Sui Network is set to become a dominant force in the blockchain sector by 2024, surpassing other major networks in terms of transaction volume. According to Artemis, Sui Network has processed an astonishing 2.14 billion transactions this year.
Sui Network Surpasses Major Blockchains in Transaction Volume
This figure not only exceeds Tron's 1.35 billion transactions but also surpasses Polygon with 901 million, BNB Chain with 882 million, Base with 472 million, and Ethereum with 270 million.
The combined transaction volumes of Polygon, Arbitrum, Base, and Ethereum are still lower than that of Sui Network alone, highlighting its significant growth and adoption. Sui has also demonstrated its dominance in decentralized exchange (DEX) volume, achieving 50 times the volume of Aptos within the first 365 days after its mainnet launch. This substantial difference showcases Sui Network's ability to facilitate a high level of on-chain activity, solidifying its market position.
Additionally, Arden, a company specializing in gamified loyalty programs and on-chain incentive marketplaces, has partnered with Sui Network.
According to a previous report, this partnership leverages the network's speed and scalability, enhancing Arden's consumer engagement platform and boosting the global rewards industry. It is said that Arden's operations have become more efficient and effective through seamless integration with Sui's technology.
Moreover, an analyst has praised Sui Network for its outstanding performance, noting that it is six times faster than Solana. The network is highly scalable, capable of processing 297,000 transactions per second, which far exceeds Solana's throughput.
As of the time of writing, Sui's native token, SUI, is trading at around $0.8631. It has risen by 1.08% in the last 24 hours, with a daily trading volume of $127.61 million.
