- $103.3M in SUI tokens will unlock on Nov 1, adding 1.21% to supply
- SUI DEX volume rose to $23B in October despite falling TVL and price
- SUI stablecoin market cap dropped 19% this week to $932 million
SUI is approaching a key price level between $2.10 and $1.80 as the market awaits a $103 million token unlock. Traders are watching closely after a similar setup led to a strong rally in the past, with some eyeing a potential target above $20.
Price Activity Suggests Possible Rebound
SUI is trading within a support range between $2.10 and $1.80, as shared by trader Crypto Patel on social media. In past market behavior, similar liquidity grabs in this zone triggered strong upward movements, leading to speculation that history might repeat.
The current chart setup shows SUI consolidating below a resistance area. If price breaks above that zone, some analysts are targeting a long-term level of $20.
Currently, technical indicators are showing mixed signals. The 10-day EMA sits at $2.48, acting as resistance, while the RSI is near 36.9, indicating a nearly oversold condition.
Token Unlock Expected to Add Selling Pressure
Tokenomist data indicates that 43.96 million SUI tokens, valued at approximately $103.3 million, will be unlocked on November 1. This accounts for 1.21% of the circulating supply. Only 36% of the full SUI token supply is currently unlocked. These scheduled releases often increase short-term selling pressure, especially when momentum is weak.
On-chain data shows that SUI’s network activity is slowing. According to DeFiLlama, the total value locked has decreased by 4.2% over the last 24 hours to $1.74 billion. This is the lowest level recorded since July. Meanwhile, the stablecoin market cap on Sui has fallen by 19% over the past week to $932 million, suggesting lower liquidity for borrowing and trading.
DEX Volume Grows While Institutions Watch Closely
Despite weaker network metrics, SUI’s decentralized exchange (DEX) activity has increased. Monthly volume rose from $13.6 billion in September to $23 billion in October. This trend indicates continued trader engagement on the platform, even during bearish market conditions.
Longer-term developments are underway that could boost SUI’s use case. New stablecoins, such as suiUSDe and USDi, are expected to launch in Q4 2025 through partnerships with Ethena Labs and BlackRock’s BUIDL fund. These launches could improve liquidity and utility on the network.
Institutional interest is also building. Grayscale has created a SUI Trust, while Franklin Templeton has filed for a spot SUI ETF. Venture capital firm a16z is also expanding exposure to Sui, signaling growing interest from major investors.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
