SUI Token Drops 11% After ETF Surge: High Volatility Follows Nasdaq and Cetus DEX Events

SUIUSDT experienced a notable price decline of approximately 11% over the past 24 hours, with the current price at 2.9835 according to Binance. This drop follows a recent rebound driven by Nasdaq’s June 10, 2025 filing to list the 21Shares spot SUI ETF, which initially boosted institutional interest and market optimism. However, the price correction appears to be influenced by short-term profit-taking after the ETF-related surge, as well as ongoing market volatility and residual concerns from the May 22, 2025 security breach at Cetus DEX, despite the platform’s recovery and compensation efforts.

SUI remains a top 15 cryptocurrency by market capitalization, with high trading volume (over $960 million in the last 24 hours) and a total supply of 10 billion tokens. The asset continues to attract significant attention due to its ecosystem growth and institutional developments, but recent price action reflects broader sector volatility and sensitivity to news events.