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SuiRare
77/100STRICT
Rare
#28market cap17 Oct 2026

Sui

Smart Contract Platform, network protocol weightsMarket-cap rank 28, CoinGecko 23 Oct 2026
Fundamentals, not price
PillarRatingPosition on the 0 to 100 scaleWeightAdds
Sustainability73×0.2014.60
Transparency81×0.1411.34
Revenue64×0.106.40
Innovation88×0.2421.12
Community80×0.1814.40
Tokenomics63×0.148.82
Weighted sum, weights total 1.0076.68Rounds to the published score77
Analysed
17 Oct 2026
Engine
v5.2.0
Computed
2026-10-17 05:12 UTC
Inputs hash
4b593ca5394e

Pro opens Sui in full. Change, scenario, signal, risk factors, catalysts.

See plans

Research, not financial advice. Read the terms.

Pillar evidence

Input set 17 Oct 2026. 6 sources, 12 citations.
Each arc is one pillar rating, drawn to scale from 0 to 100.
Sustainability73

Can this project keep operating and funding itself for years?

Sui operates an energy-efficient delegated proof-of-stake network with Mysticeti consensus, $495M in DeFi TVL, and storage fund economics, tempered by May 2026 upgrade halts.12

Transparency81

Can outsiders see and check what the team and the protocol do?

Core Move and validator client code is open source on GitHub with frequent releases, public tokenomics documentation, and transparent post-mortem incident reporting.34

Revenue64

Does the protocol earn real fees or income from use?

Low base gas fees and gasless stablecoin transfers limit per-transaction revenue, though DeepBook trading and storage fund fees provide programmatic protocol fee capture.52

Innovation88

Is the technology being built and shipped, and does it matter?

Object-centric Move smart contracts, Mysticeti sub-second consensus, gasless stablecoin settlement, DeepBook liquidity, and Walrus storage establish strong technical differentiation.63

Community80

Who uses, builds and holds it, and how durable is that base?

Institutional adoption includes live spot SUI ETFs from Canary, Grayscale, and 21Shares alongside $495M in DeFi TVL and active global Move developer participation.25

Tokenomics63

Do supply, issuance and unlocks protect holders from dilution?

SUI has a fixed 10B maximum supply with staking and storage fund utility. With 4.12B SUI (41.2%) circulating, the -2.5 high dilution penalty applies from an 8.8 base.15

Sources
  1. 1docs.sui.io/concepts/tokenomicsCited for Sustainability, Tokenomics
  2. 2defillama.com/chain/SuiCited for Sustainability, Revenue, Community
  3. 3github.com/MystenLabs/suiCited for Transparency, Innovation
  4. 4github.com/MystenLabs/sui/releasesCited for Transparency
  5. 5tokenterminal.com/explorer/projects/suiCited for Revenue, Community, Tokenomics
  6. 6docs.sui.io/concepts/sui-move-conceptsCited for Innovation

About Sui

Analysis of 17 Oct 2026

Sui is a Layer 1 blockchain built with the Move programming language and an object-centric execution model. Its parallel transaction engine and Mysticeti consensus target consumer applications, decentralized finance, payments, and gaming.

Full overviewShow less

As of October 17, 2026, circulating supply stands at 4.12B SUI (41.2%) out of a 10B maximum supply. DeFiLlama records $495M in Sui decentralized finance total value locked.

Institutional access includes three active spot ETFs: Canary SUIS on Nasdaq, Grayscale GSUI on NYSE Arca, and 21Shares TSUI on Nasdaq.

T Rowe Price also included SUI in its 15-asset active crypto ETF filing. Payment utility expanded through protocol-level gasless stablecoin transfers integrated with Fireblocks custody.

Offsetting these gains, liquid staking protocol Volo suffered a $3.5M exploit across three vaults on September 9, 2026, following three mainnet v1.72 upgrade halts in May 2026.

