SUI Faces 7% Drop After Cetus Exploit and $206M Token Unlock, Recovery Plan in Motion

SUI is currently trading at $3.1836 on Binance, with a 24-hour trading volume between $1.04 billion and $1.46 billion, a market capitalization of approximately $10.22–$10.62 billion, and a 24-hour price decline of 7.19%. The recent price decline is primarily attributed to the aftermath of the $223 million exploit on the Cetus protocol, which led to market volatility despite the Sui community's decisive governance vote to approve a $162 million recovery plan and restore affected liquidity pools. While the network demonstrated resilience and strong validator support, the incident and scheduled unlocking of $206.33 million in SUI tokens in June 2024 have contributed to short-term downward pressure on the asset's price.