SUI's price has plunged by 63.9% as market sentiment turned bearish ahead of an $80.41 million token unlock. This unlock, accounting for 1.11% of the total supply, has raised fears of further price declines. Despite a temporary rebound, trading volumes and spot outflows are decreasing, with the total value locked (TVL) at $922.25 million and daily inflows around $24.8 million.
The derivatives market indicates an increase in long positions and positive funding rates, suggesting some investor optimism. However, early contributors are set to receive $12.58 million in tokens, potentially increasing selling pressure. In the past 48 hours, spot investors have withdrawn $5 million, reflecting a cautious market stance.
SUI Token Plummets 63.9% Amid $80M Unlock Concerns
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