Written by: Lawrence, Mars Finance
SUI rushes against the trend: Awakening of value under the resonance of technology, ecology and capital
On April 25, 2025, SUI tokens broke through $3.39 with a staggering three-day 54% increase, and the total contract holdings surged to $1.1 billion, becoming the only project among the top 20 tokens with market value to break through the historical pressure level against the trend.
Core data comparison (as of April 25):
TVL Growth: Sui's total network locked value (TVL) reached US$1.46 billion, a weekly increase of 10%, far exceeding the same period of Solana (+3.2%) and Avalanche (-1.8%)
The proportion of stablecoins: The market value of on-chain stablecoins exceeded US$880 million, USDC accounted for 71%, and the liquidity depth increased by 200% compared with three months ago
DEX explosive power: The single-day DEX trading volume exceeded US$620 million, and the single-week DEX trading volume was US$2.77 billion, 8 times higher than the market average, of which Meme coins contributed more than 60% of the trading volume.
Behind this "difference growth" is the new ecological paradigm constructed by Sui - through the triple engine of technology stack reconstruction, capital resonance and community fission, a closed-loop breakthrough from the underlying protocol to the application ecosystem has been completed.
Science and Technology Revolution: Operating System Hierarchy Architecture in the Public Chain 3.0 Era
Sui's technical architecture is by no means a linear upgrade of traditional public chains, but reconstructs the blockchain architecture based on the concept of "full-end operating system":
1. Paradigm leap in consensus mechanism
Mysticeti V2 engine: adopts a DAG (directed acyclic graph) structure to compress the confirmation time of shared objects transactions to 0.25 seconds, and the actual TPS exceeded 120,000. This makes Sui the first public chain to support high-frequency quantitative transactions, with the slippage of DeepBook order book reduced by 40% compared to Uniswap V4.
Remora sharding mechanism: By splitting the verification node task into three major modules: computing, storage, and verification, it can achieve linear expansion capabilities. In the test network environment, every additional cluster of nodes can increase TPS by 43,000
2. A disruptive breakthrough in storage
Walrus Decentralized Network: As the first programmable storage side chain, the erasure coding technology is used to reduce storage costs to 10% of traditional solutions. The main network will carry 200TB of AI training data set in the first month of online launch, providing infrastructure for computing projects such as Render Network.
SEAL Dynamic Crypto protocol: implements NFT content hierarchical authorization. Warner Music has released dynamic music NFT based on this technology, with the number of views exceeding 120 million times.
3. Generational leap in the developer experience
Move Prover Smart Verification: Reduce the contract vulnerability rate to 0.3% through formal proof, 5 times more security than Solidity
RPC 2.0 response system: GraphQL-based query system compresses data call delay to within 50ms, and improves development efficiency by 3 times with Bugdar AI auditing tools.
This technical architecture frees Sui from the binary paradox of "performance-decentralization". Artemis data shows that it has 297 active verification nodes, far exceeding Solana's 183, truly achieving both high performance and decentralization.
Ecological explosion: multi-track synergistic flywheel effect
The Sui ecosystem has formed a complete matrix of "infrastructure-intermediary software-application layer", and each track shows a coordinated explosion trend:
1. The Institutional Transformation of DeFi
Cetus Protocol: Deeply integrated with DeepBook, achieving a million-dollar trading slippage of trading within 0.3%, attracting top market makers such as Jump Crypto to settle in, and the platform token CETUS has a monthly increase of 180%.
Scallop Cross-chain Hub: Supports seamless flow of 20 chain assets through modular design, and its "revenue stratification" mechanism enables stablecoin deposit APY to reach 15%, and TVL exceeds US$500 million
Momentum Stablecoin Platform: Algorithm stablecoins and over-collateralized hybrid mechanism have a daily average trading volume of US$120 million, becoming the cornerstone of Sui DeFi liquidity
2. Meme+AI's traffic singularity
LOFI/BLUB phenomenon: The daily increase of the two major Meme coins reached 124% and 100% respectively, driving the active addresses on the chain to exceed 1.7 million. Its success stems from Sui's unique Gas fee subsidy mechanism, which stabilizes the small transaction cost at $0.01
RockeeAI: Integrates DeFi protocols for natural language processing to realize the "voice command transaction" function, the social media sentiment analysis module covers 2,000+ communities, and the prediction accuracy is 78%.
Zeromorph Perpetual Contract: AI Agent SDK supports users to train personalized strategies, and the "risk hedging engine" reduces the liquidation rate to the industry average of 1/3
3. The ecological expansion of hardware breaking circles
SuiPlay0X1 game handheld console: the hardware and chain game ecosystem are deeply integrated, and 62% of the pre-sale orders come from traditional gamers. This device supports the invisible acquisition of NFT equipment, driving the number of Sui game DApps to surge by 300%7
Sui Frens Dynamic NFT: Real-time interaction of NFT attributes through gene mutation algorithm, rare floor price breaks through 420 SUICasting volume increased by 470% on a week-on-month basis
This multi-dimensional explosion forms an ecological flywheel: technology advantages attract developers → enrich applications to improve user retention → capital inflows to strengthen liquidity → feed back to technology iterative capital resonance: traditional forces enter the market to reconstruct the valuation logic
The essence of Sui’s revaluation is mainstream capital’s repricing of Web3 infrastructure:
1. Institutional Admission Trilogy
ETF breaks the ice: Canary Capital submits its first SUI ETF application, VanEck predicts that it will bring US$3.5 billion in incremental funds after approval
RWA layout: Co-build a tokenization platform with Franklin Tanburton to manage 1.5 trillion US dollars of traditional assets to be chained
Compliance breakthrough: Obtained a VARA license in Dubai, becoming the first compliant public chain in the Middle East. Abu Dhabi Sovereign Fund has allocated US$230 million
2. The fluid structure changes
Stablecoin leverage: USDC issuance volume increased by 7.77% weekly, institutions achieved cross-chain arbitrage through the CCTP protocol, with an average daily arbitrage scale of more than US$80 million
sui contract holdings across the network exceeded US$1.1 billion
Contract position changes: Coinglass data shows that the call position at the $3.5 exercise price increased by 320% weekly, and the market bets exceeded $4 in May
3. The disruption of the valuation model
Traditional public chain valuation mostly uses Metcalfe's law (value ∝ number of users²), and Sui's full-term capabilities give birth to the "Metcalfe-Ziff composite model":
Evaluation = Number of developers × (Number of DApps + TVL)^1.5
According to this model, Sui's current valuation should reach US$20 billion, with 80% upside than the current price.
This expectation is supported by on-chain data: Currently, 17 new DApps are added on the SUI chain every day, 2.3 times that of Solana, and the ecological network effect has entered an exponential growth stage.
Conclusion: The second half of the public chain competition begins
The rise of SUI marks the entry of blockchain competition into the era of "full-end capabilities". While other public chains are still fighting on TPS numbers, Sui has quietly completed the three-dimensional layout from the protocol layer to the application layer, from online ecology to offline hardware. Through the triple resonance of technological depth, capital thickness and ecological breadth, it is rewriting the basic rules of Web3.
The essence of this value reconstruction is the evolution of blockchain from a "financial experimental field" to a "digital economic operating system". When the SUI Play0X1 handheld machine began to appear in the hands of subway passengers, and when Warner Music fans were crazy about dynamic NFTs, we might be witnessing the true "moment of the circle" of blockchain technology. This feast may have just begun.
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〈SUI soared 54% in three days! DeFi Crazy + Capital Crazy, $4 is just the starting point
