SUI Drops 3.96% After Cetus Protocol Hack Despite 73% Monthly Surge and $3.55B Volume

SUI has experienced significant market activity in the past 24 hours, with the current price at $3.8632, down 3.96% from the previous day’s open of $4.0225. Trading volume remains robust at $3.55 billion, and the market capitalization stands at $13.04 billion, reflecting SUI’s position among major altcoins. Despite the recent daily decline, SUI has shown strong performance over the past month, gaining over 73%, and is up 245.72% year-over-year.

The recent price decrease is primarily attributed to the security breach at Cetus Protocol, the largest decentralized exchange on the Sui network, which resulted in an estimated $223 million exploit on May 22, 2025. This event led to a sharp drop in token prices on the platform and negatively impacted market sentiment, causing SUI to dip after a period of strong upward momentum. Prior to this incident, SUI had demonstrated resilience and growth, supported by ecosystem developments, trading competitions, and increased total value locked. However, the Cetus Protocol hack has introduced short-term volatility, contributing directly to the observed price decline in the last 24 hours.