Sui Leaves NEAR in the Dust with 3.77x More TVL Per Market Cap Dollar

Sui and NEAR are two layer 1 blockchain platforms competing in the market. According to data from Phemex, Sui has a significantly higher total value locked (TVL) per dollar of its market capitalization compared to NEAR. On September 18th, Sui had $496.6 million of TVL against a market cap of $3.34 billion, resulting in a ratio of 14.9 cents of TVL per dollar of Sui market cap. In contrast, NEAR had $194.1 million of TVL against a market cap of $4.91 billion, resulting in a ratio of 4.0 cents.

The difference between the two platforms is staggering, with Sui having 3.77 times more TVL per dollar of its market capitalization compared to NEAR. This gap persists even when considering fully diluted value, with Sui having 6.1 cents of TVL per dollar and NEAR having 4.0 cents.

Another area where Sui outperforms is in stablecoin holdings on chain, with $475.4 million parked on Sui compared to $80.7 million on NEAR. Additionally, Sui's 30-day chain gas fees total $127,766, while NEAR's total is $61,119.

However, it's worth noting that NEAR has the highest price among the two platforms, with a close of $3.759 on September 18th, representing a 19.33% gain on the session. In contrast, Sui's price was $0.8143.