Huge $106M SUI Token Unlock: Growth Catalyst or Price Dump?

#SUÄ°
ITS+5.50%

  • About 64.19 million SUI tokens worth $106.5 million will be unlocked in two days.

  1. Despite previous supply pressure, SUI prices have risen more than 100% in the past month.

  2. Grayscale's SUI Trust has boosted investor confidence and helped drive up SUI prices.

The SUI token has been one of the best-performing crypto assets in the market in recent days, even before the ongoing Bitcoin-led rally began. However, SUI faces potential supply and selling pressure that could impact its upward trend.

Token Unlock data shows that about 64.19 million SUI tokens worth about $106.5 million will be unlocked on October 1. This release accounts for about 2.4% of the current SUI token supply in circulation.

The tokens that are unlocked will be allocated to Series A investors, who will receive $32.92 million; Series B investors, who will receive $32.07 million; and early investors, who will receive $17.16 million. The Mysten Labs Treasury will also receive $3.44 million, and $20.96 million will go to the public reserve.

Notably, the SUI project team last unlocked 64.19 million tokens on September 1st and will launch another round of the same amount in October.