Sui vs Solana gives us two projects that we expect to do well during the coming bull run. In which projects would you put $1,000?
Look at this picture below, a comparison between Sui vs Solana. For good measure, that’s Solana in 2021, on the left, when it went from $1 to $10 in only one month. On the right is a prediction for Sui in October 2024, going from $1.50 to $4.50. And here’s a similar chart, including Sei to compare 3 projects. That’s before the start of the current bull run, compared to 2021. So, let’s find out where I will put my $1,000 before this bull run takes off. The Sui vs Solana fight is on.
Source: X
So, let’s start by taking a look at both projects. What are they currently up to? Well, in this case, I will start with Sui, since currently they are as hot as they can be. So, compared to Solana, Sui has different tech. It’s a younger chain, hence, its tech is newer.
It starts with their programming language, which is ‘Move’. This came from the time that Sui’s team spent at Meta. They were part of the now-defunct Diem blockchain project. However, they took Move with them and used it to write Sui’s backbone. Aptos is another project that uses the Move language. However, that’s a different version.
On the other hand, Solana uses Rust and Solidity. These are proven programming languages. For example, Solidity is widely used by Ethereum-based projects and EVM. Move uses objects and kiosks to define ownership of assets. Our website article gives a good explanation about this.
Sui also launched an update to its consensus mechanism, Mysticeti. This means almost instant transactions. Their latency is now almost 390 milliseconds. 5A The latest update on Mysticeti is Mahi Mahi, and offers 400,000 TPS.
But Solana isn’t sleeping on this one. They also have a new consensus upgrade in the pipeline. That’s Firedancer. With this upgrade, Solana becomes more decentralized.
Sui thought it was fast with Mysticeti’s and Mahi Mahi’s 400,000 TPS. However, Firedancer could deliver up to 1 million TPS. But, until Firedancer launches, Solana ‘only’ has 65,000 TPS. Both chains are also doing great with enjoying a healthy outflow from Ethereum to Solana and Sui. Both chains together are catching 90% of Ethereum’s bridge outflow.
Source: X
Time to look at the tokenomics of both projects. So, let’s start with Solana ($SOL). The current $SOL price is $168. $SOL has a market cap of $79 billion. However, one big downside is the infinite amount of $SOL. That’s something I’m not a big fan of. Nonetheless, there’s a total supply of 586.5 million $SOL and 469.7 million $SOL circulate.
Each day, Solana pushes 74.86k $SOL on the market. At current rates, that’s around $11 million per day. $SOL is up by 605% over the last year. $SOL is 40% away from its $260 ATH.
Source: Solana compass
The current $SUI price is $1.92 with a $5.3 billion market cap. What I like is that $SUI has a finite supply of 10 billion tokens. However, only 2.7 billion are in circulation. So, that’s not great. $SUI is up by 446% over the last year.
But, Sui still has quite a few token unlocks to come. Each month, Sui unlocks 64.19 million tokens. At the current price, that’s $144 million. $SUI recently set a new ATH of $2.35.
So, both projects don’t have great tokenomics. However, Sui showed an impressive move in the list of projects ranked by market cap. In August, it ranked somewhere between #30 and #40. But during Suitember and October, it moved up to #15. It currently ranks at #18. That’s impressive. Solana is a solid #5.
So, where am I putting my $1,000? We saw that both projects don’t have the best tokenomics. So, how do I go about this and make the right decision?
Well, I look at the growth potential. A good starting point could be some recent CoinGecko research. They found that 64% of participants, in their survey, saw $SOL between $200 and $600. So, if I take $600, that’s a 4x from here. That brings its market cap to $288 billion. That’s not unrealistic.
So, if Sui does a 4x from here, its market cap will be $21 billion. Also realistic, but I can see $SUI doing better than that. It has much more room for growth.
A 5x to 10x is quite possible. Let alone, it does become the Solana from the 2021 bull run. Like many say, it may be. Now we’re really talking. This could easily mean 40x or more.
Solana is the established chain. It has the bigger ecosystem of the two. On the other hand, Sui is the newer kid on the block. We also see how Sui’s ecosystem experiences very strong growth. Check my recent video on Sui ecosystem coins. Sui brings the newer and more exciting tech to the table. The picture below shows Sui’s current ecosystem.
Source: X
It’s not as established as Solana, but it’s growing fast. The newer tech offers extra options for innovation and potential growth. Solana is more like the solid or safer option.
Both chains should see growth during this run. Both will likely beat the market. However, Sui has more room to grow. So, for a chance of reaping better returns. I will put my $1,000 on $SUI. That’s where I see the most potential for growth. Nonetheless, it’s also important that you check your own risk levels.
So, do you agree with my decision?
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
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