TLDR
- On April 1, 2025, a significant batch of 64.19 million SUI tokens, with a valuation of $151 million, is scheduled for release.
- Despite a dip in Total Value Locked from $2.08 billion to $1.2 billion, the monthly decentralized exchange trading volume has impressively hit the $5 billion mark.
- Trading currently at $2.32, SUI is sandwiched between a crucial resistance of $2.37 and a pivotal support level of $2.23.
- Since December, the SUI stablecoin market cap has witnessed an increase, growing from $370 million to a substantial $628 million.
- Canary Capital's recent ETF filing and the surpassing of 100 million accounts on the blockchain stand out as key positive developments.
Prepare for a significant moment for Sui (SUI) as April 1 draws near, releasing 64.19 million tokens worth roughly $151 million. This move equals 2.03% of its current supply, currently circulating at 3.17 billion tokens.
This unlock happens as SUI tilts at $2.32, syncing with its 20-day simple moving average, putting traders on high alert since token unlocks often spark volatility.
According to data from Tokenimist, With only 31.7% of SUI's maximum 10 billion tokens released so far, there's room for major future inflows in the realm of cryptocurrency.
In recent months, the SUI blockchain's signals have been a mix. Notably, monthly DEX trading volumes reached an impressive $5 billion, signifying vibrant activity.
Also on an upswing, SUI's stablecoin market saw its market cap ascend from $370 million in December to $628 million by the end of March 2025.
Despite some favorable indicators, a decline in SUI's total value locked remains apparent. According to DefiLlama, The highest point for TVL in January was at $2.08 billion, but it has since slipped back to about $1.2 billion.
This slump in TVL surfaces during a wider market downtrend, indicating a rather mixed investor sentiment due to the contrast between rising trade volumes and falling TVL.
Technical Analysis
Technical charts show SUI is encountering resistance at $2.37; breaking through could open the gates for resistance at $2.64 and another at $2.78.
On the downside, SUI The support line holds at $2.23. Should it fall through, the price might test the $2.00 threshold, especially if post-unlock selling pressure mounts.
Technical indicators paint a slightly bearish or neutral outlook, with the Relative Strength Index (RSI) pegged at 44.5, suggesting low buying vigor.
The Moving Average Convergence Divergence (MACD) still languishes in negative territory, hinting at enduring selling pressure on SUI in the near term.
Yet, with the Stochastic RSI nearing oversold zones, a short-term price jump post-unlock might be on the horizon.
A few promising strides might soften any selling blows. For instance, Canary Capital is pursuing a SUI-related exchange-traded fund (ETF) registration.
The SUI Reaching its 100 millionth account is a recent triumph for the blockchain, marking growing network uptake despite existing market vagaries.
If support at $2.23 holds, SUI might stabilize around the $2.37 zone before potentially pushing towards $2.64 in the upcoming weeks.
The anticipated token unlock could usher in notable short-term volatility, as increased supply meets the market. Historically, such unlock events lead to short-lived dips in cryptocurrency prices.
