SUI Network Rises to the Top 10 in May: A Closer Look
Daily influx of over 1 million fresh Sui Network wallet addresses
The SUI Network has made a stellar comeback in May, grabbing a spot among the top 10 cryptocurrencies by market capitalization, excluding stablecoins. Although its market cap is still less than established Layer 1s, the network's allure among users is undeniable.
On-Chain Phenomenon: SUI's Skyrocketing Wallets and Trading Volume
According to data provided by Artemis, SUI Network has embraced more than a million new wallet addresses every day since the beginning of the year. Around 80% of the daily active addresses belong to these newcomers. The number of new addresses started climbing steeply in mid-February, with daily active addresses consistently staying above 1.5 million per day.
In contrast, BNB Chain, with a market cap seven times higher than SUI's, averages around one million daily active addresses. To put things in perspective, SUI's growth far outstrips that of its peers.
Moreover, trading volume on SUI's decentralized exchanges has been consistently surpassing $400 million throughout 2025, as indicated by DefiLlama data.
Strong Stablecoin Presence: Doubling the Crowd
The market cap of stablecoins on SUI has almost doubled since the beginning of the year, now surpassing $900 million, the highest level in the network's history. This rise indicates a significant increase in user demand within the SUI ecosystem.
Institutional Investment: SUI Gallops Past Solana
Recent analysis from BeInCrypto suggests that institutional investment flows into SUI have even surpassed those of Solana. This strong interest from institutional investors adds credence to SUI's growth potential.
Strategic Partnerships: Global Reach Amplification
In a strategically important move, 21Shares, one of the world's leading crypto exchange-traded product providers, announced a partnership with SUI Network in early May. The goal is to expand the ecosystem's global reach.
"We believe Sui has the potential to play a central role in the crypto world for a long time," Federico Brokate, Head of US Business at 21Shares, stated.
Expectations for SUI's Price Trajectory
Given the positive signs, some analysts predict a price recovery of $5 or more for SUI in the upcoming months. BeInCrypto's analysis also suggests a potential price surge if a golden cross is confirmed. At the time of writing, SUI is trading around $3.25, recovering almost 90% from the April low of $1.73.
So, buckle up and keep an eye on this rising star!
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- The SUI Network's market cap, despite being less than established Layer 1s, has placed it among the top 10 cryptocurrencies excluding stablecoins, showcasing its growing popularity.
- Data from Artemis reveals that SUI Network has witnessed more than a million new wallet addresses daily since the beginning of the year, with about 80% of these being daily active addresses.
- Comparatively, BNB Chain, with a market cap seven times higher than SUI's, averages around one million daily active addresses, highlighting SUI's rapid growth.
- Trading volume on SUI's decentralized exchanges has consistently surpassed $400 million throughout 2025, based on DefiLlama data.
- The market cap of stablecoins on SUI has almost doubled since the start of the year, reaching over $900 million, a record high for the network.
- Recent analysis from BeInCrypto indicates that institutional investment flows into SUI have surpassed those of Solana, underscoring SUI's potential for growth.
- In a strategic move, 21Shares, a leading crypto exchange-traded product provider, partnered with SUI Network in early May to expand the ecosystem's global reach.
- Analysts predict a price recovery of $5 or more for SUI in the upcoming months, with a potential price surge if a golden cross is confirmed.
- At the time of writing, SUI is trading around $3.25, recovering almost 90% from the April low of $1.73, suggesting a promising future for this altcoin within the crypto, DeFi, and altcoins ecosystems.
