SUI Token Drops 5.77% Amid Major Unlock, Strong Developer Growth and $600M Institutional Interest

SUIUSDT experienced a 5.77% decline over the past 24 hours, with the current price at 2.8836 according to Binance data. The recent price drop follows a period of heightened volatility, likely influenced by a major token unlock that increased the circulating supply, despite ongoing strong institutional interest highlighted by Lion Group Holding Ltd.’s $600 million crypto treasury strategy including SUI acquisitions. The market has also responded to robust developer growth and ecosystem expansion, with Sui reporting a 16% year-over-year increase in active developers and maintaining a top-five position among actively developed blockchains. Trading volume remains strong, ranging from $580 million to $1.23 billion in the last 24 hours, and SUI holds a market capitalization near $9.94 billion with a circulating supply of approximately 3.46 billion tokens. Despite the recent pullback, SUI continues to attract attention for its technological innovation and scalability, with investors monitoring key support and resistance levels amid ongoing market fluctuations.