Sui simply posted one in all crypto’s most eye-catching month-to-month positive factors, and a brand new Bitcoin lending system on its community is drawing comparisons to Solana’s early rise. However a more in-depth have a look at the numbers tells a extra sophisticated story.
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Crypto fans are buzzing that Sui (CRYPTO:SUI) may be the subsequent Solana (CRYPTO:SOL) after a outstanding 48.6% acquire over the final month. This surge coincided with the emergence of Hashi, a brand new system on Sui that permits establishments to borrow towards Bitcoin (CRYPTO:BTC). A powerful worth transfer, mixed with an revolutionary use case, has reignited comparisons to Solana.
Nevertheless, the current rally has slowed down. As of October 11, 2026, Sui trades at $1.10, down 7.2% over the previous week. Sui is a layer-1 blockchain, that means it’s a foundational community that processes transactions and hosts purposes straight, with its coin used to pay transaction charges.
So what would it not imply for Sui to turn out to be “the subsequent Solana”?
Hashi Goals to Let Establishments Borrow Towards Bitcoin With out Promoting
Whereas 24/7 Wall St. has not independently verified Hashi’s particulars, reviews point out it lets establishments increase money towards their Bitcoin with out promoting. The method entails locking Bitcoin in a multisignature vault on the Bitcoin foremost chain—a safe pockets that requires a number of approvals earlier than anybody can transfer any cash. In alternate, the establishment receives a corresponding token on Sui, permitting them to take out a mortgage, just like how owners borrow towards their property.
This strategy is interesting as a result of promoting Bitcoin can set off tax liabilities and eradicate the risk of future positive factors. Loans let Bitcoin holders preserve possession whereas accessing money. There appears to be a powerful demand for these loans. In an October 2026 episode of The Pomp Podcast, a visitor from a crypto finance platform talked about that their fastest-growing section entails borrowing towards cryptocurrencies.
Nevertheless, taking a Hashi mortgage comes with dangers. A Bitcoin holder’s safety relies upon solely on Bitcoin’s worth, whereas a borrower utilizing Hashi additionally relies on Sui’s performance and the vault system’s integrity. Crypto-backed loans turn out to be riskier as collateral worth declines. As Hashi has but to publish utilization or mortgage metrics, it’s unsure how a lot traction it has gained.
Bitcoin lending offers Sui a novel promoting proposition, and Sui is already a part of the CME Emerging Crypto Index, a benchmark monitoring a choose group of cryptocurrencies. Nonetheless, Sui requires confirmed person engagement to again up that pitch.
Sui Beat Solana This Month however Trades Additional Beneath Its File Excessive
Right here’s how Sui and Solana examine.
| Measure | Sui | Solana |
|---|---|---|
| Value | $1.10 | $109 |
| 30-day change | +48.6% | +9.6% |
| 7-day change | -7.2% | -9.6% |
| Decline from all-time excessive | -79.5% | -62.7% |
Sui has clearly outperformed Solana over the previous month, gaining 48.6% in comparison with Solana’s modest 9.6% increase. Each cryptocurrencies fell in the previous week, however Solana’s decline was barely steeper.
On the draw back, Solana has proven higher resilience relative to its all-time excessive, buying and selling 62.7% under its peak, whereas Sui is down 79.5%. Thus, Sui holders are nonetheless going through a big problem to recuperate.
A Single Sturdy Month Isn’t Sufficient for Sui to Be the Next Solana
Once we discuss “the subsequent Solana,” we imply matching Solana’s worth, which is at the moment 100 occasions Sui’s. For Sui to succeed in Solana’s worth level, it will want to extend a hundredfold. The info doesn’t counsel that this may happen anytime quickly. As a substitute of focusing solely on worth, it’s important to evaluate demand.
The important thing query is whether or not Sui can seize a significant portion of the demand that Solana at the moment serves, attracting merchants, app builders, and establishments in search of a quick, cost-effective community. To attain this, Sui should preserve constant developer exercise, safe ongoing institutional funding, and have purposes that preserve customers engaged after the preliminary rally fades.
A single month of development isn’t sufficient to ascertain a development. Sui’s rise occurred throughout a market section when traders shifted funds from bigger cryptocurrencies to smaller, riskier choices. Due to this fact, a lot of Sui’s success probably stems from broader market danger urge for food somewhat than unbiased demand for Sui itself.
Three indicators may strengthen the argument for Sui as a severe contender. First, Hashi ought to launch person adoption figures; with out strong utilization knowledge, it stays merely an idea. Second, Sui should proceed to outperform Solana after the present small-coin development subsides. Lastly, Sui must recuperate a considerable portion of its 79.5% decline from its peak to indicate patrons are prepared to carry long-term.
Is Sui the Next Solana?
At present, the knowledge means that Sui just isn’t poised to turn out to be the subsequent Solana. With Solana’s worth 100 occasions larger and Sui down farther from its all-time excessive, Sui holders face a big uphill battle to make this comparability significant.
Nevertheless, Sui’s story may change earlier than the finish of December 2026. If Sui can preserve its momentum and outperform Solana on a 30-day foundation by then, whereas Hashi publishes its adoption metrics, it might warrant a reevaluation of its potential. Conversely, if Sui fails to retain its current positive factors, it might additional distance itself from Solana.
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