Potentially unleashed $265M in SUI coming up next week – will the 61% upward trend sustain?
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Scheduled for this week is a massive $265 million unlock of the SUI token, which could potentially cause selling pressure. On May 1st, around 74 million SUI tokens, equating to 2.28% of the total supply, will be up for grabs, as per Tokenomist's data. With the demand heating up, this fresh supply could add to the ongoing selling pressure. So far, only 33% of the total SUI supply has been unlocked.
Meanwhile, the on-chain fundamentals of Sui have been strengthening. The total value locked in Sui-based protocols surged by 40% since the start of April, now standing at a whopping $1.73 billion, according to DeFiLlama's data. Additionally, the stablecoin market cap on the network increased from $630 million to $880 million over the same period, while daily decentralized exchange volume has been averaging around $500 million. In the last 7 days, the network has processed over $3.6 billion in trading, bringing the monthly volume above $11 billion. With fresh supply about to hit the market, traders might consider taking profits after last week's gains. However, some believe that the growing DeFi metrics indicate that Sui can absorb the new tokens without experiencing a downturn.
The cryptocurrencies, SUI and SEI, are both emerging Layer 1 blockchains vying for dominance in the 2025 bull market. Here's a quick comparison of their main features and market outlooks:
SUI- Development: Developed by Mysten Labs, a team including ex-Meta Diem project developers, SUI utilizes the Move programming language, highlighting security and reducing vulnerabilities. It boasts high transaction processing with minimal latency, making it suitable for NFTs, gaming, and DeFi applications.- Performance: With a price of around $3.62, SUI has seen growth in active addresses and DeFi volumes, experiencing significant institutional interest due to potential ETFs. Its total market cap is approximately $1.5 billion.- Tokenomics: The total supply of SUI is 10 billion, with about 3.2 billion in circulation.
SEI- Development: SEI is the first Layer 1 blockchain built specifically for trading, utilizing the Cosmos SDK. It offers a native order matching engine and sub-second finality, catering to DeFi, GameFi, and real-world assets.- Performance: SEI's price is approximately $0.20, with an all-time high of $1.14, and a market cap around $1.7 billion - slightly higher than SUI's. SEI focuses on scalability, providing low-cost transactions and quick processing times, appealing to businesses and major developers alike.- Tokenomics: SEI also has a total supply of 10 billion tokens, but with about 5.1 billion in circulation.
As for which of these two will dominate the 2025 bull market, it all depends on the specific use cases:
- SUI might take the lead if there's increased demand for secure, high-performance applications in DeFi, gaming, and NFTs, especially if institutional interest grows with potential ETFs.
- SEI could dominate if the emphasis shifts towards high scalability and fast trading capabilities, leveraging its optimized architecture for decentralized trading and finance.
Ultimately, the cryptocurrency that will dominate in 2025 will depend on the market trends and investor preferences towards these specific functionalities.
Also, lately, Bitcoin has dipped below $94,000, while ETFs have witnessed a $3 billion weekly inflow, suggesting a shift in investor preferences towards these digital assets.
- As per Tokenomist's data, on May 1st, about 74 million SUI tokens will unlock, adding to the ongoing selling pressure.
- The total value locked in Sui-based protocols surged by 40% since the start of April, highlighting the network's growing DeFi potential.
- The stablecoin market cap on the Sui network increased from $630 million to $880 million over the same period.
- The cryptocurrency, SUI, developed by Mysten Labs, is an emerging Layer 1 blockchain vying for dominance in the 2025 bull market, utilizing the Move programming language for security and reducing vulnerabilities.
- In finance, just like SUI, SEI is another emerging Layer 1 blockchain, built specifically for trading and offering a native order matching engine for fast trading capabilities.
- Bitcoin has experienced a dip below $94,000, indicating a potential shift in investor preferences towards other digital assets.
- Since the start of April, the daily decentralized exchange volume on the Sui network has been averaging around $500 million, suggesting a growing interest in crypto trading and finance technology.
