Is This Altcoin the Secret Weapon to Take Down Ethereum? You Won’t Believe It!
In a world where digital assets frolic like over-caffeinated squirrels, Grayscale, the self-proclaimed oracle of crypto wisdom, has declared that one particular layer-one blockchain, Sui (SUI), is poised to snatch market share from Ethereum (ETH) faster than a cat can knock a glass off a table. š±š„
According to the latest scrolls from Grayscale Research, Sui boasts āone of the highest throughput and lowest transaction costs of any single-layer network.ā This is a fancy way of saying it doesnāt need to rely on extra scaling layers, unlike Ethereum, which is like trying to fit a giraffe into a Mini Cooper. šš¦
Now, before you start throwing confetti, itās worth noting that Sui currently holds a mere 0.3% of the Smart Contract Platforms Crypto Sector by market cap. Yes, thatās right, a tiny crumb of the pie while Ethereum sits there like a gluttonous dragon on a hoard of gold. šš°
āWhile the competition in the Smart Contract Platforms Crypto Sector is likely to be as fierce as a catfight in a room full of laser pointers, Grayscale Research believes that Sui is the best-positioned third-generation blockchain to nibble away at Ethereumās market share over time.ā
As of this very moment, SUI has a fully-diluted valuation (FDV) of $25.9 billion, which is a bit like saying itās the tallest dwarf in the room compared to Ethereumās towering $242.9 billion. š
Grayscale chimes in with:
āIn just about a year, Sui has managed to lock up a whopping $830 million in Total Value Locked (TVL), according to the all-knowing CoinMarketCap. TVL is just a fancy term for the dollar value of digital assets that have been deposited in smart contracts. Sui has also kept a modest market cap of around $1.8 billion, which gives it a TVL/market cap ratio of 2.16, the second highest among its peers. Not too shabby for a newcomer!ā
For context, this ratio indicates how much value is actively used on the network relative to its market valuation. Suiās low ratio might suggest itās like that underappreciated artist whose work is worth a fortune but is still selling paintings at the local flea market. Meanwhile, Ethereum, the reigning champion of the smart contract arena, boasts a TVL/market cap ratio of 3.16. Talk about a heavyweight bout!
Follow us on X, Facebook, and Telegram
Don’t Miss a Beat ā Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Read More
- FC Mobile 25 Hero Chronicles event Guide and Tips
- ARC PREDICTION. ARC cryptocurrency
- Bridgertonās Simone Ashley and F1 Star Carlos Sainz Jr. Team Up for LāOreal Ad in Paris
- The White Lotus Season 4 release date, location, and more
- Weak Hero Class 1 Ending Explained
- Top gainers and losers
- mo.co gears up monster-hunting experience with its Open Beta, now live for both Android and iOS
- What is Venus Vacation Prism? ā Dead or Alive Xtreme explained
- Gangs of London shares first look at season 3 for 2025 release
- The best VALORANT crosshair codes from pro players
2025-03-26 23:02