Sui, the native token of the Sui Network, fell 3.3% in the last 24 hours, falling from $ 3.32 to $ 3.21 as merchants reach the sales button.
The Token broke its support of $ 3.26 at the end of the session, a movement that confirmed the downward impulse and approached the asset to the psychological threshold of $ 3.20, found the technical analysis model of Coindesk Research.
The measure occurred when the broader cryptographic market, measured by the Coindesk 20 index, fell approximately 2% in the last 24 hours.
The volume data underlined the conviction of sale. The transactions shot well above the daily average of 6.9 million twice, which suggests coordinated departures from large holders.
The pressure occurs when Sui Corporation begins an unlocking of tokens of $ 143.9 million, releasing 44 million tokens between September 29 and October 6. This is one of the largest scheduled distributions in a week, which will see more than $ 773 million in cryptocurrency verification events. Similar unlocks of projects such as Ethena ($ 126.8 million), Eigen ($ 68.6 million) and optimism ($ 21.3 million) weigh on feeling throughout the sector.
For merchants, concern is double: technical weakness and new supply. Even if the demand remains stable, the additional supply can increase prices, which forces difficult assignment decisions.
With Altcoins widely under pressure, the next test for Sui will be if buyers defend the level of $ 3.20 or allow a more disadvantage as the unlocking cycle continues.
