- SUI flips BNB in 24h trade volume with $2.06B vs. $1.7B, showing rising momentum.
- SUI surges 260% in a year as traders shift focus away from BNB’s flat performance.
- Despite a lower market cap, SUI beats BNB, DOGE, ADA & TRX in daily trading volume.
SUI has officially surpassed Binance Coin (BNB) in 24-hour trading volume, indicating a shift in how investors are trading major cryptocurrencies. Recent market indicators put SUI’s trading volume at $2.06 billion, marking a 29% increase from yesterday, while BNB had a volume of $1.7 billion with a relatively lower day-to-day increase of 9.8%.
This volume flip comes as SUI’s price maintains a multi-timeframe uptrend across all key periods. As of press time, the token is up 11.4% in the past 24 hours, 3.0% over seven days, 86.6% over 30 days, and a massive 260.5% increase over the past year.
The surge in trading activity places SUI ahead of several cryptocurrencies with larger market capitalizations. Although it is positioned in the 11th spot by market cap, SUI’s daily trading volume now exceeds not only BNB (ranked 5th) but also other major assets, including Dogecoin (DOGE), Cardano (ADA), and TRON (TRX).
BNB shows limited yearly growth
The contrast between SUI and BNB extends beyond trading volume to price performance. While SUI yielded a return of 260.5% last year, BNB gained only 5.4% around the same time.
BNB’s relative stagnation comes despite being the native token of the world’s largest crypto exchange by trading volume. SUI’s trading volume explosion can be due to several factors. Notably, the Sui ecosystem has expanded its dApp offerings, attracting developers and users to the platform.
Related: SUI Flips LINK, Sets Sights on Half of Cardano Market Cap as Price Continues Ascent
The volume trading increase is also indicative of increased activity on social media surrounding the project. The difference between volume trading and market capitalization rankings is intriguing. SUI’s total market value ($7.8 billion) can still be lower than that of BNB’s ($59.2 billion), but is seen in the increased frequency of buying and selling of the token.
This is likely to be an indication of shifting sentiments in the market since trading volume tends to indicate what will occur with prices. Increased trading volume in relation to market value may indicate that a cryptocurrency is receiving more interest than its prevailing price would indicate.
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