- SUI has overtaken Chainlink to become the 10th-largest non-stablecoin crypto, with its market cap now exceeding $11.2 billion.
- Riding a strong price rally, it’s closing in on half of Cardano’s valuation as investor interest surges.
SUI has officially entered the big leagues. On May 6, the Layer-1 blockchain project surged past Chainlink (LINK) in market capitalization, claiming the 10th spot among non-stablecoin crypto assets. Now, SUI is setting its sights even higher—targeting a market value equal to 50% of Cardano’s (ADA) current valuation.
At press time, SUI’s market cap stands at $11.25 billion, edging out Chainlink’s $8.9 billion. This shift in rankings came as SUI’s price rose more than 53% over the past month, currently trading at $3.36. Although it dipped slightly by 0.8% in the last 24 hours, investor enthusiasm remains strong. Its daily trading volume surged past $1.59 billion, significantly outpacing LINK’s $262 million.
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Market observers attribute the flip to SUI’s accelerating adoption and momentum. Crypto analyst Martyparty noted the significance of SUI surpassing LINK and emphasized its growing proximity to Cardano’s market cap, which sits at $23.87 billion. With SUI now valued at over 44% of ADA’s market cap, the “half-Cardano” milestone seems within reach—especially if ADA continues its recent downtrend, having dropped 4% in the last day and 7% over the past week.
Despite its relatively short time in the spotlight, SUI’s consistent gains and strong trading activity suggest it’s no longer a fringe contender. Its rise comes amid a broader altcoin market that remains volatile, making SUI’s resilience stand out.
While Cardano still commands a significant lead, SUI’s sharp trajectory has reshaped mid-cap crypto rankings—and it may not stop here. As investors hunt for high-growth opportunities, SUI’s upward momentum could propel it further up the leaderboard.
Will SUI manage to halve the gap to Cardano? If current trends hold, it’s no longer a matter of “if,” but “when.”