Journalist
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Important collection restaurants
Why is Sui still in Focus despite lagging L1 colleagues?
SUIG has stacked 101 million Sui over the past 30 days and added 19 million, almost 27 times faster than ETH accumulation.
How does Sui prove his value on-chain?
The network sees 4.5 million daily transactions and 927K daily active addresses, almost 3 × Ethereum’s.
Sky [SUI] Clearly lags behind his L1 colleagues.
Most BIG-CAP L1s are reflected from the Q1-Q2 Bloodbath, driving on a solid Q3, but Sui is still a 40% discount on his Q1 height points. Meanwhile, Ethereum [ETH] has found 100% of his H1 losses with a pump of 60%+ Q3.
Undoubtedly, the Rally of ETH received a boost of institutions, with Bitmine [NASDAQ: BMNR] with 2.4 million ETH. On the sui side, Sui Group Holdings (Nasdaq: Suig) stacked 101 million Sui, a total of 2.8% of the offer.
Source: Coingecko
In short, there is institutional appetite, but Sui still catches up.
Suig reinforced this, on-chain, has had 19 million Sui grip over the past 30 days, while BMNR has only added 702k ETH. That is almost 27 × faster accumulation, which shows that sugge loads at a crazy pace.
In fact, suite is recently purchased 276k shares under his new $ 50 million share purchasing program. Could this be a signal of deeper trust in sui, that, compared to other High-Cap L1s, still seems undervalued?
Sui’s slow and steady routine builds real adoption
A 276k -sharing purchasing shows Suite tries his storage price to SAP.
Q3 has not been nice. Suig falls open 32% compared to its $ 5.37, which shows that the market demand is not real. In this context, the return of $ 50 million is in fact a step to support the smoother and add value for shareholders.
Moreover, it also pumps liquidity in their 101 million sui stack, so that institutional bags remain safe. In the meantime, the daily active addresses of Sui only hit a monthly high point of 927K.
Source: Artemis Terminal
Ethereum’s daa, on the other hand, remains flat at 530k.
On-chain, Sui’s adoption is clearly stack. The network processes 4.5 million daily transactions, almost 3 times those of Ethereum, who show that users actually use sui for real activities in the chain, not alone.
In combination with deeper institutional appetite and the real involvement of the network, Sui’s undervaluation thesis looks stronger and positions it as an important pillar in the web3 transformation.