SUI Flips Chainlink (LINK) to Enter Top 10 Non-Stablecoin Cryptos

SUI’s continued price ascent drove it into the top 10 non-stablecoin crypto rankings on May 6. This climb included flipping Chainlink (LINK) in market value.

The continued price ascent of Sui (SUI) has propelled it into the top 10 non-stablecoin crypto rankings, according to data from CoinGecko. As of May 6, SUI's market cap has risen to approximately $11.25 billion, surpassing Chainlink (LINK) in the process.

While Chainlink is often included in the broader top 10 crypto rankings, it now appears to be focused on its next major goal: reaching a value equal to half of Cardano's (ADA) market cap.

As the market cap of ADA is $23.865 billion, SUI has already achieved more than 44% of that goal.

Price Ascent Fuels LINK Flip

SUI's market cap has now risen to approximately $11.25 billion, surpassing Chainlink's $8.9 billion. The flip comes amid a price increase, with SUI trading at $3.36 at the time of writing, a 0.8% drop in the past day. However, SUI has been on an impressive run in the past month, with a 53.75% rise.

The 24-hour trading volume for SUI now exceeds $1.59 billion, reflecting strong investor interest. In comparison, Chainlink trades at $13.54, a 3.5% drop in the past day. Its daily transaction volume of $262 million is also lower than SUI, suggesting lower interest.

Despite its higher price, LINK has fallen behind SUI in rankings due to its relatively stagnant market activity.

'Half Cardano Market Cap' Set as Next Sight

Crypto analyst Martyparty highlighted SUI's market movement, noting the completed flip over LINK. He highlighted that SUI's valuation was now actively approaching the significant milestone of half of Cardano's total market cap.

This "sets sights" narrative aligns with SUI's strong trajectory. Martyparty suggested the price ascent could continue, hinting that buying SUI below $5 might still be timely.

Measuring SUI's Climb Towards Cardano

Cardano (ADA) remains firmly in the lead with a market capitalization of $23.865 billion. It trades at $0.6607, with a 24-hour volume of $637.28 million. However, SUI's climb puts the challenge in perspective.

ADA has faced selling pressure, with a 4.0% drop in the last 24 hours and 7% in the past week. In contrast, SUI is showing resilience, outperforming many other mid-cap assets during the same period.