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News

Shocking Decline In TURBOS And SUIA Token Prices: Is Sui Network In Trouble?

May 18, 2023 - Around 1 mins mins to read
TURBOS and SUIA on Sui Network experienced sharp declines, with official addresses selling tokens at listing, raising quality concerns. Previously, TURBOS announced that it would refund IDO users.
Shocking Decline In TURBOS And SUIA Token Prices: Is Sui Network In Trouble?

Recently, two ecological projects, TURBOS and SUIA, on the Sui Network experienced a sharp decline in their price. According to Wu Blockchain, some exchanges believe that the official addresses sold their tokens at the time of listing based on on-chain data. Both projects were endorsed by Jump and Sui officials, raising concerns about the quality of Sui’s ecological projects.

After the opening, TURBOS unlocked about 40% of its tokens. It later stated that it will refund users who participated in the IDO.

https://twitter.com/Turbos_finance/status/1658870647760748545

This is a developing story: We’ll update the situation as we learn more.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Thana

Coincu News

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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
News

Shocking Decline In TURBOS And SUIA Token Prices: Is Sui Network In Trouble?

TURBOS and SUIA on Sui Network experienced sharp declines, with official addresses selling tokens at listing, raising quality concerns. Previously, TURBOS announced that it would refund IDO users.
Shocking Decline In TURBOS And SUIA Token Prices: Is Sui Network In Trouble?

Recently, two ecological projects, TURBOS and SUIA, on the Sui Network experienced a sharp decline in their price. According to Wu Blockchain, some exchanges believe that the official addresses sold their tokens at the time of listing based on on-chain data. Both projects were endorsed by Jump and Sui officials, raising concerns about the quality of Sui’s ecological projects.

After the opening, TURBOS unlocked about 40% of its tokens. It later stated that it will refund users who participated in the IDO.

https://twitter.com/Turbos_finance/status/1658870647760748545

This is a developing story: We’ll update the situation as we learn more.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Thana

Coincu News

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