SUI Token Slides 4.53% After $215M Unlock, Tests $3.00 Support Amid High Volatility

SUIUSDT experienced a 4.53% price decline over the past 24 hours, with the current price at 3.0643 according to Binance. The recent price drop is primarily attributed to increased sell-side pressure following a significant $215 million token unlock on June 1, 2025, and ongoing market volatility after a sharp 150% rally earlier in the month. Technical breakdowns below key support levels, including the 0.382 Fibonacci retracement at $3.11 and the $3.30 resistance, have further contributed to bearish sentiment. Despite strong network fundamentals and high trading volume (over $1.8 billion in the last 24 hours), SUI remains under pressure as the market absorbs the newly released supply and monitors critical support zones near $3.00. Overall, SUI ranks #12 by market cap, with a circulating supply of approximately 3.39 billion and a market cap of over $10.25 billion, reflecting continued high liquidity and trading activity amidst heightened volatility.