The price of the native SUI token fell by 3.3% to $3.21, breaking the support level of $3.26 amid an overall decline in the cryptocurrency market. A notable feature of this sell-off was the sharp increase in volume, exceeding the average daily level, coinciding with SUI's plan to unlock tokens worth $143.9 million, under which 44 million tokens were issued as of October 6. Companies such as Ethena, Eigen, and Optimism also conducted similar unlockings totaling over $216 million, creating pressure on the entire industry, and traders are watching the psychological level of $3.20 in case of further decline.
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The price of the native SUI token fell by 3.3% to $3.21, breaking the support level of $3.26 amid an overall decline in the cryptocurrency market. A notable feature of this sell-off was the sharp increase in volume, exceeding the average daily level, coinciding with SUI's plan to unlock tokens worth $143.9 million, under which 44 million tokens were issued as of October 6. Companies such as Ethena, Eigen, and Optimism also conducted similar unlockings totaling over $216 million, creating pressure on the entire industry, and traders are watching the psychological level of $3.20 in case of further decline.