CandleFocus $100 Million SUI Token Unlock May Trigger Hotter-Than-Expected Rally
2024-09-30
Author: Content Editor
Sui (SUI), a layer-1 blockchain, will unlock 64 million tokens on October 1, representing 2.40% of the total circulating supply. Despite the volatility typically associated with token unlocks, SUI's price is predicted to remain stable or increase due to factors such as Grayscale's decision to launch the SUI Trust and the project's high Total Value Locked (TVL). The bullish trend is supported by the Bull Bear Power (BBP) indicator, showing that buyers are in control. SUI's price has increased by 5% in the last 24 hours, with a 122% increase in volume, suggesting a potential continued rally. The altcoin is approaching a historically crucial level at $1.90, and if it can surpass this resistance, its price may rise to $2.10. However, profit-taking could lead to a drop in value to $1.45.
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