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SUI Faces 7.3% Price Drop Amid Institutional Backing and ETF Speculation
SUI Faces 7.3% Price Drop Amid Institutional Backing and ETF Speculation
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
SUI's price declined by 7.32% to $3.55, even as bullish institutional developments unfolded, including a partnership with Sygnum Bank and rumors of an ETF filing. The drop underscores market hesitancy and profit-taking following recent upward movements.
Sygnum Bank's comprehensive support for SUI—providing custody, trading, staking, and lending services—demonstrates strong institutional endorsement. Additionally, Mill City Ventures III revealed a $316 million sui position, signaling long-term conviction in the asset.
Technical indicators remain neutral, with a Daily RSI of 45.51. Despite solid fundamentals, trader caution persists, mirroring the broader volatility in the cryptocurrency market.
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