There’s a new beast treading the grim plains of the cryptocurrency market, and its name is Layer-1 blockchain Sui. This poor creature-down a staggering 63.9% recently-wanders the bearish territories, with such a pitiful market journey that even a faint smell of optimism is hard to find 🐻.
As the year bids farewell and fireworks light up the skies, Sui is expected to encounter fresh wounds as bearish dominance appears more certain than ever, with supply likely to swell with additional capital inflow (oh joy). This looming menace, my friends, is right around the corner thanks to a colossal token unlock, or as the experts call it, the source of its upcoming misery.
Token unlock to weigh on SUI
More Sui tokens are on the loose, set to inject themselves into the circulation. DeFiLlama, acting like a thrifty accountant for crypto fanatics, reports a grand total of $80.41 million about to flood the market. That’s a mere 1.11% of Sui’s entire supply and a rather cheeky 1.48% of its circulating float. Imagine an elephant trying to sneak into a china shop-that’s the current situation.
This influx is likely to squeeze Sui like a weary traveller into a crowded minivan, pushing prices perilously lower from their already impressive benchmark of $1.41 at press time. The drama intensifies as early contributors, those early birds, are set to receive 0.25% of this supply, valued at a neat $12.58 million. While some commit to eternal holding patterns, others (yes, those others) scramble for the exits like it’s rush hour at Bletchley Park.
If a group of sellers synchronizes their departures with synchronized swimmers, the plunge could resemble a nosedive from a great height (in other words, very, very fast). Remarkably, Sui’s price action hasn’t fully felt the chill yet, having gained a mystical 3.45% over the past day. However, like a lukewarm cuppa, trading volume declined to $291.41 million, losing 8.99% in the process.
This falling volume amid rising prices often points to weak momentum-sort of like when you see someone attempt rise cobra pose after too many Aperol Spritzes. The upside? Well, sell-side actors are already exiting the stage. CoinGlass data, which functions like the casino’s slot manager, shows net outflows approaching a $5 million over weekend. The peak of selling occurred on the 27th of December, marking the first significant withdrawal in a long spell.
From a technical standpoint, Sui is staring at a crucial resistance level on the chart. Can it muster the strength to break free, or will it be sent fleeing to lower price depths? If it breaks free, chances exist for reclaiming the cherished $3.1 mark, nostalgically recalled as last seen on a sunny October 6 before a stock-market-esque liquidation thunder.
Building bullish pressure
But all is not lost! Despite the gloomy horizons, there are hints of bullish intrigue scattered here and there. On-chain figures display a rise in total value locked (TVL), which crawled up to $922.25 million in one day. Total inflows for this period came in at $24.8 million, a modest signal of wattage confidence, still present among the faithful believers.
Off-chain traders, much like the armchair quarters-backs of the finance world, voice their bullish bias through SUI/USDT perpetual contracts. CoinGlass, probably the same desk-bound mathematician mentioned in the previous paragraph, notes a rise in long-position volumes and a positive funding rate-a tempting invitation for those betting on Sui’s upward journey.
Ultimately, the near-term outlook for Sui hangs on the whims of the market’s directional bias as the token unlock looms. This is a crypto roulette, folks, and as the wheel spins, only time will unveil whether the upswings or downswings take the limelight.
Final Thoughts
- A monstrous token unlock looms over Sui, as it lurks near a crucial resistance level. Despair, or another cry for freedom, awaits.
- Spot investors, the brave souls saving by the skin of their teeth, have sold off $5 million, tightening the jalopy belts in a ritualistic market waltz.
Read More
- OP PREDICTION. OP cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- ALGO PREDICTION. ALGO cryptocurrency
- INJ PREDICTION. INJ cryptocurrency
- XRP Alert: Brad’s Swiss Secrets Could Blow Your Crypto Mind!
- GBP USD PREDICTION
- EUR CHF PREDICTION
- GBP EUR PREDICTION
- CNY RUB PREDICTION
- LTC PREDICTION. LTC cryptocurrency
2025-12-28 15:07