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Panic prevailed in the crypto market today, soon after what looked like a path to recovery as April ushered in the second quarter of the year.
Some altcoins, including Avalanche (AVAX) and Sui (SUI), experienced price rebounds the previous day. However, a considerable dip was observed today.
That said, the previous day’s price recovery has reignited the rivalry between AVAX and SUI in terms of ranking and market capitalization.
Avalanche Gains Momentum with Institutional Backing
In the last 24 hours, AVAX price saw a drawdown of 8.90%, despite a rebound from $18.83, which was supported by investors’ activities, to a high of $19.83 in the previous trading session.
The trading volume also recorded a whopping 56% hike to $502.85 million within a day.
Besides the renewed interest from market participants actively trading AVAX, the growing adoption fuels a bullish case for the asset.
AVAX flipped SUI with respect to market cap, as the former was at $7.47 billion as compared to $7.23 billion for the latter.
Notably, Jay Kurahashi-Sofue, a Web3 marketing professional, highlighted Avalanche’s growth and usage metrics.
He noted that the Proof-of-Stake protocol has surpassed two billion transactions and 30 million unique addresses.
Other positive indices from AVAX include achieving 113 million transactions as a monthly average in 2025. The ecosystem also has $1.9 billion stablecoin liquidity.
In addition, Avalanche has also attracted the attention of government agencies like FEMA, which use AVAX for disaster relief fund distribution.
Financial giants BlackRock, KKR, and Franklin Templeton have also launched tokenized funds on Avalanche through Securitize.
Kurahashi-Sofue opines that AVAX is at the forefront of on-chain finance, stablecoin adoption, and even gaming.
He maintains that these positive developments would lead to a bullish breakout for AVAX and propel its price upward.
However, Ali Martinez, renowned on-chain analyst, noted that AVAX is “breaking out of its channel.” This suggests that the cryptocurrency has moved below a defined range.
He maintained a bearish stance based on the asset’s price chart. According to Martinez, AVAX signaled a bearish pattern that might push it back to the $7 support.
Sui Holds Strong But Faces Resistance
Sui price is also staging a comeback. The coin climbed from $2.32 amid fluctuations to $2.50 in earlier trading sessions.
However, investors are still cautious, which has resulted in a 8.83% drop in price to $2.22 as of writing.
Following this price drop, the trading volume leaped by over 57% to $1.56 billion. Following these developments, the SUI chart holds promise as it forms consistent higher lows.
While Market participants are looking forward to pushing the price towards $2.70, the crypto was trading at $2.20 at the time of writing.
For SUI to stand a chance at further rallies, it must breach resistance at $2.80 and $2.90.
AVAX Versus SUI: The Road Ahead
Meanwhile, the Sui blockchain recently registered notable development that reflects growing adoption as a high-performing Layer-1 ecosystem.
Walrus, a decentralized protocol built on Sui, launched its mainnet on March 27, 2025.
The development introduces programmable storage that could enhance Sui’s secure and scalable decentralized data solutions capabilities.
Regarding institutional interest, Canary Capital has filed for the first-ever spot SUI exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC).
These significant developments highlight Sui’s determination to maintain a lead in the broader crypto sector even as Avalanche comes off as a tough competition.
