SUI Token Drops 10.7% Amid Volatility Despite ETF Filing and $10B Market Cap Strength

SUIUSDT experienced a sharp decline of approximately 10.7% over the past 24 hours, with the current price at $2.9939 on Binance, down from a 24h open of $3.3528. The recent price drop follows a period of heightened volatility and profit-taking after a strong rebound earlier in the week, which was driven by positive sentiment surrounding Nasdaq’s 19b-4 filing for the 21Shares U.S. Spot SUI ETF and ongoing institutional interest. While the ETF filing and recent mainnet upgrade to version v1.49.2 initially supported upward momentum and increased trading activity, short-term market uncertainty and broader volatility have contributed to the current pullback. SUI maintains a high market capitalization of around $10.13 billion, significant 24-hour trading volume between $1.43 billion and $1.74 billion, and ranks among the top 10–12 cryptocurrencies globally, reflecting ongoing strong liquidity and ecosystem activity despite recent price fluctuations.