- Sui Network recorded 2.14 billion transactions in 2024, surpassing major networks such as Tron, Polygon and Ethereum.
- Sui Network is six times faster than Solana and processes 297,000 transactions per second.
Sui Network will emerge as a dominant force in the blockchain space by 2024, surpassing other major networks in terms of transaction volume. According to data from Artemis, Sui Network has processed a whopping 2.14 billion transactions this year.
Sui Network outperforms major blockchains in terms of transaction volume
This amount not only exceeds Tron’s 1.35 billion transactions, but also outperforms Polygon with 901 million, BNB Chain with 882 million, Base with 472 million, and Ethereum with 270 million.
The total transaction volume of Polygon, Arbitrum, Base and Ethereum is still less than that of Sui Network alone, demonstrating their significant growth and adoption.
💧@SuiNetwork has more transactions this year than Polygon, Arbitrum, Base and Ethereum combined. pic.twitter.com/zgJ1ZIyQPN
— ToreroRomero (@Torero_Romero) August 21, 2024
Sui also proved its supremacy in the decentralized exchange (DEX) space, reaching 50 times greater volume than Aptos during the first 365 days of its mainnet debut. This significant difference demonstrates Sui Network’s ability to facilitate high levels of on-chain activity, strengthening its market position.
On the other hand, Arden, a company specializing in gamification loyalty programs and on-chain incentive marketplaces, has collaborated with Sui Network.
According to our prior reportThis relationship leverages the speed and scalability of the network, strengthening Arden’s consumer interaction platform and strengthening the global rewards industry. Arden’s operations would have been more efficient and effective because Sui’s technology had been seamlessly integrated.
Furthermore, an analyst has complimented Sui Network on its excellent performance, noting that this is indeed the case six times faster than Solana. The network is said to be highly scalable and capable of processing 297,000 transactions per second, significantly exceeding Solana’s throughput.
At the time of writing, the network’s native token is, SUIis now trading around $0.8631. It’s over 1.08% over the past 24 hours, with a daily trading volume of $127.61 million.