The currency is experiencing $SUI
Currently fluctuating within a defined price range between $3.18 and $3.32, with a slight downward trend in recent hours. The current price stabilizes around $3.28, slightly down from the levels of the past two days.
Key influencing events
Funds recovery after the hack: The Cetus protocol successfully recovered $160 million of the $220 million that was hacked, and a conference will be held today (June 2) to discuss the details of the incident and the recovery plan.
Unlocking operations: SUI is expected to experience unlocks of tokens worth $150 million in the upcoming week, which may pressure the price.
Investor interest: Data shows that SUI ranks sixth on the list of the most traded cryptocurrencies this week with 99 signals.
Analytical market overview
Strong community support: Despite the security breach incident, the response of the SUI team and the Cetus protocol was swift and effective in recovering most of the funds, reflecting the strength of the project's infrastructure.
Short-term volatility: Fluctuation is likely to continue within a limited range in the coming days as investors await the results of the Cetus conference and the impact of unlock operations.
Trading indicators: Trading volume has seen a relative decline in recent hours (about 34,831 units) compared to the average of the past two days, indicating that traders are waiting for more clarity.
Summary
Despite recent security challenges, $SUI shows resilience in maintaining relatively stable price levels. Investors are closely monitoring how the project handles the aftermath of the hack and the impact of upcoming unlock operations. The short-term trend appears volatile with potential limited downward movement if selling pressure increases with unlocking, but community support and rapid recovery may limit any significant decline.
The information mentioned above has been researched and summarized through personal effort and does not constitute investment advice.
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