Sui (SUI) Scandalous Incident: $400 Million Worth of Insider Sales Alleged!

Scandalous incident in Sui (SUI): $400 million worth of insider sales claim!

Sui (SUI), which has been sweeping the market with its recent rises, has created fear with the claim of insider sales.
The Sui Foundation denied social media claims that insider sales were made during the recent price increase and stated on Monday that no activity took place from the foundation. The Foundation, which supports the Sui blockchain, said, “During this period, the Foundation, Mysten Labs employees or ML investors did not sell $400 million worth of tokens.”
Crypto analyst Lightcrypto claimed on Monday that “insiders” sold $400 million worth of tokens on X during SUI’s recent rise. Although it is not known who the wallets belong to, it was recorded that they collected tokens from the ICO (pre-sale). Lightcrypto expressed its surprise about the insider sales as follows: “The people who know the real value of $SUI are those who built this ecosystem. Now we see them selling.”
Although the toen price did not shake much with the development, investors were worried. Many discussions about the popular altcoin started on social media platforms. SUI, one of the most rising altcoins in recent days, does not seem to have lost its momentum yet. However, if Bitcoin's decline or negative news about the ecosystem continues, selling pressure may increase in the parity. In such a scenario, declines towards $2 may occur.
According to CoinMarketCap, Sui has increased by more than 100 percent in the last month. The popular altcoin is trading at $2.22 as of the writing of the news

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