Sui and Sei Remain Among the Biggest Underperformers, Decreasing by a Combined 210%

Sui and Sei are two cryptocurrencies that have been underperforming in the crypto market since the year started, recording a combined decline of over 210%.

Cryptocurrency prices have been on a downturn since 2024, and two tokens, Sui (SUI) and Sei (SEI), have been among the biggest underperformers. Both tokens have declined by over 90% in the past year, and their prices are now at levels that many investors didn’t expect. Here’s an analysis of each of the two tokens and the reason behind their decline.

Sui and Sei have combined to drop by over 210% in the past year. This makes the two tokens among the biggest losers in the crypto market. Both tokens started the year with a loss of over 50%, and they continued to decline throughout the year.

The two tokens started the year at a price of $1.9 and $1.1, respectively. However, at the time of writing, Sui trades at $0.33, showing a decline of over 82%. On the other hand, Sei trades at $0.23, which is over a 130% decline from the starting price.

Both tokens have been on a downtrend since 2024, and their prices are yet to show any sign of recovery. Both tokens have lost over 90% in the past year, and their prices are now at levels that many investors didn’t expect. Here’s an analysis of each of the two tokens and the reason behind their decline.

Sui has also declined within the past year, remaining unprofitable in the monthly, three-month, and year-to-date data. According to CoinMarketCap data, Sui had a decline of around 28% in the past month, decreasing from over $1 to less than $0.57. Moreover, the price declined by 50% and 12% in the three months, and YTD data shows a bearish outlook. The highest price for this token was $2.17 back in March, and the current price is 66.29% lower than the all-time high price.

Sei seems to be the one with the most declines, assuming both tokens are compared with declines of over 130% in the past year. Note that this is a combination of its downturn in the past month, 90 days, and its year-to-date data is also in losses.

According to data from CoinMarketCap, the price of this token decreased by more than 30% in One month. Apparently, there was a price decline from $0.55 to less than $0.24. Moreover, in the three-month chart, the price reduced from $0.68 to $0.23, representing a 48% decline.

Another piece of data from CoinGecko shows that the highest price paid for Sei (SEI) was $1.14, recorded on March 16, 2024. Thus, the current price of this token is 71.03% lower than the all-time high. Nevertheless, it is also 246.18% higher than the all-time low. Despite these changes, Sei is still down by over 50% in the past year.

For Sui, one of the key issues is the concentration of Total Value Locked (TVL) in a few protocols, particularly Cetus and NAVI, which hold over 70% of Sui’s TVL. This concentration indicates a lack of diversification within the ecosystem, suggesting that not many projects are generating significant volume on the blockchain.

Besides the downturn from the broader crypto market, Sui’s theoretical high transaction per second (TPS) capability of 297,000 is not being realized in practice. In fact, the actual TPS averaged only around 4. The massive difference between the theory and reality indicates issues with adoption and activity on the network

Just like Sui, the primary concentration of Sei’s TVL is between two networks, Yei Finance and Dragon Swap. The two hold over $63 million of the $79 million total value locked. Furthermore, the price decline of Bitcoin has also been affecting cryptocurrencies such as Sei.

Sui and Sei are two cryptocurrencies that have been underperforming in the crypto market since the year started, recording a combined decline of over 210%. Between the two tokens, Sei seems to have the most drop, with over 50% losses in the YTD data and over 80% losses in the monthly and three-month charts. One of the primary causes of the decline between the two cryptocurrencies is the lack of diversification within their ecosystem. Moreover, the downturn of Bitcoin in the past few months has greatly affected the price of the broader crypto market.

The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions