This could be the next cryptocurrency to make major waves.

During the last decade, Bitcoin (BTC 3.04%) it was one of the best cryptocurrency investments you could have made. Since 2013, when Bitcoin first broke the $100 mark, the value has exploded by nearly 63,000%. But even if you’re a long-term crypto bull, you have to admit that Bitcoin may never achieve that feat.

But that’s perfectly fine, because there’s another cryptocurrency that could be poised to make major waves. Most likely, you have never heard of climb (SUI 0.89%)but it is already the 21st most valuable cryptocurrency in the world. For the year, Sui has roughly doubled, compared to a roughly 50% gain for Bitcoin. So what makes Sui (pronounced “swee”) so special?

Can Sui Topple Ethereum?

Sui is a Tier 1 blockchain network, which means its rivals include the likes of Ethereum (ETH 1.79%) and Solana (SOL 4.63%). In fact, Sui has often been described as a “Solana killer” due to his potential to one day surpass Solana. And in turn, Solana has been described as an “Ethereum killer”. So you can see where I’m going with this: Sui has the long-term potential to become the world’s leading Layer-1 blockchain network, surpassing both Solana and Ethereum.

Sui currently has a market cap of around $4.5 billion, compared to Ethereum’s $310 billion. So if Sui were to overtake Ethereum one day, that implies an 80x increase in market cap — at least based on today’s prices. That sounds fantastic, but keep in mind: Over the past decade, other Layer-1 blockchains have tried to outdo Ethereum, but with limited success, so there’s also plenty of reason to be skeptical of Sui’s chances.

The good news is that Sui is starting to see a significant improvement in baseline performance metrics. For example, in August, Sui performed a blockchain update that theoretically makes it faster than Solana when it comes to transaction processing speed. Sui can now process 297,000 transactions per second, compared to 65,000 for Solana.

And Sui is also making tremendous gains in total value locked (TVL), a key metric for determining the overall health of a blockchain ecosystem. TVL refers to the total dollar value staked or locked within a blockchain. So, the higher the TVL, the more attractive it becomes to users and developers. Sui is currently approaching $1 billion in TVL, placing it in the top 10 of all blockchains.

A huge catalyst for 2025

Sui also has a new catalyst for 2025: the launch of the world’s first portable Web3 gaming device. This new product has the potential to make Sui a major player in the Web3 gaming world. In early September, Sui began taking orders for the $599 device, which it expects to launch in the first half of 2025.

Image source: Getty Images.

Nearly 20 million portable gaming devices were sold in 2023, and the analyst estimates that the market will expand to 29 million gaming devices by 2028. So if Sui can capture even a small part of this opportunity market, it could be huge. Of course, it remains to be seen how Sui’s device will compare to other entrants in the field. Sui says there will be a mix of traditional games and Web3 games offered for the device, and that Web3 games will look and feel a lot like traditional video games. All of this could help it go mainstream.

Sui will join Solana as one of two Layer-1 blockchains with hardware devices built specifically for the Web3 world, a decentralized version of the Internet. For her part, Solana has the Saga mobile phone and the Seeker Web3 mobile device. And now Sui will have SuiPlay0x1. Releasing a new hardware device is huge for attracting new users, new developers, and yes, new investors. For newbie crypto investors, the world of blockchain and crypto can seem very abstract, so having a physical product that you can pick up and touch can go a long way.

How high can Sui go?

In August, Sui was one of the best-performing altcoins (virtually every crypto other than Bitcoin), and analysts now say it has a chance to replicate Solana’s enormous gains as it evolved from an upstart blockchain to a potential criminal Ethereum. Solana is up over 900% in 2023, so that gives you a good idea of ​​how fast the rise could be for Sui.

Of course, this is crypto, so there is no such thing as a slam-dunk investment. You should expect extreme volatility with Sui, which took a big hit during the crypto “flash crash” in August. But if you’re looking for a cryptocurrency with tremendous upside potential, you might want to do your due diligence on Sui.