**Why Is SUI Still in Focus Despite Lagging L1 Peers?**
SUI may be lagging behind its layer-1 (L1) peers, but the network is proving its value and attracting significant institutional interest. Here’s a closer look at why SUI remains in the spotlight.
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### Institutional Appetite Shines Through
While most big-cap L1s have rebounded strongly after a tough Q1 and Q2, SUI is still about 40% below its Q1 highs. Ethereum (ETH), for example, has recovered all of its first-half losses with a 60%+ surge in Q3, boosted by institutional backing such as BitMine (NASDAQ: BMNR), which holds 2.4 million ETH.
On the SUI side, SUI Group Holdings (NASDAQ: SUIG) has accumulated 101 million SUI tokens—approximately 2.8% of the total supply. Over the last 30 days alone, SUIG acquired an additional 19 million SUI, a nearly 27 times faster pace than BitMine’s ETH accumulation of 702k tokens in the same period. This rapid accumulation signals strong institutional confidence and positions SUIG as a major SUI stakeholder.
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### Stock Buyback Signals Confidence
SUIG recently launched a $50 million stock buyback program and repurchased 276,000 shares. This move comes amid a challenging Q3 where SUIG’s stock is down 32% from its $5.37 opening price, indicating weak market demand. The buyback aims to support share price and create shareholder value, while also injecting liquidity into SUIG’s substantial SUI holdings—helping to safeguard its position.
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### On-Chain Activity Demonstrates Growing Adoption
SUI’s network activity tells a compelling story of adoption. With 927,000 daily active addresses (DAA) recently hitting a monthly high, SUI trails far ahead of Ethereum’s comparatively flat 530,000 DAA. Moreover, SUI processes around 4.5 million daily transactions—almost three times Ethereum’s transaction volume. This sustained on-chain activity reflects real user engagement rather than mere token holding.
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### Undervaluation Thesis Gains Strength
Combining strong institutional accumulation, proactive corporate measures like share buybacks, and growing on-chain usage, SUI’s case as an undervalued L1 platform becomes increasingly persuasive. Despite near-term price challenges, SUI is steadily building a foundation for broader adoption and has the potential to become a key pillar in the evolving Web3 ecosystem.
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**In summary:** While SUI has yet to match the price recovery of its L1 peers, strong institutional interest, steady accumulation, buyback programs, and robust on-chain engagement suggest that SUI’s long-term fundamentals are solid—and that it is worth watching as Web3 continues to transform.
https://ambcrypto.com/suig-stacks-19m-sui-in-30-days-even-as-prices-stall-heres-why
