The Impact of $151 Million SUI Unlock on Price

28-04-2025
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Sui is about to face a major supply unlock event, with 64.19 million SUI tokens worth approximately $148.29 million scheduled to be released on April 1. This has raised concerns about increased selling pressure and a negative impact on SUI price.

According to data from Tokenimist, the number of tokens to be unlocked represents about 2.03% of the current circulating supply, equivalent to 3.17 billion SUI. However, SUI's maximum total supply is 10 billion tokens, and only 31.7% of them have been unlocked, suggesting that there will be more issuances in the future.

Sui Ecosystem Performance

Sui's decentralized finance (DeFi) ecosystem continues to see notable movements. Trading volume on decentralized exchanges (DEX) for the month reached $5 billion. In addition, the stablecoin market capitalization on Sui has increased sharply from $370 million in December 2023 to $628 million by the end of March 2024.

However, amid the crypto market downturn, Sui's total value locked (TVL) has dropped sharply, from a peak of $2.08 billion in January to $1.2 billion according to DefiLlama data.

SUI Price Analysis

Currently, SUI is trading around $2.32, which is in line with the 20-day simple moving average (SMA). Important levels to watch include:

- Resistance: $2.37, followed by $2.64 and $2.78 if the rally continues.
- Support: $2.23, if broken, could drag the price down to $2.00.

Technical indicators show a neutral to slightly bearish trend:

- RSI: At 44.5, indicating weak buying pressure.

- MACD: Still in negative territory, reflecting continued dominance of selling pressure.

- Stochastic RSI: Approaching oversold territory, suggesting a short-term recovery.

After the token unlock, the market could see volatility as investors react to the increased supply. If buyers hold the $2.23 support, the price could consolidate and retest the $2.37 resistance. Conversely, if selling pressure is strong, SUI could fall to $2.00.

SUI Outlook in the Near Future

While the unlock event could put pressure on the price, positive factors from the ecosystem still create opportunities for recovery. Canary Capital’s investment in Sui and the number of accounts on the blockchain surpassing 100 million could boost investor sentiment.

If buying demand is strong enough to absorb the new supply, SUI could break $2.37 and test the $2.64 zone in the coming weeks. However, the price trend still depends on how the market reacts to the upcoming token unlock.