- SUI’s recent price rally and DeFi growth are impressive, but Solana maintains a clear lead in institutional inflows and network activity.
- Analysts say SUI still has a long way to go before challenging Solana’s dominance.
SUI has made waves in recent weeks with an impressive price rally and a surge in DeFi activity. But despite the buzz, analysts believe Solana’s dominance in the blockchain space remains firmly intact—for now.
Over the past week, SUI rose 26%, slightly edging out Solana’s 22% gain. Yet, analysts say these short-term moves don’t paint the full picture. Solana continues to lead with a robust $9.38 billion in total value locked (TVL), dwarfing SUI’s $2 billion despite the latter’s 76% month-on-month growth.
Also read: Zuckerberg’s Meta Crypto Leak Hints at Bitcoin Access for 3 Billion Users Worldwide
Institutional capital tells a similar story. Solana has seen $80 million in year-to-date inflows, outpacing SUI’s $72 million, according to CoinShares. The gap widened further in the week ending May 3, with Solana pulling in $6 million while SUI managed just $0.3 million.
“Solana is currently dominating net new capital flows from an L1 perspective,” said Ben Nadraski, CEO of Solstice Labs. He noted that SOL’s high daily transaction count and millions of active addresses give it a clear edge over emerging competitors like SUI.
However, SUI isn’t without its strengths. With unique tech such as the Move programming language and growing institutional backing from players like Franklin Templeton, SUI is steadily building its case. Alvin Kan, COO at Bitget Wallet, highlighted SUI’s scalability and use cases like Bitcoin restaking via SatLayer as key reasons for the increased institutional interest.
The ETF race may also tip in Solana’s favor. The SEC is currently reviewing several applications for a spot SOL ETF, with a decision expected by October. In contrast, no such movement appears imminent for SUI.
From a technical perspective, both assets face resistance ahead—$4.05 for SUI and $180 for SOL. A breakout above these levels could boost momentum, but without sustained institutional support, SUI may struggle to maintain its rally.
SUI’s recent rise is noteworthy, but Solana’s deep DeFi integration and institutional strength make it the frontrunner for now. As the market evolves, SUI could narrow the gap—but calling it a “Solana killer” may be premature.