SUI Token Drops 7.49% Amid Market Volatility Despite Grayscale Trust and Ecosystem Growth

SUIUSDT experienced a 7.49% decline over the past 24 hours, with the price dropping from 4.0614 to 3.7574, primarily driven by increased market volatility and technical pressures following a rejection at higher resistance levels near $4.24. The recent downturn is attributed to bearish momentum after failing to sustain gains above key resistance, despite ongoing network activity, stable gas fees, and recent ecosystem developments such as the Sui MPC Network airdrop, the launch of SuiHub Lagos, and Grayscale's introduction of a SUI Trust.

Currently, SUIUSDT trades at 3.7574 with a 24-hour trading volume of approximately $2.29 billion, reflecting robust activity; the asset remains among the top cryptocurrencies by market capitalization, though it has faced notable short-term price volatility after a period of strong weekly growth.