Quick Overview
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In just a month, Sui saw an impressive 48% increase, driven by Hashi, a platform that allows institutions to secure loans backed by Bitcoin without liquidation.
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Currently, Sui trades at 80% less than its peak value and would require a price surge of 100 times to equate to Solana’s current market price.
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The recent surge in Sui’s value appears to be driven more by general market trends for altcoins, rather than specific demand for Sui itself, and Hashi has yet to provide any user adoption data.
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Crypto fans are excited about Sui (CRYPTO:SUI) after a notable rise of 48.6% in one month. This jump aligns with the rollout of Hashi, a new feature on Sui that enables institutions to obtain loans by using Bitcoin (CRYPTO:BTC) as collateral without selling. Such significant price movement, paired with a fresh application, has rekindled comparisons to Solana.
However, the recent upward trend has begun to wane. As of October 11, 2026, Sui’s price sits at $1.10, reflecting a 7.2% drop in the past week. Sui operates as a layer-1 blockchain, acting as a primary network for processing transactions and hosting apps, with its native token utilized for transaction fee payments.
What implications would it have for Sui to be labeled as “the next Solana”?
Hashi: Enabling Institutions to Borrow Against Bitcoin Without Selling
Although 24/7 Wall St. has not verified the specifics of Hashi, reports suggest it enables institutions to access liquidity against their Bitcoin holdings without having to sell. The process involves securing Bitcoin in a multisignature vault on the Bitcoin blockchain—a highly secure method requiring multiple authorizations before any transactions can occur. In return, these institutions receive a corresponding token on Sui, paving the way for them to obtain loans, akin to how property owners capitalize on their real estate.
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