Raoul Pal: Sui Token 'Not Priced For What's Coming'

Raoul Pal, co-founder of Real Vision and member of the Sui Foundation board, believes that blockchain consolidation will lead to only a handful of winners. He points out that in cloud computing and programming languages, three to five leaders capture most of the market while specialists fill the long tail.

Pal thinks Ethereum is leading this group, holding about 70% of the stablecoin market, more than 70% of DeFi, and nearly all of the high-end NFT market. He estimates that if Ethereum were switched off, over $1 trillion in value would vanish, which is well beyond its current market value.

Solana has won the speed and cost race after Ethereum's congested 2021 NFT boom, according to Pal, and it is now home to memecoins. He notes that Solana co-founder told him about 240,000 tokens launch on the network each day, most of them by machines and AI agents.

Pal believes Sui has a strong case due to its programmable transaction blocks, which can handle up to 1,024 actions per transaction. It also features zero-fee stablecoin transfers and privacy/quantum readiness, essential for institutions to commit capital. He rejects criticism that Sui earns little in fees, arguing that high fees signal an inefficient chain.