The funding rate remains positive despite the upcoming unlock event.is set to release 64.19 million tokens, valued at over $100 million, as part of a scheduled token unlock. This influx represents 2.32% of SUI’s circulating supply, sparking speculation on how this event may impact the token’s price.
SUI was trading around $1.69 at press time, showing signs of weakness from recent highs. The Relative Strength Index reflects this, standing at 41.96 and indicating a leaning towards bearish sentiment. If breached, it could lead to further declines toward the $1.50 mark, where buyer interest might strengthen.Historical patterns from previous unlocks indicate that such events can heighten market volatility as traders react to the sudden increase in supply.