Overview
- A $162 million token unlock on August 1 triggered selling pressure that, coupled with Bitcoin’s dominance rising to 61.4%, pushed SUI nearly 5% lower before it stabilized just above $3.50.
- Decentralized exchanges on Sui recorded a record $1.4 billion in July trading volume while total value locked remains near $2 billion, reflecting sustained network engagement.
- Mill City Ventures completed a $450 million private placement to establish a dedicated SUI treasury strategy and Switzerland’s AMINA Bank became the first regulated institution to support Sui trading and custody on August 5.
- The token recently broke out of a long-term symmetrical triangle and retested its VWAP at the $3.50 level, forming a classic bullish confirmation pattern.
- Social dominance peaked at 2.2%, retail long positions rose to 68.3% on Binance and liquidation levels clustered near current prices, creating a setup for a potential short squeeze.