SUI Faces 3.96% Drop as Cetus Protocol Exploit Sparks $223M Loss and Surging Volatility

Sui (SUI) is currently trading at $3.5175 with a 24-hour trading volume exceeding $815 million, ranking #12 by market capitalization, and has experienced a 3.96% price decline over the past 24 hours. The recent price drop is primarily attributed to the exploitation of the Cetus Protocol on the Sui blockchain, which resulted in approximately $223 million in losses and has led to increased market volatility and negative short-term sentiment, despite ongoing strong DeFi activity, high trading volumes, and continued institutional interest in the Sui ecosystem.