According to ChainCatcher, Cointelegraph reported that the SUI token has risen by more than 120% in the past month. However, the recent gains have triggered allegations of insider selling.

Anonymous analyst Light said that wallets related to the SUI initial coin offering (ICO) have sold more than $400 million in tokens during this rise. Light said: "Insiders have started selling a large number of tokens at low prices and are accelerating their selling at current highs." This large-scale sell-off may put downward pressure on token prices.