Solana killer Sui (SUI) rocketing on Graysale Trust's launch and super-bullish report by researchers
SUI, a core native cryptocurrency of the eponymous L1 blockchain, is witnessing an excellent rally. Yesterday, it stopped 20% shy of the all-time high despite the pale performance of major altcoins. A dramatic upsurge can be attributed to interest in SUI-based trust by Grayscale and an optimistic report by analysts.Sui , a mid-cap altcoin and key crypto asset of the eponymous network, added 132% to its capitalization in three weeks.
This announcement comes together with a super-optimisic report by K33 Research, a highly reputable analytics firm in Web3. On Sept. 19, researchers published a statement that SUI was the most dangerous competitor to Solana , a mainstream L1 blockchain with smart contracts. Thanks to parallelization and other tech novelties, Sui managed to accomplish a more impressive TPS than its rivals.
However, its tokenomics, with only 27% of the SUI supply being unlocked, might be an obstacle to the asset in flipping the heavyweights.
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