SUI Faces 4.78% Drop as Cetus Protocol Hack Spurs $223M Loss and Market Volatility

SUI is currently trading at $3.4937 with a 24-hour volume of approximately $815.89 million to $1.97 billion, reflecting a 4.78% price decline from the previous day's open of $3.6689; the market capitalization stands between $11.68 billion and $12.14 billion, and the circulating supply is around 3.33 billion tokens. The recent price drop is primarily attributed to the security breach at the Cetus Protocol, SUI’s largest decentralized exchange, where over $223 million was drained in a hack; although $162 million of the stolen assets were frozen by Sui validators, this incident led to heightened market volatility and selling pressure, despite ongoing recovery efforts and robust trading activity.