SUI Token Holds Strong After 117M Unlock, Trading Volume Surges Despite 3.5% Price Dip

SUIUSDT experienced a 3.51% price decline over the past 24 hours, with the current price at 2.9081 USDT according to Binance data. The recent price movement follows the July 1 token unlock, which increased circulating supply by 1.3% and introduced 117.47 million new SUI tokens into the market, contributing to increased volatility and short-term selling pressure. Despite initial concerns of a sell-off, the price demonstrated some resilience, supported by strong developer activity, continued ecosystem growth, and institutional interest, including Lion Group Holding Ltd.'s $600 million treasury strategy involving SUI. Trading volume remained high, ranging from $579.88 million to over $1.54 billion in the last 24 hours, while SUI’s market capitalization is approximately $9.92 billion to $10.00 billion, with a circulating supply of about 3.46 to 3.5 billion tokens.