💠💠💠💠💠💠💠💠 SUI is not as scary as it's portrayed
A lot has been written about the Cetus hack, but let's take a look at the numbers and facts.
On the 4-hour candles we can see:
— The candle at the highs — volumes around 40k, roughly equal buys and sells
— The candle during the hack — explosive volume of 9 million, with 5.2 million going for sell and 3.8 million for buy
— The peak of sales occurred in the middle of the movement, and by the lows the buying activity is already increasing
— There are almost no sell limits, meaning large holders are not trying to exit the asset quickly
Conclusion: this is not LUNA, it's more similar to the ZK situation — strong short pressure, but there is active buying and support. There is no need to panic, let's carefully monitor the further movements.