Grayscale, a major player in the digital asset world, believes Sui (SUI) is the altcoin most likely to take market share from Ethereum. Their recent report highlights Sui’s impressive capabilities.
Sui’s Strengths: Speed and Low Costs
Grayscale’s research points to Sui’s high transaction throughput and low costs. Unlike Ethereum, which relies on scaling solutions, Sui achieves this speed and efficiency on its own. This makes it a compelling alternative for developers and users.
Sui’s Market Position: A Small but Mighty Challenger
Currently, Sui holds a tiny fraction (0.3%) of the smart contract platform market. However, Grayscale is optimistic about its future. They see Sui as a strong contender to eventually challenge Ethereum’s dominance.
Impressive Growth Despite Small Market Cap
Despite its relatively small market capitalization of around $1.8 billion (as of July 31, 2024), Sui boasts a significant $830 million in Total Value Locked (TVL). TVL represents the dollar value of digital assets used within the network’s smart contracts. This gives Sui a high TVL/market cap ratio, suggesting it might be undervalued compared to its competitors, including Ethereum.
A Look at the Numbers
- Sui Fully Diluted Valuation (FDV): $25.9 billion
- Ethereum Market Cap: $242.9 billion
- Sui TVL/Market Cap Ratio: 2.16 (second highest among peers)
- Ethereum TVL/Market Cap Ratio: 3.16
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in any cryptocurrency./p>
