Sui Soars 48% in Just One Month: Could It Be the Next Solana?

Sui just posted one of crypto's most eye-catching monthly gains, and a new Bitcoin lending system on its network is drawing comparisons to Solana's early rise. But a closer look at the numbers tells a more complicated story.

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Crypto enthusiasts are buzzing that Sui (CRYPTO:SUI) might be the next Solana (CRYPTO:SOL) after a remarkable 48.6% gain over the last month. This surge coincided with the emergence of Hashi, a new system on Sui that allows institutions to borrow against Bitcoin (CRYPTO:BTC). A strong price move, combined with an innovative use case, has reignited comparisons to Solana.

However, the recent rally has slowed down. As of October 11, 2026, Sui trades at $1.10, down 7.2% over the past week. Sui is a layer-1 blockchain, meaning it is a foundational network that processes transactions and hosts applications directly, with its coin used to pay transaction fees.

So what would it mean for Sui to become “the next Solana”?

Hashi Aims to Let Institutions Borrow Against Bitcoin Without Selling

While 24/7 Wall St. has not independently verified Hashi’s details, reports indicate it lets institutions raise cash against their Bitcoin without selling. The process involves locking Bitcoin in a multisignature vault on the Bitcoin main chain—a secure wallet that requires multiple approvals before anyone can move any coins. In exchange, the institution receives a corresponding token on Sui, allowing them to take out a loan, similar to how homeowners borrow against their property.