Toncoin held the top spot in year-to-date gains, but Sui has recently surged past, with an impressive 180% YTD growth.
- Sui has surged past Toncoin in year-to-date gains, achieving over 180% growth. TON remains in a bear trend, while SUI maintains a strong bull trend.
Until recently, Toncoin was the highest gainer year-to-date (YTD) among major cryptocurrencies. However, Sui [SUI] has emerged as a strong contender, achieving massive gains in the past few days that have propelled its price to an all-time high (ATH).
Toncoin’s early lead
Earlier this year, Toncoin [TON] experienced a wave of interest across the crypto space. At the start of the year, TON was trading at approximately $2.3, but it saw rapid price increases beginning in March. By June, Toncoin had surged to over $8, marking a significant rise.
According to CryptoRank, Toncoin’s YTD gains have been impressive, increasing by over 126%. This is a substantial gain, especially when compared to Bitcoin, the highest-ranked cryptocurrency, which has risen by 51% YTD.
At the time, Sui was not even considered among the top contenders for YTD performance.
As of press time, TON was trading at approximately $5.2, with a modest daily increase of over 1%. Despite these gains, Toncoin is currently in a bearish trend, as indicated by its Relative Strength Index (RSI), which has dipped below the neutral line. This suggests that the price momentum has slowed in recent days.
Sui surges past Toncoin
Sui has recently overtaken Toncoin as the highest gainer in terms of YTD performance. Analysis of Sui’s price chart reveals that its YTD gains have now exceeded 180%.
Data from CryptoRank shows that as of this writing, Sui’s gains stand at an impressive 187.7%, making it the top performer among the top 20 cryptocurrencies.
Currently, SUI is trading at around $2.2, reflecting a 3% decline from its recent ATH of $2.3, which was reached in the last trading session. At the beginning of the year, Sui was trading at approximately $0.6, showcasing its remarkable growth in just a few months.
Source: TradingView
Despite the recent pullback, Sui remains in the overbought zone, with its RSI hovering around 70. The recent decline has slightly reduced its RSI.
However, it is still firmly within the overbought territory, suggesting that there may be further room for price corrections.
Toncoin still leads in market capitalization
Despite Sui’s recent surge and greater YTD gains, Toncoin maintains a significantly larger market capitalization. According to CoinMarketCap, Toncoin’s market cap is around $13.4 billion, making it the tenth-largest cryptocurrency by market cap.
In contrast, Sui, while impressive in its recent performance, holds a market capitalization of $6.2 billion, placing it 17th among the largest crypto assets.
Although Sui has outperformed Toncoin in terms of YTD growth, it still lags in overall market share.
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