SUI Token Surges 4.14% After Major Unlock, Defying Sell-Off Fears With Rising Developer Growth

SUIUSDT has experienced a 4.14% price increase in the last 24 hours, rising from 2.9063 to 3.0265 on Binance. This upward movement is primarily attributed to renewed market confidence following a major token unlock on July 2, 2025, which introduced 117.47 million new SUI tokens into circulation. Despite concerns that such an event could trigger a sell-off, SUI's price demonstrated resilience, supported by bullish technical patterns and strong trading volume. Additional contributing factors include a significant rise in developer activity—Sui's developer community grew by 16.1% over the past year—and increasing on-chain adoption, as evidenced by growth in active wallets and smart contract usage.

Currently, SUI trades at 3.0265 with a 24-hour trading volume of approximately $1.29 billion and a market cap near $10.5 billion, reflecting heightened market activity and interest following recent ecosystem developments.