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Since its launch, Sui Network’s native token, SUI crypto has been among the best performing Layer 1 tokens despite the recent correction, with its on-chain metrics continuing to outdo its competitors.
Potential Wedge Breakout
SUI was trending in a declining wedge on a 4-hour chart, a trend that was indicative of an upward reversal.
SUI broke out of the wedge at $2.60 after posting a high of $5.50 towards the close of 2024.
The uppermost resistance of the wedge had reduced from $5.50 to $2.50, and the lowermost support converged from $1.50 to $2.00, showing a contracting range.
A break above the resistance at $2.50 suggested the presence of heavy buying pressure for SUI.
The rally might take SUI to $3.00, a substantial increase if the rally continues.
Otherwise, if SUI did not remain above $2.43, it would go back to the wedge’s upper trendline of $2.20, and that would render it a false breakout.
But another drop below $2.20 would have brought it down to $2.00, wiping out the bullish formation.
The breach of the falling wedge indicated reversal of hearts, with SUI moving towards $3.00 as of press time unless selling interest re-emerged.
SUI Crypto On-Chain Analytics
Looking at the on-chain analytics, SUI overtook Injective in total year-to-date transactions as data from a cumulative transaction count chart starting January 1, 2025 denoted.
SUI hit a 100 Million transaction milestone in mid-January but Injective remained behind with only 80 Million transactions.
SUI’s 200 Million milestone of transactions outpaced Injective’s at 180 Million.
By March 1 SUI crypto reached 300M transactions while Injective was at 280M leading to an increase in SUI’s advantage.
SUI achieved 360,088,830 transactions while Injective recorded 358,469,743 transactions but was narrowly bested.
The tight competition between the two networks demonstrated that SUI increased its network activity, making its ecosystem more desirable than Injective’s.
SUI’s steady advantage in the transaction count reflected growing user adoption which would have attracted more developers and projects to solidify its market share.
If Injective’s growth in transactions had continued its ascent, it would have posed a significant challenge to SUI’s market leadership by influencing the trajectory of future user engagement and transaction fee structures.
SUI, TON Compete In Stablecoin Transactions
Moreover, SUI surpassed TON in total stablecoin volume transactions in the chart since their year-to-date run beginning in February 2024.
SUI volume remained at the $20 Billion mark by August 2024, with TON remaining at $15 Billion.
SUI surpassed a record $40 Billion mark by November 2024, with TON at $30 Billion, when a gap between the two had become increasingly noticeable.
The real game-changer in March 2025 saw SUI crypto hit an all-time high of $60 Billion, followed by an ATH of $73,852,136,359—outpacing TON’s $49,462,349,931.
The intense competition exposed the growing dominance of SUI in the stablecoin market, its ecosystem being even more desirable than that of TON.
The spike in transfer traffic literally invited other DeFi projects to use SUI, further elevating its use and value within the market.
TON coin’s steady increase, on the other hand, showed that it could catch up with the lead once SUI’s pace dropped, eroding SUI’s hard-won advantage in stablecoin transactions.
