SUI Network outpaces Solana in DEX volume

-

SUI Network is making a big surprise in the crypto industry by surpassing Solana in DEX trading volume, with $7.5 billion in transactions.

SUI’s growth looks crazy

When we look at DEX trading volumes, SUI is clearly on a roll. Over a 550-day period, with data collected every 50 days, SUI’s trading volume hit $25.4 billion, while Solana managed $17.9 billion.

SUI Network
Source: X

Both networks have seen increased user activity, but SUI’s growth really took off around day 300, meaning it might be gaining traction and could outpace Solana in trading activity.

What’s driving this surge? A big part of it is SUI’s recent advancements. They launched the Mysticeti consensus engine, which significantly boosts transaction capacity, and they’ve teamed up with Google Cloud for more scalable and secure application deployment. Talk about leveling up!

Price and DEX growth correlate?

SUI’s price performance mirrors its DEX success. Currently trading around $2.30, SUI has seen a gain of 82.80% over the past few months.

In comparison, Solana’s price grew by 35.64% during the same timeframe, showing that SUI is capturing more investor interest and market momentum.

Moreover, SUI’s trading volume also spiked recently, hinting at increased activity and buying interest among traders.

Don’t stop now

Looking at some technical indicators, SUI’s RSI is currently at 61.61, suggesting strong buying momentum but still leaving room for further upside before hitting the overbought territory.

Source: TradingView

The On-Balance Volume also shows a steady upside trend, a solid accumulation by investors.

This positive price momentum aligns pretty well with SUI’s growing DEX volume, signaling increasing utility and investor confidence, and this two typically lead to price appreciation.

Overall, SUI’s rally driven by its dominance in DEX trading suggests a quite bright future with more sweet gains.

Have you read it yet? Post-Election Rally Sparks Surge—Is This Just the Beginning for Ethereum (ETH), Solana (SOL), and Monero (XMR)?

LATEST POSTS

The OM token crash is so messy it needs a real investigation

This is a next level sh*t. You’ve seen rug pulls, you’ve seen pump-and-dumps, but the OM token crash? Epic. If you think a few blockchain...

Unichain just surpassed $322 million TVL

Unichain isn’t just some quiet corner of DeFi anymore. No, sir. This Layer-2 network from Uniswap just blew past $322 million in total value locked...

PumpSwap reached the $3.45 billion milestone

You wake up, pour yourself a cup of coffee, open your newsfeed, and suddenly, PumpSwap just dropped a $3.45 billion bombshell on the dex sector....

MEXC just launched the $30 million IgniteX project

You ever hear about a little thing called IgniteX? No? It’s new. MEXC Ventures just dropped $30 million on the table, and they ain’t playing...

Most Popular

Guest posts