Grayscale Research identifies Sui as a strong contender to challenge Ethereum's dominance in smart contracts.Sui can process high transaction volumes at minimal costs without additional scaling layers, unlike Ethereum.Sui has a fully diluted valuation of $25.9 billion and has rapidly accumulated $830 million in Total Value Locked (TVL) within a year.With growing adoption and efficient transaction model, Sui could become a major competitor to Ethereum, according to Grayscale.