Original title: "SUI rises 54% in three days! Decentralized Finance frenzy + capital madness, is 4 dollars just the starting point?"

Original author: Lawrence, Mars Finance

SUI against the trend surges: Value awakening under the resonance of technology, ecology, and capital

On April 25, 2025, the SUI token surged with an astonishing 54% rise over three days, breaking through $3.39. The total contract holdings across the network soared to $1.1 billion, making it the only project among the top 20 tokens by market cap to defy the historical resistance level.

Core Data Comparison (as of April 25):

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· TVL growth rate: The total locked value (TVL) of the Sui network reached $1.46 billion, with a weekly increase of 10%, far exceeding that of Solana (+3.2%) and Avalanche (-1.8%)

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· Stablecoin Proportion: The on-chain stablecoin market capitalization has exceeded 880 million USD, with USDC market share at 71%, and liquidity depth has increased by 200% compared to three months ago.

· DEX explosive power: Daily DEX trading volume exceeds 620 million USD, weekly DEX trading volume reaches 2.77 billion USD, which is 8 times higher than the market average, with Meme coins contributing over 60% of the trading volume.

Behind this "divergent growth" is the new ecological paradigm built by Sui - completing the closed-loop breakthrough from underlying protocols to application ecosystems through the triple engines of technology stack reconstruction, capital resonance, and community fission.

Technological Revolution: Operating System-Level Architecture in the Era of Public Chain 3.0

The technical architecture of SUI is not a linear upgrade of traditional public chains, but rather a reconstruction of blockchain architecture based on the concept of a "full-stack operating system":

1. Paradigm Shift of Consensus Mechanism

Mysticeti V2 Engine: Adopts a DAG (Directed Acyclic Graph) structure, compressing the shared object transaction confirmation time to 0.25 seconds, with a tested TPS exceeding 120,000. This makes Sui the first public chain to support high-frequency quantitative trading, with slippage on the DeepBook order book reduced by 40% compared to Uniswap V4. Remora Sharding Mechanism: By splitting the verification node tasks into three major modules—computation, storage, and validation—it achieves linear scalability. In the testnet environment, each additional cluster of nodes can increase TPS by 43,000.

​​2. Disruptive Breakthroughs in the Storage Layer​​

Walrus Distributed Network: As the first programmable storage sidechain, it uses erasure coding technology to reduce storage costs to 10% of traditional solutions. In the first month of the mainnet launch, it carried 200TB of AI training datasets, providing infrastructure for computing projects such as Render Network. SEAL Dynamic Encryption Protocol: It enables graded authorization of NFT content, and Warner Music has issued dynamic music NFTs based on this technology, with play counts exceeding 120 million.

​​3. Generational Leap in Developer Experience​​

· Move Prover smart verification: Reduces contract vulnerability rate to 0.3% through formal proofs, improving security by 5 times compared to Solidity.

· RPC 2.0 response system: The GraphQL-based query system compresses data call latency to within 50ms, combined with the Bugdar AI auditing tool, resulting in a 3-fold increase in development efficiency.

· This technical architecture allows Sui to break free from the "performance-decentralization" binary paradox. Artemis data shows that it has 297 active validating nodes, far exceeding Solana's 183, truly achieving a balance between high performance and decentralization.

Ecological Explosion: The Flywheel Effect of Multi-Track Collaboration

The Sui ecosystem has formed a complete matrix of "infrastructure - middleware - application layer", with various tracks showing a collaborative explosive growth.

​​1. The Institutional Transformation of Decentralized Finance​​

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· Cetus Protocol: The liquidity aggregation protocol deeply integrates DeepBook, achieving a transaction slippage stability of less than 0.3% at the million-dollar level, attracting top market makers such as Jump Crypto to settle in, with the platform token CETUS having a monthly rise of 180%.

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· Scallop Cross-Chain Hub: Supports seamless transfer of assets across 20 chains through a modular design, and its "yield layering" mechanism allows stablecoin deposits to achieve an APY of 15%, with a TVL exceeding 500 million USD.

