SUI Token Faces 4.57% Drop After $215M Unlock, Consolidates Amid ETF Review and High Volume

SUIUSDT declined by 4.57% over the past 24 hours, with the price dropping from 3.4939 to 3.3344. This price decrease is primarily attributed to continued profit-taking following SUI’s recent rally to $4.30, as well as the impact of the June 1 token unlock that introduced $215 million worth of new tokens into circulation, increasing short-term selling pressure and volatility. Despite positive sentiment from institutional developments, such as the SEC’s review of Nasdaq’s 21Shares SUI ETF filing and ongoing digital asset fund inflows, technical indicators have turned more cautious, reflecting near-term consolidation. SUI currently trades at 3.3344 with a 24-hour trading volume between $929 million and $952 million, a market cap around $11.26 billion to $11.38 billion, and a circulating supply of approximately 3.09 to 3.4 billion tokens, consolidating in the $3.20 to $3.50 range as the market awaits further directional cues.