Sui (SUI) Price Drops 4% Amid Heavy Selling and Liquidations

The native token of the Sui blockchain, SUI, has experienced a price drop of 4% from its intraday high, with significant selling pressure and long position liquidations hitting the market.

Key Takeaways:

Price Volatility: SUI saw a notable price decline as a result of heavy selling volume.

Liquidations: The market downturn was exacerbated by the liquidation of long positions, as traders were forced to sell their holdings to cover margin calls.

Market Outlook: The article points to a bearish reversal, indicating that traders who were betting on a price increase were the primary casualties of the sell-off.