SUI Drops 4.6% as Upcoming 44 Million Token Unlock Sparks Short-Term Market Caution

SUI is currently trading at $3.4383, down 4.64% over the past 24 hours, with a 24-hour opening price of $3.6055 and trading volume ranging between $875 million and $900 million, placing it at #12 by market capitalization at approximately $11.68 billion. The recent price decline is primarily attributed to the upcoming unlock of 44 million SUI tokens (about 1.32% of circulating supply) scheduled between May 26 and June 1, 2025, which has introduced short-term selling pressure and market caution. Despite strong institutional interest, rising DeFi activity, and high trading volumes, the imminent increase in token supply has outweighed bullish sentiment and contributed to the observed price drop.