SUI Drops 11% After Cetus Protocol Recovery Vote and Mysticeti Upgrade Amid $220M Exploit Fallout

SUI is currently trading at $3.1042 on Binance, reflecting an 11.27% decline over the past 24 hours, with strong trading activity and a market capitalization of approximately $10.35–$10.46 billion, ranking it 10th among cryptocurrencies. The recent price drop follows the Sui network's major governance vote approving recovery actions for the Cetus protocol after a $220 million exploit, as well as the implementation of the Mysticeti upgrade to improve block confirmation speed; these events, combined with recent volatility and broader market sentiment, have contributed to increased trading volume and short-term price pressure.