Sui (SUI) Circulating Market Cap Soars 1536% to $1222B in Q4 2024, Outperforming the Crypto Market by 90%

Sui's circulating market cap experienced a staggering 153.6% increase in Q4 2024, climbing to $12.22 billion. This surge significantly outperformed the broader crypto market

Key Takeaways:

* Sui’s circulating market cap soared 153.6% in Q4 2024 to reach $12.22 billion, significantly outperforming the broader crypto market’s 52.8% gain.

* The introduction of native USDC on the blockchain, the launch of VanEck’s Sui ETN, and a partnership with Franklin Templeton Digital Assets drove adoption.

* Phantom integration also boosted liquidity and accessibility, aiding in a six-position ascent in market cap rankings to become the 15th-largest cryptocurrency.

* The token reached an all-time high of $4.93 on December 16, marking a 428.2% annual price increase. Its circulating market cap also skyrocketed by 1,410.1% over the past year.

* Network fees reached an all-time high of $5.4 million (1.8M tokens), showcasing a 613.6% quarter-over-quarter surge and a 1,063.8% year-over-year increase.

* DeFi growth, rising token price, and native USDC adoption fueled the surge in network fees. While USD fees rose, SUI-denominated fees jumped 127.9% as transaction volume soared.

* Despite heightened transaction volume, the network kept average transaction fees at 0.0024 SUI (about $0.0069), rendering the network cost-effective for large-scale DeFi operations.

* The network continued to support sponsored transactions, with 6.3% of transactions covered by dApps or third parties for user-friendly experiences.

* SUI’s staking ecosystem remained robust, with 78.6% of the eligible supply staked by the end of Q4 2024. However, the staking rate showed a slight 0.30% decline quarter-over-quarter.

* SUI unlocked 248M tokens ($1.02B) in Q4 2024 across community reserves, teams, investors, and staking rewards. Despite this, its total supply remains at 10B, with staking rewards decreasing every three months.

* The network’s real yield stood at -0.24%, while its growing DeFi ecosystem and high throughput are positioning it well for sustained growth in 2025.