SUI Falls 5% on $162M Unlock; Bitcoin Dominance at 61.4%
On August 5, SUI price fell nearly 5% after a $162 million token unlock amplified selling pressure. The decline outpaced a 1.6% broader market drop as Bitcoin dominance rose to 61.4%, prompting capital rotation into safer assets. Month-to-date, SUI price has plunged over 20%, erasing $3 billion in market value. Trading volume slid 6.8% to $1.15 billion while Bitcoin volume jumped 8.2%, underscoring waning risk appetite. Despite solid fundamentals—total value locked near $2 billion and strong network activity—and growing institutional support from AMINA Bank’s custody services and Mill City Ventures’ $450 million SUI treasury, macro uncertainty and supply shocks are clouding SUI’s short-term outlook.
Bearish
The 5% drop following a $162 million token unlock and month-to-date 20% decline reflect intensified selling pressure and capital rotation into Bitcoin amid macro uncertainty. Lower trading volume and rising Bitcoin dominance signal reduced risk appetite. While strong TVL and institutional backing support long-term fundamentals, short-term supply shocks and market sentiment are likely to keep SUI price under pressure.