SUI Gains 54% in Four Weeks, Outpacing Bitcoin and Ether

SUI surges while Bitcoin and Ethereum lag

The token of the Sui blockchain, called SUI, rose about 54% over four weeks ending Oct. 10, far outperforming Bitcoin and Ether. Bitcoin climbed 7.3% over the same stretch, while Ether fell 0.8%, according to CoinGecko data compiled by The Defiant.

SUI traded near $1.11 on the evening of Oct. 10, up from roughly $0.72 on Sept. 12. The rally has not been smooth: the token peaked near $1.27 on Sept. 27, pulled back to about $1.03 by Oct. 8, and then recovered. Its most recent seven-day change was a decline of about 5.2%.

Key market numbers

• SUI price: $1.11 on Oct. 10, up from $0.7218 on Sept. 12, a gain of about 54%
• Bitcoin gain over the same period: 7.3%
• Ether change: -0.8%
• DeFi total value locked on Sui: $458.2 million to $529.1 million, up about 15.5%
• Dollar-pegged stablecoins on the network: $473.5 million to $500.9 million, up about 5.8%
• SUI daily DEX trading volume: $114.8 million on Sept. 21, falling to $34.4 million by Oct. 9
• Recent 24-hour price change: +3.8%

What the on-chain data show

Total value locked, or TVL, measures the dollar amount of assets deposited in decentralized finance protocols on a network. Rising token prices can lift TVL even without new deposits, which means the 15.5% increase in Sui's DeFi TVL does not prove that fresh money drove the price rally. Stablecoin supply on the network grew even more slowly, at about 5.8%.

Trading activity also cooled significantly from September. Daily decentralized exchange volume on Sui dropped from $114.8 million on Sept. 21 to $34.4 million on Oct. 9, suggesting the earlier price surge was accompanied by heavier trading that has since faded.

Samsung Wallet partnership adds context

During the four-week period, Samsung announced it would add support for USDC, a dollar-pegged stablecoin, on the Sui network in late October. The Sui Foundation stated that Samsung Wallet will not support SUI at launch and that users will not need to hold the SUI token to send USDC. The move expands access to the network's stablecoin infrastructure rather than directly increasing demand for the token.

What remains unclear

The sources do not identify a single cause for SUI's price increase. The rally coincided with growth in DeFi liquidity and stablecoin usage, but those metrics rose more slowly than the token price. The sources explicitly note that the liquidity figures do not establish what drove the price.

Why this matters

SUI's four-week gain of 54% highlights how some smaller blockchain tokens can outperform major cryptocurrencies like Bitcoin and Ether during certain market periods. However, the slower growth in actual network usage and the pullback in trading volume suggest the price rally may not reflect a proportional increase in on-chain activity.

Sources

• The Defiant

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