SUI Token Dips 2% as 58 Million Unlock Nears and ETF Decision Delayed—Trading Volume Remains Strong

SUIUSDT experienced a 2.07% price decline over the past 24 hours, with the current price at $2.8066 according to Binance. This downward movement can be attributed to recent market volatility, ongoing consolidation below key resistance levels, and anticipation of the upcoming unlock of 58 million SUI tokens (1.7% of circulating supply) scheduled for July 1, which may be contributing to cautious sentiment among traders. Additionally, broader market uncertainty and a recent delay in the SEC’s decision on the proposed Canary SUI ETF have weighed on price action. Despite the price dip, SUI maintains robust trading activity, with 24-hour volume between $1.04 and $1.15 billion, a market cap of approximately $9.65 billion, and a circulating supply of 3.39 billion SUI, positioning it among the top-15 cryptocurrencies by market valuation.