SUI Token Drops 4.5% Amid High Volatility, But TVL Surges Past $2 Billion on Binance

SUIUSDT is trading at 2.8521 on Binance, down 4.52% over the past 24 hours, following a period of increased volatility and high trading activity. The recent price decline can be attributed to mixed technical signals, including a bearish trend in moving averages and a cooling RSI, despite ongoing bullish sentiment from rising adoption, strong total value locked (TVL) growth (now over $2 billion), and increased ecosystem activity. Short-term caution is evident after SUI was rejected at higher resistance levels earlier in the week, but long-term outlook remains positive due to continued institutional interest, rapid transaction speeds from the Mysticeti consensus upgrade, and significant liquidity. SUI maintains high 24-hour trading volume (over $1 billion) and a market cap above $1.6 billion, reflecting sustained investor interest and sensitivity to broader market trends.