SUI faces $9.76M token unlock on Aug 1 as $0.70 support tested

Sui will unlock 13.72 million tokens worth $9.76 million on Aug. 1, adding to supply as the token trades near a critical support level.

The unlock represents 0.34% of Sui's current released supply of 4.06 billion tokens, according to Token Unlocks data. Early contributors receive 7.65 million SUI, the community reserve gets 4 million, and Mysten Labs Treasury receives 2.07 million.

The release follows 22.6 million SUI unlocked across four events in the past 30 days. Despite the additional supply, SUI has held above $0.70, trading at $0.7193 as of 14:30 UTC, up 1.7% on the day. The token rebounded from that support to a local high of $0.7875 on July 21 before retracing.

Holding $0.70 preserves the broader recovery structure. Losing that level could expose $0.6492, while reclaiming $0.7875 would confirm buyers are regaining control. The project has completed 40.6% of its vesting schedule, leaving further releases ahead.

Spot volume drops to yearly low as selling pressure eases

Spot trading volume on Sui has fallen to 47.7 million, one of the lowest readings over the past year, Glassnode data shows. The decline suggests selling pressure is easing despite additional supply entering circulation. Exchange inflows and reserves have stayed relatively stable, indicating most newly released tokens are being held off exchanges. The low volume contrasts with activity on competing L1 blockchains such as Solana and Aptos, where spot trading has remained elevated.

Derivatives markets reflect balanced positioning. Open Interest sits near $495 million with neutral funding rates, Coinglass data shows. The relative strength index has cooled to 43.59 after approaching 60, reflecting fading momentum without showing capitulation. The MACD histogram has flattened, with the MACD and signal lines converging rather than producing a decisive bearish crossover.

Accumulation zone draws trader focus as long-term targets emerge

Some traders view the current price range as an accumulation zone. Crypto Patel described SUI as trading inside a tight range between $0.60 and $0.90 while forming higher lows, with upside targets at $5, $10, and $20 if the structure develops. Those levels remain long-term targets that depend on stronger market confirmation.

Sui Media pointed to a market-cap path that has followed its expected direction since March, with a test of the $2 billion level expected before any move toward $70 billion. Market cap targets depend on token price, circulating supply, and demand.

For now, SUI remains range-bound between $0.60 and $0.90. A confirmed breakout above $0.7875 would bring higher targets back into focus, while a loss of $0.70 would shift the bias lower.

This article is for informational purposes only and does not constitute investment advice.