Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
SUI slides 20% as $4 rally reverses course

SUI slides 20% as $4 rally reverses course

Crypto.NewsCrypto.News2025/06/02 16:00
By:By Grace AbidemiEdited by Dorian Batycka

SUI, the native token of the Layer 1 blockchain Sui, has entered a period of steady decline after failing to sustain its recent rally above the $4 level.

After briefly breaking above the $4 mark in a May 2025 rally SUI ( SUI) has hit a rough patch in recent weeks struggling to maintain its upward momentum. Per recent price performance , the token is down over 7% over the past week, despite recording a modest 1.3% bounce in the last 24 hours.

SUI slides 20% as $4 rally reverses course image 0

SUI’s price movement| Source: crypto.news

Trading at $3.32 at press time, SUI’s price is a slight recovery from its low point of $3.07 in the ongoing corrective phase. The token’s value marks a steep 19.8% drop from its monthly high of $4.14 and an approximate 37% from its all-time high of $5.30. 

The downturn may be partly attributed to dampened sentiment across the ecosystem following the May Cetus exploit , which resulted in a loss of $260 million. The post-mortem jitters also triggered a decline in the total value locked (TVL) on the Sui network from $2.13 billion to the present $1.75 billion, according to DefiLlama data . 

Despite the pullback, optimism for SUI remains. This is fueled by continuous signs of growth across the broader ecosystem, as well as growing bullish whispers of a spot ETF spurred by recent filings from investment firms like 21Shares.

SUI’s recent dip mirrors a broader cooling across the crypto market, although BTC and major altcoins such as ETH and SOL have demonstrated stronger resistance amid the ongoing volatility. Memecoins including POPCAT and WIF defied the larger trend with more impressive gains, posting 14% and 16% respectively.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Black Myth: Wukong comes to Xbox exactly a year after launching on PC and PlayStation

Share link:In this post: Game Science announced that the Xbox version of Black Myth: Wukong will be released on August 20. The developer also said pre-orders for the Black Myth: Wukong Xbox version will open on June 18. Before the game’s launch last year, Game Science said it would not be released on Xbox at first launch.

Cryptopolitan2025/06/06 19:32

X chooses Polymarket as its official partner for prediction markets

Share link:In this post: X announced Polymarket will be integrated into the social media app, as an official partner for prediction markets. Polymarket rebuilt its user base to 300K monthly active wallets, with strong demand for predictions on current events and news. Integrating a prediction market may cause regional clashes with regulators due to local betting laws.

Cryptopolitan2025/06/06 19:32
X chooses Polymarket as its official partner for prediction markets