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On the SUI chain, the competitive landscape in the DEX sector has become very difficult to break through. Take MAGMA as an example, with only $707 in protocol revenue over the past 24 hours, and a total of $5,841 in the past 7 days. To be honest, this income might be even less than the trading fees from some traders opening a single order, or the hype generated by a popular MEME.
Looking at projects that perform well on the same chain, how do they do it? NAVI Protocol ranks first on SUI, with nearly $469,902 in protocol revenue over the past 7 days. This NAVI also has its own DEX product, Astros, forming a more complete ecological loop. Comparing the two, the gap becomes clear.
Frankly speaking, based on MAGMA's current data, what mainly drives the growth of protocol revenue? It’s nothing more than token price speculation and funding support. Short-term emotional trading can boost the market temporarily, but when it comes to long-term growth potential? It depends on whether investors truly have faith or are just gambling out of frustration. In such a market environment, choosing projects requires more caution.
The ecosystem's completeness can indeed be impressive; NAVI's set of strategies looks much more comfortable.
Token price speculation won't last long; that hits home.
The SUI DEX track has already become highly competitive; it's really hard for new projects to stand out.
NAVI's model is worth learning from, but copying it isn't easy either.
The gap between NAVI and MAGMA is like heaven and earth; the ecosystem closed-loop is just different.
Projects supported by token price speculation are mostly a trap in the long run. Be cautious when betting on who will succeed.
The SUI chain DEX has already become very competitive; it's really hard for new projects to break through.
Compared to these poor data, I still favor those protocols with real revenue. NAVI's data is not insignificant anywhere.
No wonder some say it's even harder to choose projects than to choose coins themselves, with so many market bubbles.
NAVI's ecosystem closed-loop is indeed impressive; they are developing products, while MAGMA is probably just waiting for the price to rebound.
Short-term emotional trading anyone can do, but for the long term? It still depends on fundamentals; otherwise, it's just a gambler's mentality.
Compared to NAVI, we're completely outmatched. They have already established a closed-loop ecosystem, while we're still struggling with fundraising to survive.
How long can the coin price be manipulated? Anyway, I don't believe it anymore.