SUI Token Holds $2.78 on Binance Amid $1.1B Volume Despite Market-Driven 4% Dip

SUIUSDT is currently trading at approximately $2.78 on Binance, reflecting a 4.04% decline over the past 24 hours from a 24h open of $2.90. The recent price drop is primarily attributed to broader market volatility and sustained negative momentum, as reported across major crypto platforms, rather than any adverse project-specific developments. Despite Sui Foundation’s recent $51.3 million fund launch to support DeFi and DeepBook, and ongoing network growth such as the Mysticeti protocol upgrade and rising total value locked (TVL), these positive fundamentals have not offset the prevailing market correction. SUI maintains strong trading activity with a 24-hour volume exceeding $1.1 billion and ranks #12 by market cap at approximately $9.42 billion, but continues to trade near key support levels amid a cautious technical outlook.