SUIG stacks 19M SUI in 30 days even as prices stall – Here’s why
Journalist
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Key Takeaways
Why is SUI nonetheless in focus regardless of lagging L1 friends?
SUIG has stacked 101 million SUI and added 19 million within the final 30 days, almost 27× sooner than ETH accumulation.
How is SUI proving its worth on-chain?
The community sees 4.5 million day by day transactions and 927k day by day lively addresses, virtually 3× Ethereum’s.
Sui [SUI] is clearly lagging its L1 friends.
Most big-cap L1s have bounced again from the Q1–Q2 massacre, driving a stable Q3, however SUI continues to be 40% off its Q1 highs. In the meantime, Ethereum [ETH] has recovered 100% of its H1 losses with a 60%+ Q3 pump.
Little doubt, ETH’s rally received a lift from establishments, with BitMine [NASDAQ: BMNR] holding 2.4 million ETH. On the SUI facet, SUI Group Holdings (NASDAQ: SUIG) has stacked 101 million SUI, totaling 2.8% of the provision.
Supply: CoinGecko
Briefly, institutional urge for food is there, however SUI’s nonetheless taking part in catch-up.
Reinforcing this, on-chain, SUIG has been on a tear, grabbing 19 million SUI prior to now 30 days, whereas BMNR solely added 702k ETH. That’s almost 27× sooner accumulation, displaying SUIG is loading up at a loopy tempo.
Actually, SUIG not too long ago repurchased 276k shares beneath its new $50 million inventory buyback program. Might this be a sign of deeper confidence in SUI, which, in comparison with different high-cap L1s, nonetheless appears undervalued?
SUI’s gradual and regular grind is constructing actual adoption
A 276k share buyback reveals SUIG is making an attempt to juice its inventory worth.
Q3 hasn’t been type. SUIG is down 32% from its $5.37 open, displaying the market demand isn’t actually there. On this context, the $50 million buyback is principally a transfer to assist the float and add worth for shareholders.
On high of that, it’s additionally pumping liquidity into their 101 million SUI stack, maintaining institutional baggage secure. In the meantime, SUI’s day by day lively addresses simply hit a month-to-month excessive of 927k.
Supply: Artemis Terminal
Against this, Ethereum’s DAA stays flat at 530k.
On-chain, SUI’s adoption is clearly stacking up. The community processes 4.5 million day by day transactions, virtually 3x that of Ethereum, displaying customers are literally utilizing SUI for actual on-chain exercise, not simply holding.
Coupled with deeper institutional urge for food and the community’s real on-chain engagement, SUI’s undervaluation thesis is trying stronger, positioning it as a key pillar within the Web3 transformation.
