SUI Flips Multiple Altcoins to Become the New Market Cap Leader

Sui Network (SUI) has overtaken several altcoins in market cap following last week's impressive rally. Its price action is now pushing for a breakout, signaling strong momentum.

Key Insights:

* Sui Network (SUI) has overtaken several altcoins in market cap following last week’s impressive rally.

* Its price action is now pushing for a breakout, which could decide the next move for the coin.

* On-chain data also shows that capital is flowing to Sui from other chains, especially Ethereum.

Sui Network (SUI) has risen in the market cap rankings, overtaking several well-known altcoins. This move highlights the recent surge in investor interest and momentum.

As of Monday morning, SUI had climbed to seventh place in the market cap charts, reaching $11.47 billion. It surpassed LINK ($9.89B), AVAX ($8.95B), XLM ($8.58B), and TON ($8.02B) in the process.

This positions the recent breakout coin as the leader among these established Layer-1 and DeFi tokens, showcasing its escalating market position.

Chart showing the market cap of several tokens/coins | Source: Torero Romero/X

This rapid ascent in the market cap hierarchy is fueled by on-chain activity.

On-chain data from Token Unlocks revealed that over the past 365 days, about $2.1 billion or 29.12% of Ethereum’s network outflows flowed to Sui. During this period, SUI ranked as Ethereum’s second-largest recipient of capital, lagging behind only Solana.

It secured $4 billion in funding, further reinforcing its growing influence in the blockchain ecosystem. Arbitrum’s share in transactions was limited at 5.37%, BSC at 3.55%, and Base at 2.43%.

Capital flow to the ecosystem of Sui from the other chains was greater than even mature EVM and L2 chains had. Developers and users continue to show strong confidence in SUI, largely due to its performance-first design.

Additionally, DeFi and NFT activity on the network is accelerating, further reinforcing its growing adoption. Thus, Sوجه