SUI Token Slides 3% Amid Market Volatility, Yet Network Upgrades and DeFi Growth Signal Potential

SUIUSDT has experienced a 3.06% price decline over the past 24 hours, with the current price at 2.6385 (24h open: 2.7218), according to Binance data. The recent price pullback is primarily attributed to short-term profit-taking and broader market volatility, despite ongoing positive developments such as SUI's integration into Binance's 'Learn and Earn' program, the deployment of the Mysticeti consensus protocol reducing transaction finality to 390ms, and robust network activity nearly matching Ethereum's stablecoin transaction volume. Technical resistance near the $4.117 level and forecasts of potential further softening toward $2.00 by July 1, 2025, have also contributed to cautious sentiment and increased selling pressure.

SUI remains highly active, with a 24-hour trading volume of approximately $993 million and a market capitalization of around $8.9 billion, ranking #13 among cryptocurrencies. The asset shows short-term downside momentum but retains medium-term potential for volatility and recovery, supported by strong DeFi ecosystem growth and ongoing network upgrades.