Investment thesis

Sui combines object-oriented Move execution and Mysticeti sub-second finality with regulated institutional investment products. Three spot ETFs from Canary, Grayscale, and 21Shares give traditional allocators regulated exposure.

Full thesisShow less

Protocol-level gasless stablecoin transfers with Fireblocks custody and native Bitcoin bridging via the Hashi testnet broaden settlement utility. Samsung Wallet integration and a $30M DATA network investment in October 2026 further expand consumer distribution.

However, two structural constraints temper the investment case. First, only 4.12B SUI (41.2%) of the 10B hard cap circulates as of October 17, 2026, creating ongoing monthly unlock dilution across early contributors and treasury allocations.

Second, ecosystem security and reliability require sustained validation after the $3.5M Volo vault exploit on September 9, 2026 and the May 2026 mainnet upgrade halts. With DeFi total value locked at $495M, the risk-reward profile supports an ACCUMULATE posture for investors monitoring fee growth and validator stability.

Strengths
  • Regulated ETF access. Canary SUIS, Grayscale GSUI, and 21Shares TSUI trade on US exchanges, alongside inclusion in the T Rowe Price active ETF filing.
  • Gasless stablecoin settlement. Protocol-level gasless transfers with Fireblocks support let users send USDC, AUSD, and FDUSD without holding SUI for gas.
  • Cohesive technical stack. Object-centric Move execution, Mysticeti sub-second consensus, DeepBook order books, and Walrus storage support parallelized applications.
  • Bitcoin DeFi bridging. Hashi testnet deployment brings native Bitcoin collateral into Sui lending markets without wrapped custodial intermediaries.
  • Transparent incident response. Mysten Labs and validators patched the May 2026 v1.72 upgrade bugs without state rollback or customer fund loss.
Risks
  • Heavy supply dilution. Only 4.12B SUI (41.2%) of the 10B maximum supply circulates as of October 17, 2026, leaving 58.8% in scheduled unlocks.
  • Application smart contract risk. Liquid staking protocol Volo lost $3.5M across three vaults on September 9, 2026, exposing ecosystem audit gaps.
  • Validator reliability history. Three mainnet upgrade halts on May 28-29, 2026 from v1.72 bugs require a multi-quarter clean uptime record.
  • Muted fee accrual. Gasless stablecoin transfers reduce direct base-fee SUI demand, leaving value capture dependent on staking and storage fund locks.
  • Historical price drawdown. SUI remains well below its January 2025 peak of $5.35 amid fierce liquidity competition from Solana.
Competitive position

Sui competes in the high-throughput Layer 1 sector against Solana, Aptos, Near, and Ethereum Layer 2 rollups. It differentiates through its object-centric Move programming model, Mysticeti sub-second consensus, DeepBook native liquidity layer, and gasless stablecoin transfers.

Full positionShow less

Live spot ETFs from Canary, Grayscale, and 21Shares give Sui regulated capital access that Aptos and Near lack. However, Sui trails Solana in decentralized finance total value locked ($495M on October 17, 2026), daily active addresses, and decentralized exchange volume.

The September 2026 Volo exploit and May 2026 mainnet halts show that operational reliability must match throughput. In addition, 58.8% non-circulating supply creates steeper dilution than mature Layer 1 peers.

Conclusion

Sui pairs object-oriented Move execution and Mysticeti consensus with live spot ETFs from Canary, Grayscale, and 21Shares, gasless stablecoin transfers, and $495M in DeFi TVL. Those strengths are balanced by the September 9, 2026 Volo protocol exploit ($3.5M loss), May 2026 mainnet upgrade halts, and 58.8% locked token supply under the 10B hard cap.

Full conclusionShow less

With 4.12B SUI circulating as of October 17, 2026, sustained appreciation requires clean validator uptime and stronger fee capture. The fundamental profile supports an ACCUMULATE posture for risk-tolerant investors.

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