SUI Drops 5.47% After Cetus Protocol Breach as $220M Lost and DeFi Activity Paused

Sui (SUI) is currently trading at $3.4251 with a 24-hour trading volume of approximately $865–$900 million, a market capitalization near $11.55–$11.65 billion, and a 24-hour price decline of 5.47%. The recent price drop is primarily attributable to the security breach on the Cetus Protocol, a major decentralized exchange on the Sui network, which resulted in $220–$260 million in losses and led to a temporary pause in DeFi activity and heightened market volatility. Although $163 million of the stolen funds were frozen, the incident has impacted market sentiment, contributing to the observed price decline. The upcoming unlock of 44 million SUI tokens on June 1, 2025, is also being monitored by market participants for potential further effects on price and liquidity.