SUI Plummets 23% After $210M Token Unlock – Signs of Recovery Emerge

SUI's price dropped sharply to $3.42 following a $210 million token unlock, which flooded the market and triggered a 23% sell-off. This unlock, one of Sui's largest liquidity events, occurred amid broader market uncertainty, intensifying the downward pressure.

Technical indicators now suggest potential stabilization. The RSI at 44.58 indicates the asset is moving out of oversold territory, while institutional support remains strong. Mill City Ventures has committed $500 million to expand its sui treasury strategy, signaling long-term confidence.

Despite the price decline, network fundamentals show resilience. Total Value Locked (TVL) surpassed $2.19 billion, reflecting continued ecosystem growth. Traders are monitoring for a possible technical rebound as selling pressure eases.