SUI did shine after its launch, but I recently noticed some concerning issues.

Looking at transaction data, it's clear enough — over the past three years, SUI's total DEX volume in high-trading-density zones has been slowly declining. What does this reflect? Insufficient momentum in ecosystem development. And looking at this latest downturn, SUI's losses far exceed SOL and ETH, even matching older public chains like AVAX. That's embarrassing for a project that prides itself on innovation. The sharp drop has actually scared away people who wanted to buy the dip.

There's another more painful issue — unlock pressure remains unresolved, token supply is too large, and it constantly feels like it could become an early investors' ATM machine someday. Once that happens, SUI will continue to bottom out.

I bought SOL around 127 recently. In comparison, SOL's ecosystem stability, user stickiness, and consistency of on-chain transaction volume all outperform SUI currently. SUI's massive drop essentially boils down to fundamentals not recovering during the last minor bull run, so token performance naturally looks bad.

If I want to position in SUI later, I'll wait. Either wait for its fundamentals to genuinely improve, or wait for the project team to deliver substantial innovative applications, then build my position slowly with DCA. No need to rush.