SUI, the native token of the Sui Network, has entered a correction phase after failing to maintain its breakout above $4. The token is down nearly 20% from its monthly high of $4.14, currently trading at $3.32—recovering slightly from a recent low of $3.07. Over the past week, SUI has lost more than 7%, despite a modest 1.3% rebound in the last 24 hours.
The pullback follows SUI's brief rally in May 2025, when it crossed the key psychological resistance at $4. However, the rally was short-lived.
A major factor behind the decline is the recent $260 million exploit on the Cetus platform, which shook investor confidence and dragged the total value locked (TVL) on the Sui Network down from $2.13 billion to $1.75 billion, according to DeFiLlama.
Despite the setback, sentiment remains cautiously optimistic. Rumors of a potential spot ETF filing—led by 21Shares—and ongoing ecosystem development are keeping bulls interested.
Meanwhile, SUI continues to underperform compared to Bitcoin, Ethereum, and Solana, all of which have shown resilience during recent market volatility. Interestingly, memecoins like POPCAT and WIF have outpaced SUI with 14% and 16% gains respectively.
Key Highlights:
SUI drops nearly 20% from its monthly peak
Cetus hack and declining TVL trigger sell pressure
ETF speculation and ecosystem growth offer hope
SUI needs renewed momentum to break the downtrend
Disclaimer: This article is for educational purposes only and should not be considered financial advice. Cryptocurrency investments are subject to high market risks.
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