conext, however, price predictions vary. Changelly forecasts Sui reaching $2.42–$2.83 in 2025, while InvestingHaven projects $3.33–$8.75.

This development aligns with a broader trend. CoinGecko reports the total stablecoin market cap exceeds $236 billion, indicating a robust bull cycle, despite recent bearish sentiment.

Moreover, in a broader context, we can observe that the majority of crypto traders are focusing on Bitcoin (BTC) and altcoins, potentially neglecting the significance of stablecoins.

However, in the realm of blockchain technology, stablecoins serve as a fundamental pillar, acting as a seamless bridge between the conventional financial system and the decentralized ecosystem.

This role is becoming increasingly crucial as institutions and high-net-worth individuals are venturing into the cryptocurrency domain.

As such, with its substantial stablecoin market cap, Sui is showcasing its capability to attract a significant influx of capital, ultimately enhancing the value of the network's base token, SUI.

Finally, with a rapidly expanding user base and a promising ecosystem, it seems that the potential for the blockchain network is steadily increasing