Sui Token Unlock Could Impact Near-Term Price
This week, all eyes are on Sui, a Layer-1 blockchain, as it prepares for a major token unlock. On July 1, 5.22 billion SUI tokens, valued at over $154 million, will be released. This event, part of a monthly schedule extending to 2030, may influence SUI’s price. The unlock represents 1.63% of the total supply.
Meanwhile, Bitcoin (BTC) is near a potential breakout above $107,000, with ETF inflows nearing $50 billion. However, Sui is under scrutiny. The upcoming unlock could affect its price. The event is part of a recurring monthly release, set to continue until 2030. the token’s price is currently below its 50-day moving average, signaling a possible downward trend. Traders are cautious, with the price hovering near $2.The unlock could cause volatility.
Technical analysis shows SUI trading below its 50-day moving average, within a descending channel. This unlock could lead to price fluctuations. The market is
