SUI Token Dips 4.28% After Bullish Surge: TVL Tops $2B, ETF Filing Spurs Interest

SUIUSDT experienced a 4.28% price decline over the past 24 hours, trading at 3.3315 USDT on Binance. The recent pullback comes after a strong bullish breakout earlier in the week, driven by positive developments such as Binance’s introduction of soft staking for SUI, the SUI ecosystem’s TVL surpassing $2 billion, and increased institutional interest including a SUI ETF filing and significant accumulation by Lion Group. Despite these bullish fundamentals and technical indicators—such as breaking above the 50-day SMA and an upward-trending 20-day EMA—short-term selling pressure has emerged, likely as traders take profits following the recent rally and amid a broader market cooldown. SUI maintains robust trading activity, with a 24-hour volume of approximately $1.49 billion and a market capitalization near $11.65 billion, ranking it as the 13th largest cryptocurrency by market cap.