SUI fell 9.1% to $2.29 on Thursday as traders reacted to concerns over a $147 million token unlock scheduled for November, triggering a wave of selling pressure.
The decline accelerated after the token lost support at $2.41, setting off a cascade of stop-loss orders and pushing trading volume 160% above average. During early morning trading, SUI slid from $2.51 to as low as $2.27 before stabilizing. Despite the drop, the network’s Momentum DEX reached $26 billion in total trading volume — an 8.3% increase from the previous week — highlighting ongoing ecosystem activity even amid market volatility.
Adding to the week’s developments, the SUI Foundation announced that Electronic Arts co-founder Bing Gordon has joined as a strategic advisor to boost its Web3 gaming ambitions. Still, fears surrounding November’s token unlock continue to weigh on sentiment. Support is forming around $2.27–$2.29, with resistance at $2.41 and $2.59 above that.
Source: CoinMarketCap.
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