MCVT’s move is a pretty notable signal of confidence in SUI.
Here’s the breakdown:
New Purchase: 5,600,607 SUI at $3.65 average → roughly $20.44M spent.
Total Holdings: 81,871,794 SUI → about $316M at current market prices.
Implication: This makes MCVT one of the largest institutional holders of SUI, and the timing—during a relatively volatile period for altcoins—could suggest they see long-term upside.
Market Impact: A purchase of this size can provide price support, but it may also attract speculative interest from traders following institutional moves.
If you want, I can calculate exactly what percentage of SUI’s circulating supply MCVT now controls. That would give us a clearer picture of their market influence.