SUI是以太坊最大的挑战者

在下一代区块链中，Grayscale Research已将SUI确定为有力的竞争者，这可能会挑战以太坊在智能合同领域的主导地位。

Grayscale Research has highlighted Sui as a strong contender among next-generation blockchains that could challenge Ethereum’s dominance in the smart contract space.

Grayscale Research强调了SUI是下一代区块链中的强大竞争者，这可能会挑战以太坊在智能合同领域的主导地位。

In its latest analysis, the firm notes that Sui is capable of handling high transaction volumes at minimal costs, without the need for additional scaling layers, which sets it apart from Ethereum and its reliance on solutions like rollups.

该公司在其最新分析中指出，SUI能够以最低的成本处理高交易量，而无需额外的扩展层，这使其与以太坊及其依赖诸如汇总的解决方案的依赖。

Despite its relatively small footprint—accounting for just 0.3% of Grayscale’s Smart Contract Platforms Crypto Sector by market cap—Sui is the most well-positioned third-generation blockchain to gradually steal market share from Ethereum over time, according to Grayscale.

据Grayscale称，尽管占地面积相对较小，但占地面积的智能合同平台的0.3％的占地面积占市值的智能合同平台，SUI是位置最合适的第三代区块链，可以随着时间的推移逐渐从以太坊窃取市场份额。

At present, Sui has a fully diluted valuation (FDV) of $25.9 billion, which pales in comparison to Ethereum’s $242.9 billion. However, its rapid adoption is evident, having achieved $830 million in Total Value Locked (TVL) within a year. TVL measures the total value of digital assets locked in smart contracts, serving as an indicator of user and developer engagement.

目前，SUI的估值完全稀释（FDV）为259亿美元，与以太坊的2429亿美元相比，这显得苍白。但是，它的迅速采用显而易见，一年内达到了8.3亿美元的总价值（TVL）。 TVL衡量锁定在智能合约中的数字资产的总价值，是用户和开发人员参与度的指标。

A telling statistic is Sui’s TVL-to-market cap ratio, which comes in at 2.16—one of the highest among competitors. This ratio showcases how much value is actively used on the network versus its overall valuation. A higher ratio signifies stronger utility. In contrast, Ethereum currently holds a TVL-to-market cap ratio of 3.16.

一个有说服力的统计数据是SUI的TVL与市场上限比率，该比率为2.16，是竞争对手中最高的。该比率展示了在网络与其整体估值的积极使用的价值。更高的比例表示更强的效用。相比之下，以太坊目前的TVL与市场上限比为3.16。

With its efficient transaction model and growing adoption, Grayscale suggests that Sui could become a major player, offering a viable competitor to Ethereum as the industry evolves.

借助其有效的交易模型和不断提高的采用，Grayscale认为Sui可以成为主要参与者，随着行业的发展，Sui可以为以太坊提供可行的竞争对手。