Key Points:
A higher quantity of these tokens is going to be released, according to the most recent Token Unlocks statistics. The sentiment of investors is currently quite debating whether to continue buying the tokens or not because, with the negative impact before the unlocks, the token price could fall further.
On July 3, 61,083,333.27 SUI will be unlocked, the tokens account for 0.611% of the total supply corresponding to $44,517,839 at the moment.
Sui currently has less than 10% of its tokens in circulation; unlocked tokens would be distributed to the Foundation and the Community Access Program.
Even so, the price of this token is at a disadvantage because of the sell-off in the market. Currently, the SUI price is above the Fib 50% level, which is the support confluence of the token. If the market still has positive signals from major coins like Bitcoin and Ethereum, this support level can hold.
The $0.5 price zone can be said to be an extremely dangerous price zone for the token because it has been tested once. If this last stop is broken, a panic sell is possible.
For now, low-risk investors can buy at the price at the $0.7-$0.72 support level, noting that we should cut our losses when the price falls through the $0.66 area as this is the Fib 23.6% level.
In terms of the long-term trend, SUI will not be preferred as its underperformance drop will not be more profitable than current DeFi tokens or meme coins.
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
Harold
Coincu News
Hashdex spot Ethereum ETF application has been withdrawn, with the reasons undisclosed.
Key Points: Mastercard Crypto Credential launched, making blockchain transactions simpler and more secure. It facilitates…
Austin, Texas, 29th May 2024, Chainwire
Merlin Chain has witnessed an unprecedented surge in BTC transfers over the past 45 days.
Gemini has announced that its Earn users received $2.18 billion worth of their digital assets…
In recent years, cryptocurrency-use in online casinos has skyrocketed. What was once a niche currency…
This website uses cookies.