SUI Token Surges 6.16% as Protocol Relaunch, $30M Loan Drive Recovery After Cetus Exploit

SUIUSDT has experienced a 6.16% price increase over the last 24 hours, rising from 3.2288 to 3.4278 on Binance. This positive movement follows recent volatility driven by several key factors: the aftermath of the $223 million Cetus Protocol exploit on Sui, which initially pressured prices downward, is now being partially offset by the protocol’s relaunch and compensation plan, as well as a $30 million loan from the Sui Foundation to support recovery. Additional market attention is focused on the upcoming major token unlock in June 2025 and the introduction of new South Korean crypto regulations in July, both contributing to short-term uncertainty. Despite these challenges, SUI has shown resilience, supported by strong ecosystem growth, a 24-hour trading volume near $794 million, and a current market capitalization of approximately $11.7 billion. The price remains above the 200-day SMA, indicating a longer-term positive trend, but is still below the 50-day SMA, suggesting ongoing resistance at higher levels. Overall, the recent price uptick appears to be a reaction to stabilization efforts post-exploit and renewed investor interest in Sui’s DeFi ecosystem.