· Momentum stablecoin platform: Algorithmic stablecoins and over-collateralization mixed mechanism with an average daily trading volume of 120 million USD, becoming the cornerstone of Sui DeFi liquidity.

​​2. The Traffic Singularity of Meme+AI

· LOFI/BLUB phenomenon: Two major Meme coins saw daily rises of 124% and 100% respectively, driving on-chain active addresses to exceed 1.7 million. Their success stems from Sui's unique Gas fee subsidy mechanism, which stabilizes the cost of small transactions at $0.01.

· RockeeAI: A DeFi protocol integrated with natural language processing, enabling "voice command trading" features, with a social media sentiment analysis module covering over 2000 communities, and an accuracy rate of 78%.

· Zeromorph perpetual contract: AI Agent SDK supports users in training personalized strategies, and the "risk hedging engine" reduces the liquidation rate to the industry average of 1/3.

​​3. Ecological Expansion of Hardware Breakthrough

· SuiPlay0X1 gaming handheld: hardware deeply integrated with the blockchain gaming ecosystem, with 62% of the 700,000 pre-sale orders coming from traditional gamers. This device supports seamless acquisition of NFT equipment, driving a 300% surge in the number of Sui gaming DApps.

· Sui Frens Dynamic NFT: Achieving real-time interaction of NFT attributes through genetic mutation algorithms, rare floor prices breaking 420 SUI, and minting volume increasing by 470% week-on-week.

· This multi-dimensional explosion forms an ecological flywheel: technological advantages attract developers → rich applications enhance user retention → capital inflows strengthen liquidity → feeding back into technological iteration.

Capital Resonance: Traditional Forces Entering the Market to Reconstruct Valuation Logic

The re-evaluation of SUI's value is essentially a repricing of mainstream capital for Web3 infrastructure:

1. The Three Steps of Institutional Entry

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· ETF Breakthrough: Canary Capital submits the first SUI ETF application, VanEck predicts it will bring in $3.5 billion in incremental funding after approval.

· RWA Layout: Co-constructing a tokenization platform with Franklin Templeton, managing $15 trillion in traditional assets on-chain.

· Compliance Breakthrough: Obtained the Dubai VARA license, becoming the first compliant public chain in the Middle East, with the Abu Dhabi sovereign fund having allocated 230 million USD.

​​2. Structural Transformation of Liquidity

· Stablecoin leverage: USDC issuance increased by 7.77% week-on-week, institutions achieve cross-chain arbitrage through the CCTP protocol, with an average daily arbitrage scale exceeding 80 million USD.

SUI's total contract holdings on the entire network have surpassed 1.1 billion USD.

· Contract Position Changes: Coinglass data shows that the open interest for call options with a strike price of $3.5 increased by 320% week-on-week, with the market betting on a breakthrough of $4 in May.

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3. Disruption of Valuation Models

Traditional public chain valuations often use Metcalfe's Law (value ∝ number of users²), while Sui's full-stack capability gives rise to the "Metcalfe-Ziv composite model":

· Valuation = Number of Developers × (Number of DApps + TVL)^1.5

According to this model, the current valuation of Sui should reach 20 billion USD, with an 80% upward potential compared to the current price.

· This expectation is supported by on-chain data: Currently, there are 17 new DApps added daily on the SUI chain, which is 2.3 times that of Solana, and the ecological network effect has entered an exponential growth phase.

Conclusion: The second half of the public chain competition begins

The rise of SUI marks the entry of blockchain competition into the "full-stack capability" era. While other public chains are still entangled in TPS numbers, Sui has quietly completed a three-dimensional layout from the protocol layer to the application layer, and from the online ecosystem to offline hardware. Its triple resonance of technical depth, capital thickness, and ecological breadth is rewriting the fundamental rules of Web3.

The essence of this value reconstruction is the evolution of blockchain from a "financial experimental field" to a "digital economy operating system". When SUI Play0X1 handheld devices start appearing in the hands of subway passengers, and when fans of Warner Music go crazy for dynamic NFTs, we may be witnessing the true "breakout moment" of blockchain technology. This feast may have just begun.

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