Sui Network to Unlock 74 Million SUI Tokens Worth $267M
Sui Network to unlock 74 million SUI tokens on May 1, totaling approximately $267.88 million. Token unlocks often introduce price volatility, creating opportunities for both bulls and bears, according to market analysts.
Previous Unlock Events Show Mixed Outcomes
In October 2024, the release of 64 million SUI temporarily suppressed prices, but bullish momentum later returned. The launch of the Grayscale SUI Trust and a surge in Total Value Locked (TVL) contributed to the recovery. A similar scenario played out in September 2024, with an initial 20% drop followed by a steady rebound in the following months.
Token Distribution Raises Volatility Risks
Currently, about 61% of unlocked tokens are held by early investors from Series A and B funding rounds. These investors are known for realizing profits at strategic times. Meanwhile, 20% of the tokens are allocated for reserves and ecosystem development, aiming to support long-term growth.
Key Technical Levels for SUI/USDT
On the daily chart, SUI is hovering near the 1.618 Fibonacci extension level at $3.14 — a critical technical zone for trend continuation. Sustained bullish momentum could push prices toward resistance levels at $3.84 (2.618 extension) and $4.53 (3.618 extension).
Technical Indicators Remain Cautiously Optimistic
Technical indicators suggest a cautiously optimistic outlook. The MACD continues to expand with a positive signal, and the histogram shows strong green bars, reflecting ongoing buyer pressure.
