TLDR:
- SUI generated $46.7K in fees on Oct 17 while Cardano brought in $7.6K, showing usage gaps.
- Daily DEX volume on SUI reached $650.4M versus Cardano’s $3.4M, nearly 200x higher.
- SUI recorded 691.5K daily active users compared to 28.6K on Cardano, signaling higher engagement.
- Transactions per day on SUI hit 5.5M, while Cardano managed only 37.5K, despite longer history.
The gap between SUI and Cardano is growing on-chain, even as market narratives lag behind. Metrics suggest one chain is thriving in usage while the other maintains a high market cap without comparable activity.
Daily revenue, trading volume, and user engagement highlight this contrast. SUI, barely in its second year, shows more consumer-scale activity than Cardano, established since 2017.
According to Eye Zen Hour, the difference in metrics signals a potential misalignment between market cap and actual usage.
SUI Outpaces Cardano in Revenue and Trading
On October 17, SUI generated $46.7K in network fees, compared to Cardano’s $7.6K. Eye Zen Hour highlighted this gap as a structural difference in real usage. Revenue patterns suggest SUI is capturing more consistent activity across its ecosystem.
Cardano’s fee generation has remained modest despite its larger market cap, reflecting limited network engagement.
Trading activity further illustrates the divergence. SUI recorded $650.4M in DEX volume for the same day, almost 200 times Cardano’s $3.4M. This indicates SUI users are transacting actively while Cardano remains mostly idle. On-chain observers point out that high DEX volume is a reliable signal of meaningful network adoption.
The daily user count confirms the trend. SUI reported 691.5K active users versus 28.6K for Cardano. This shows SUI is operating at consumer scale, while Cardano’s participation levels appear stagnant.
Metrics like these make the case for a usage-driven valuation discussion.
SUI’s network is not only handling high transaction counts but also demonstrating scalability. The chain processed 5.5M transactions per day, far exceeding Cardano’s 37.5K. Despite its shorter history, SUI is executing at a level Cardano has not reached in years.
Market Cap Discrepancy Reflects Lagging Narrative
Eye Zen Hour noted that SUI’s market cap sits at $9B, while Cardano’s is $23B. Despite this, SUI consistently leads in on-chain activity metrics.
The market narrative has not yet reflected the operational reality. Moreover, the chain’s high engagement, trading volume, and transaction throughput indicate a possible mispricing in valuation.
Metrics suggest that fundamentals are shifting, with SUI outperforming in active use and fee generation. Cardano’s larger market cap does not currently align with its on-chain performance.
Investors watching usage metrics may reconsider the valuation gap between the two chains. The data also implies potential opportunities for chains gaining real adoption traction.
Transaction trends, user growth, and revenue point to the project as one of the most active networks globally. Market observers highlight that while market cap remains high for Cardano, SUI is pushing real activity at scale.
According to Eye Zen Hour, metrics like these show the narrative is lagging, not the network.
