The Web3 battlefield is witnessing a clear power shift as Coldware (COLD) establishes dominance in the tokenization space. While Sui (SUI) and Ethena (ENA) have attempted to carve out their own niches, they now find themselves overshadowed by Coldware (COLD)’s disruptive technology and real-world asset integration.
Ethena (ENA) recently raised $100 million in a private token sale, aiming to develop its own blockchain and launch an institutional stablecoin, iUSDe. However, this move has done little to curb the rising influence of Coldware (COLD), which continues to capture the attention of both retail and institutional investors. Meanwhile, Sui (SUI), once hailed as an alternative to Ethereum and Solana, is struggling to maintain its foothold, with an increasingly volatile token supply and a liquidity drain that has sent its whales looking for alternatives.
Sui (SUI) Faces Investor Exodus as Coldware (COLD) Gains Momentum
Sui (SUI) investors were initially optimistic after a 24% rebound to $3.36, following a major 80.14 million token unlock. However, the relief was short-lived as fears of further inflationary pressure and declining on-chain activity have left the network in a precarious position.
The problem lies in Sui (SUI)’s tokenomics, which has led to frequent price swings and unpredictable market movements. While the network remains a strong player in the Layer-1 blockchain race, it lacks a compelling use case beyond its core smart contract functionality. In contrast, Coldware (COLD) has successfully merged tokenization, DeFi, and decentralized physical infrastructure networks (DePIN), making it a more attractive investment for both short-term and long-term holders.
Ethena’s Institutional Pivot Fails to Deter Coldware’s Growth
Ethena (ENA) has been making aggressive moves in the financial sector, raising capital from Franklin Templeton, Polychain, and Pantera to launch a new blockchain tailored for traditional finance. Their vision is to create a regulated version of their decentralized stablecoin USDe, named iUSDe, to meet the growing demand for compliant, programmable digital assets.
However, the push towards institutional finance has alienated Ethena (ENA)’s core DeFi user base, which prefers open-source, permissionless financial tools. This shift has opened the door for Coldware (COLD) to dominate the broader tokenization sector, where its ability to blend traditional finance with blockchain innovation has become its defining advantage.
As Coldware (COLD) continues to onboard strategic partners and integrate real-world assets into its tokenized economy, it is clear that the future of Web3 belongs to those who understand both institutional finance and decentralized ecosystems—a balance that neither Sui (SUI) nor Ethena (ENA) have been able to strike.
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