Friends in the crypto circle, gather quickly! Today I want to share a super heavy news with you, involving the Sui token. This is a significant event that cannot be ignored!
According to authoritative reports from Businesswire, the non-bank lending institution and financial company Mill City Ventures III, Ltd. (listed on NASDAQ under the code MCVT) has officially announced the successful signing of a securities purchase agreement. This was done through a private investment in public equity, buying and selling 83,025,830 shares of common stock at a price of $5.42 per share. The total revenue is estimated to be around $450 million (of course, this has deducted the placement agent fees and other issuance costs). The hedge fund Karatage is leading the investment, and the Sui Foundation is also quite supportive, directly providing an equivalent investment. If nothing unexpected happens, this issuance is likely to be completed by July 31, 2025. The key point is that the company plans to use about 98% of the net proceeds from the private placement to acquire the native token SUI of the Sui blockchain, with only about 2% of the funds used to support the company's short-term loan business, treating SUI as a primary financial reserve asset!
Speaking of which, I have to remind everyone. On August 1st at 8:00 AM, the Sui token will experience a large unlock of up to 44 million tokens, worth up to $194 million. Although having institutions participate in the Sui financial reserve plan seems like good news, we cannot rule out that some institutions might intentionally release this information to mitigate the negative impact of the large unlock. Therefore, everyone must maintain a rational mindset when facing this situation. If you plan to build a position in Sui, I suggest that you buy in batches at lower prices, which would be more prudent. The range of 3.8 - 3.5 might be a good entry price. However, if you are worried about missing the opportunity, you can initially lay out a little near 3.9, and then slowly enter the remaining funds after the price stabilizes. Of course, these suggestions are for reference only, and you should still make decisions based on your own judgment.
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