Sui Network (SUI) has seen a remarkable growth, featuring as one of the best blockchain performers in the cryptocurrency market. Deemed the next Solana (SOL) or the Solana-killer, Sui now has a higher stablecoin market cap than five of its competitors combined, including Cardano (ADA), once called the Ethereum (ETH)-killer.
According to ToreroRomero’s post, “Sui has a larger stablecoin market cap than Fantom, zkSync, Algorand, Scroll, and Cardano combined.” The post, dated March 17, 2025, reveals Sui’s stablecoin market cap at $638 million.
This surpasses Fantom’s $323 million, zkSync’s $134 million, Algorand’s $119 million, Scroll’s $25 million, and Cardano’s $24 million combined. This milestone underscores Sui’s rapid growth in the blockchain sector.
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Why a does large stablecoin market cap for Sui matter?
The network’s stablecoin dominance signals increasing adoption and utility, as these tokens are the most liquid on-ramps to crypto. Therefore, it hints at investors now seeing Sui as a formidable player, challenging established networks like Cardano.
Moreover, a growing stablecoin market cap can also benefit Sui’s ecosystem, with potential capital rotation between projects, increasing their value. The network’s base token, SUI, is another asset highly favored by this inflow, with an expected price surge following it.
SUI price and fundamental analysis
Nevertheless, Sui’s price currently stands at $2.28, down 46.25% year-to-date after massive unlocks amid an overall bear market.
Finbold has been monitoring and reporting Sui cliff unlocks according to data from Tokenomist. For example, December 1 saw Sui’s largest unlock in U.S. dollar value of 2024, unlocking $224 million worth of 64.19 million tokens. January 2025 had an even larger unlock nominal value for the same amount, valued at $274 million, as reported.
On a cautionary perspective, Sui has a unique tokenomics, which allows Mysten Labs and Series A/B investors to stake their locked tokens. These positions generate asymmetric liquid rewards against other staking investors, allowing these entities to sell these rewards or compound their staking positions over time.
Yet, with a market cap of $7.23 billion and a fully diluted valuation (FDV) of $23 billion, Sui is still in a good position when compared to some of the mentioned competitors and more. Fundamentally, Sui leverages its object-oriented design and Move programming language. This enhances scalability and security, attracting developers and users.
What analysts say about SUI amid stablecoin growth
Crypto analyst XBT_agent noted on March 17, that Sui’s ecosystem shows strength, with volume spiking and potential breakouts. Consequently, Sui’s achievement boosts investor confidence.
TehMoonwalkeR’s post on the same day claims Sui could be “the Solana of this run,” citing its youth and growth. “SUI is not even a few years old,” he said. Even in this conext, however, price predictions vary. Changelly forecasts Sui reaching $2.42–$2.83 in 2025, while InvestingHaven projects $3.33–$8.75.
This development aligns with a broader trend. CoinGecko reports the total stablecoin market cap exceeds $236 billion, indicating a robust bull cycle, despite recent bearish sentiment. Sui’s position strengthens its case as a layer-1 leading competitor to Ethereum and Solana.
Still, risks remain. Analysts warn of market volatility, urging vigilance on liquidity flows. Sui’s success depends on sustaining growth and overcoming technical and economic hurdles, like its unlocks.
Overall, Sui’s stablecoin dominance marks a pivotal moment. It challenges Cardano and others, reshaping the crypto landscape. Investors should monitor Sui’s fundamentals and market trends closely.
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