While popular altcoin Solana is currently seen as the best layer-1 network rivaling Ethereum, analysts claim that another altcoin could replace Solana.
K33 Research Analysis
Accordingly, K33 Research said Sui (SUI) has emerged as a potential rival to Solana. K33 Research analyst David Zimmerman highlighted that Sui has recently surpassed Solana, with the SUI/SOL ratio increasing by 115% since August, compared to SOL’s 6% gain against ETH.
Technological Advantages of Sui
Zimmerman stated that with this success, SUI could rival Solana and replace Solana as an Ethereum rival. Zimmerman said Sui's technology supports a maximum of 297,000 transactions per second, surpassing Solana's 65,000 transaction capacity, demonstrating its powerful capabilities.
Token Supply Issues for Sui
Despite SUI’s successes, Zimmerman noted that there is a significant obstacle affecting SUI’s long-term price action. Stating that this obstacle is token supply, the analyst said, 'Since SUI's token percentage in circulation is very low against Solana, SUI may face significant sales after unlocking operations in the future. Because only 27% of Sui's total token supply is in circulation, while 80% of Solana's total token supply is currently in circulation.'
SUI, which has gained 13.1% in the last 24 hours, continues to trade at $1.36 at the time of writing.
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