Sui’s price is once again feeling the heat, sliding under the $4 mark as traders brace for a wave of new tokens hitting the market.
At the time of writing, SUI is trading around $3.67, down 4.6% in the last 24 hours. That puts it roughly 16% below July’s high of $4.30 and a steep 32% off its all-time high of $5.30.
The drop isn’t just about a cooling crypto market though that’s part of it. Bitcoin, Solana, XRP, and other major tokens are also taking a breather after last weekend’s rally. But Sui has been under extra pressure since August 1, when it went through its largest token unlock to date a $162 million release that added 1.3% of its total supply into circulation in one shot.
This isn’t a one-off event. Sui’s tokenomics include a long-term schedule releasing over 55 million tokens every month until 2030, creating a constant flow of fresh supply. As traders know, more supply often equals more selling pressure especially in a consolidating market.
📉 The Market’s Reaction
Since the big unlock, Sui’s open interest has dropped 15% over the past week, and funding rates have plunged from 0.075% in July to just 0.0083%, according to Coinglass. Even though SUI is still up about 5% for the month, sentiment has clearly cooled.
And things could get bumpier. Data from Tokenomist shows daily unlocks worth over $1 million each are lined up for the next seven days. Combine that with other large token releases from projects like Solana (SOL), Worldcoin (WLD), and Dogecoin (DOGE), and the supply squeeze becomes real.
⚖️ Short-Term Pain, Long-Term Hope?
Right now, the short-term picture looks shaky. More tokens flooding the market could push Sui’s price lower, especially if traders keep taking profits and closing leveraged positions.
Still, not everyone is bearish. Technical analyst Ali Martinez recently spotted an inverse head and shoulders pattern forming on SUI’s chart a setup that could point to a bullish breakout above $4.45 if buyers step in.
Institutional interest is also quietly building. This month, Nasdaq-listed Mill City Capital committed roughly $316 million to a SUI-focused treasury strategy, signaling strong long-term conviction in the project.
Bottom line: In the near term, Sui’s price is battling heavy selling pressure from upcoming token unlocks and a softening market. But if big buyers return and technical patterns play out, the $4 mark might not stay out of reach for long.
