SUI Token Faces 2.14% Drop as 44 Million Unlock Looms, Trading Volume Hits $800M

SUIUSDT is trading at 2.7498 on Binance, reflecting a 2.14% decline over the past 24 hours, with the price opening at 2.8100. The recent price decrease is primarily attributed to anticipation of the upcoming major token unlock on July 1, 2025, when 44 million SUI tokens (1.3% of circulating supply) will be released, contributing to increased volatility and cautious sentiment among traders. Additionally, SUI has experienced a pullback after a significant rally earlier in June, where the price surged to $4.30 before correcting downward, influenced by technical resistance and mixed broader market sentiment. Currently, SUI maintains a market capitalization near $9.4 billion, ranks among the top 20 cryptocurrencies globally, and records robust 24-hour trading volumes close to $800 million, highlighting its active trading environment and continued relevance in the Layer-1 blockchain sector.