SUI Token Surges 5.73% After 58M Unlock, On-Chain Activity and $201M Volume Fuel Rally

SUIUSDT experienced a 5.73% price increase over the last 24 hours, rising from 2.8205 to 2.9822 on Binance. This upward movement is primarily attributed to strong bullish sentiment following the recent unlocking of over 58 million SUI tokens, which increased the circulating supply but did not trigger a price decline as some anticipated. Instead, positive market momentum has been supported by notable growth in developer activity on the Sui network, robust on-chain metrics such as over $27 billion in token volume processed in June, and a stable total value locked above $2.2 billion. Increased trading activity, with SUI/USDT reporting a 24-hour volume of $201.28 million on Binance, further underscores heightened investor interest. Currently, SUI is trading at 2.9822 with significant trading volume and is among the top-performing cryptocurrencies by market capitalization.