Sui Network has emerged as one of the top 10 altcoins by market capitalization in May, demonstrating remarkable recovery despite having a relatively modest market cap compared to other Layer 1 blockchain networks. On-chain data reveals the platform is adding more than 1 million new wallet addresses daily, indicating significant user adoption and growing ecosystem strength.
What to Know:
- Sui Network is generating over 1 million new wallet addresses daily, representing more than 80% of total daily active addresses
- Daily trading volume on Sui's decentralized exchanges consistently exceeds $400 million throughout 2025
- Institutional investment into Sui has reportedly surpassed that of competitor Solana, according to recent analysis
The network's explosive growth began in mid-February when new address creation started rising sharply. Daily active addresses have consistently remained above 1.5 million, according to data from blockchain analytics firm Artemis.
This level of activity surpasses that of BNB Chain, which averages around 1 million daily active addresses despite having a market capitalization seven times larger than Sui's.
Beyond wallet creation, the ecosystem is showing substantial growth across multiple metrics. Decentralized exchange volume has maintained steady momentum throughout 2025, with daily trading regularly exceeding $400 million according to data from DefiLlama.
The stablecoin market cap on Sui has doubled since January, now surpassing $900 million – marking the highest level in the network's history. This increase in stablecoin circulation typically indicates greater user participation and liquidity within the ecosystem.
"We believe Sui has the technical underpinnings, DeFi and developer ecosystems, and institutional alignment to play a central role in crypto for a long time," said Federico Brokate, Head of US Business at 21Shares, following the announcement of a strategic partnership between the companies.
Institutional Interest and Price Performance
The growth metrics align with increasing institutional attention. According to a recent report from crypto news outlet BeInCrypto, institutional investment flows into Sui have now exceeded those directed toward Solana, one of the industry's most established Layer 1 blockchains.
This institutional confidence was further reinforced in early May when 21Shares, a leading provider of crypto exchange-traded products globally, announced a partnership with Sui Network. The collaboration aims to expand Sui's ecosystem reach across international markets.
The positive on-chain growth and strategic partnerships have contributed to significant price recovery. Sui is currently trading around $3.25, representing an impressive 90% recovery from April's low of $1.73. Some market analysts now anticipate further price appreciation, with targets suggesting potential recovery to $5 or higher in coming months.
BeInCrypto's technical analysis indicates additional upside potential if a "golden cross" pattern is confirmed on price charts. This technical indicator occurs when a short-term moving average crosses above a long-term moving average, often signaling continued bullish momentum.
Closing Thoughts
Sui Network's combination of strong on-chain metrics, increasing institutional interest, and substantial price recovery indicates growing market confidence in the blockchain platform. With daily new wallet creation outpacing larger competitors and consistent growth in trading volume and stablecoin usage, Sui appears positioned for continued ecosystem expansion throughout 2025.