SUI Token Drops 6% After 44 Million Unlock Despite $1.8B DeFi Surge and Strong Liquidity

SUIUSDT is currently trading at $2.5641 on Binance, reflecting a 6.11% decline over the past 24 hours from an open of $2.7309. The recent price drop is primarily attributed to increased market volatility following a significant token unlock that added 44 million SUI tokens to circulation, as well as broader market uncertainty and technical indicators signaling bearish momentum. Despite positive ecosystem developments—including a growing DeFi sector with $1.8 billion TVL and new token listings on major exchanges—short-term sentiment remains cautious, with technical signals such as a low RSI and bearish moving averages contributing to selling pressure. SUI maintains strong liquidity with over $1 billion in daily trading volume and a market cap of approximately $8.8 billion, ranking 13th among cryptocurrencies, but faces continued volatility in the near term.