SUI Slumps 3% as $144M Unlock Sparks Selloff

by

Markets

What to know:

  • SUI slid from $3.32 to $3.21, breaking the stubborn fence at $3.26 as selling gathered like a gathered crowd at a county fair. 🤠💨
  • A $143.9 million token unlock, releasing 44 million tokens this week, adds to the weight on prices, like a wet shoe on a dry day. 💧👞
  • Over $773 million in scheduled token unlocks across projects weigh on altcoin sentiment, as if the sun forgot to shine and the coins forgot to hover. 🌞🪙

SUI, the native coin of the Sui network, slipped 3.3% in the last day, sliding from 3.32 to 3.21 as traders pressed the exit lever with a shrug and a sigh. 😬

The token cracked through its 3.26 support late in the session, a sign of downward gravity and a reminder that numbers have teeth. The model from CoinDesk Research put the 3.20 threshold in the sights, like a weathered old compass pointing true north but not always guiding. 🧭

The move rode the same wind that rattled the broader crypto market, the CoinDesk 20 Index, which fell about 2% over the past 24 hours. 🐎💨

Volume tells the tale-the trades spiked well above the daily average of 6.9 million on two occasions, hints of big holders slipping away like cats from a dog show. 🐱🐶

The pressure grows as SUI Corporation unleashes a $143.9 million token unlock, releasing 44 million tokens between Sept. 29 and Oct. 6. One of the largest weekly distributions in recent memory, it promises more than $773 million in vesting events. Similar unlocks from Ethena ($126.8 million), Eigen ($68.6 million), and Optimism ($21.3 million) echo through the market, like distant thunder on a hot afternoon. ⚡💰

For traders, the concern is twofold: technical weakness and fresh supply. Even if demand holds steady, the extra supply can press prices lower, forcing hard decisions about where the bread goes. 🍞🧭

With altcoins under pressure all around, the next test for SUI is whether buyers will defend the $3.20 level or let the road slide further as the unlock cycle continues. Will someone stand on the ridge, or will the coins roll downhill like a tired wagon? 🚶‍♂️🪨

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2025-09-30 22:07