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SUI Token Braces for Volatility as $164M Token Unlock Looms
SUI Token Braces for Volatility as $164M Token Unlock Looms
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
The sui Network is preparing for potential market turbulence with a major token unlock event. On July 1, 58.35 million SUI tokens—valued at approximately $164.44 million—will be released into circulation, accounting for 1.72% of the token's total market cap. While such unlocks are standard in tokenomics, they often spark sell-off concerns due to sudden increases in supply.
SUI had recently demonstrated resilience with a 20% rally, testing the upper limit of its descending channel. However, this momentum is now waning as the token trades at $2.72, down 1.75% over the past 24 hours. Technical indicators suggest that a breakdown below its ascending trendline could lead to a 10%-12% drop, reflecting broader market unease.
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