Token Supply to Increase by 2.03% in Upcoming Unlock
The post Token Supply to Increase by 2.03% in Upcoming Unlock appeared on BitcoinEthereumNews.com.
TLDR $151 million worth of SUI tokens (64.19 million) set to unlock on April 1, 2025 Monthly DEX trading volume reached $5 billion despite TVL dropping from $2.08B to $1.2B SUI currently trading at $2.32 with key resistance at $2.37 and support at $2.23 Stablecoin market cap in SUI ecosystem grew from $370M to $628M since December Positive developments include Canary Capital’s ETF filing and blockchain surpassing 100 million accounts A major token unlock for Sui (SUI) is scheduled for April 1, with 64.19 million tokens worth approximately $151 million set to enter circulation. This event represents 2.03% of SUI’s current circulating supply of 3.17 billion tokens. The unlock comes at a time when SUI trades at $2.32, aligned with its 20-day simple moving average. Traders are watching closely as token unlocks have historically led to price volatility in cryptocurrency markets. According to data from Tokenimist, only 31.7% of SUI’s maximum supply of 10 billion tokens has been unlocked so far. This indicates substantial future emissions are still expected for the cryptocurrency. The SUI blockchain has shown mixed signals in recent months. Monthly decentralized exchange (DEX) trading volume has reached $5 billion, demonstrating active trading within the ecosystem. SUI’s stablecoin market has shown growth as well. The market capitalization has increased from $370 million in December to $628 million as of March 31, 2025. Despite these positive indicators, SUI’s total value locked (TVL) has seen a drop. According to DefiLlama, TVL peaked at $2.08 billion in January but has since fallen to approximately $1.2 billion. This decline in TVL has occurred during a broader downturn in the cryptocurrency market. The contrast between rising trading volume and falling TVL suggests mixed sentiment among investors. Technical Analysis Technical analysis shows SUI faces immediate resistance at $2.37. If the price breaks above this…
Filed under: News - @ March 31, 2025 10:19 am