SUI Token Faces 2.14% Dip Amid Major Unlock Events, Strong DeFi Growth and $1B Volume

SUIUSDT is currently trading at 2.8327 on Binance, reflecting a 2.14% decline over the last 24 hours. The recent price decrease is primarily attributed to ongoing market volatility following the June 1 token unlock of 44 million SUI and anticipation of the upcoming July 1 unlock of 58 million SUI, both events increasing circulating supply and contributing to short-term selling pressure. Despite this, SUI maintains strong trading volume (24h volume ~$1.04 billion) and active user engagement, supported by continued growth in DeFi activity, rising total value locked, and recent technical upgrades such as the Mysticeti consensus protocol. SUI remains a closely watched asset with robust network fundamentals, though near-term price action is influenced by token unlock events and broader market sentiment.