In the last 30 days, Sui has seen a 15.5% decrease, attributed to poor market sentiment. After unlocking 44 million SUI tokens valued at 120 million USD, further selling pressure is likely, raising concerns of a decline to a support level of 2.30 USD.
With Sui’s total supply reaching 3.45 billion and over 5.22 billion tokens yet to be unlocked, traders are cautious. The drop in Open Interest indicates waning interest, suggesting investors may not expect a sustainable price rally.
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