SUI Price Shows Mixed Signals Post $210M Token Unlock Despite Major Banking Partnership

SUI is currently trading at $3.84, marking a 2.31% decline over the past 24 hours as institutional partnerships compete with the effects of a significant token unlock. The Relative Strength Index stands at 55.18, indicating neutral momentum with potential for movement in either direction.

Market dynamics reflect a battle between positive developments and supply-side pressure. The August 8 announcement of a partnership with AMINA Bank, Switzerland's first globally regulated bank to offer sui custody and trading services, initially drove prices up by 8.7%. This institutional endorsement enhanced credibility but couldn't fully counterbalance the impact of the August 4 token unlock, which released 76.27 million SUI tokens worth approximately $210 million.

Technical analysis shows key resistance at $4.44, while the recent 23% drop from highs illustrates how tokenomics events can temporarily overshadow fundamental news. Additional support comes from Sui's integration with Google Cloud, announced on August 7, bringing AI capabilities to the platform.