“The market isn’t panicking yet,” one trader commented, observing how SUI’s price stabilizes despite more tokens hitting circulation. Scheduled unlocks are expanding supply rapidly, yet the token continues to hover around its support level without sharp drops.
Come August 1, roughly 13.72 million SUI tokens valued near $9.76 million will become liquid, adding to 22.6 million that have already been released in the past month. These tokens primarily come from early contributors, community reserves, and Mysten Labs’ treasury. Although the project has cleared 40.6% of its vesting allotment, a significant number of tokens remain locked, which may bring further fluctuations down the line.
Price action so far shows investor caution rather than panic. SUI bounced back from a key $0.70 support zone, climbing close to $0.7875 before dropping slightly to about $0.7193, holding near a 1.7% daily gain. The decline has been measured, lacking the aggressive selloffs typical of bearish capitulation. Technicals reinforce this resilience: the RSI eased from near 60 to around 43.59, reflecting waning momentum but not a breakdown, while MACD indicators have flattened without triggering strong bearish signals. This makes $0.70 a key line; holding it keeps the recovery intact, but slipping below could threaten a move to $0.6492.
Meanwhile, derivatives and spot market data point to tempered trading activity. Spot volume has dropped to 47.7 million, one of the lowest levels this year, signaling lower selling pressure despite increasing supply. Exchange reserves remain steady, suggesting many newly unlocked tokens are being held rather than dumped. Open Interest around $495 million and neutral funding rates indicate balanced market bets. A sustained uptick in spot demand would be necessary for SUI to surpass $0.7875 and confirm bullish momentum, while lackluster demand might open the door for more declines.
