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