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Event ends: August 9, 16:00 UTC
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Recently, the SUI Token market has welcomed an important unlocking event. Today, 44 million SUI Tokens worth approximately $194 million were unlocked, accounting for 1.27% of the Circulating Supply. More notably, tomorrow will see a larger scale unlocking, with an expected 56.91 million SUI Tokens to be unlocked, valued at $213.5 million, accounting for 1.65% of the Circulating Supply.
This series of large-scale unlocks undoubtedly puts some pressure on the market price of SUI, and is one of the important factors leading to the recent weak performance of SUI. The release of a large number of tokens increases market supply, which may create certain selling pressure in the short term.
However, in the long run, this large-scale unlocking may be part of the project team's strategic layout. Increasing market liquidity could lay the foundation for future price increases and provide more possibilities for project development.
In the current market situation, the price of SUI is around $3.4, which may provide investors with a relatively attractive entry opportunity. For investors who are optimistic about the long-term development of SUI, this may be a suitable time for a light position layout.
In the short term, SUI may face some fluctuations, but if the project develops smoothly, higher price levels are expected in the future. However, investors should also closely monitor the overall trends of the cryptocurrency market, especially the performance of Bitcoin, as it often influences the direction of the entire market.
Overall, this wave of unlocks for SUI has brought short-term market pressure, but it may also open up new opportunities for long-term development. Investors need to consider multiple factors, including the project's fundamentals, market sentiment, and personal risk tolerance, when making decisions.