SUI had a moment of glory after its launch, but I recently noticed some irregularities.

Looking at the trading data makes it clear—over the past three years, the total DEX volume in high-traffic areas for SUI has been gradually declining. What does this reflect? Insufficient momentum in ecosystem development. Moreover, during this recent dip, SUI's decline far exceeds that of SOL and ETH, even matching older chains like AVAX. For a project that prides itself on innovation, this is a bit embarrassing. The sharp drop has also discouraged those who wanted to buy the dip.

There's an even more painful issue—unlocked token pressure hasn't been addressed, and with the total token supply being too large, it always feels like it could become a cash machine for early investors someday. If that really happens, SUI might continue to hit new lows.

Some time ago, I bought SOL near 127. Comparing the two, SOL's ecosystem stability, user stickiness, and on-chain transaction volume are all stronger than SUI's current state. The recent big drop in SUI, frankly, is because its fundamentals haven't been repaired during the last mini bull run, so the token performance naturally looks poor.

If I want to position myself in SUI later, I’ll wait. Either wait for its fundamentals to truly recover, or wait for the project team to come up with substantial innovative applications, then gradually build a position with DCA. No need to rush.