Sui Denies SUI Supply Manipulation Amidst 30% Price Drop

Key Points:

• Sui Foundation denies SUI supply manipulation and emphasizes cooperation and transparency.
• No token sales have occurred after the initial Community Access Program distributions.
• The price of the SUI token has decreased by approximately 30% since early October 2023, with a 10% decrease in the last 24 hours.

Sui Foundation denies SUI supply manipulation; commits to cooperation and transparency. No token sales since CAP distributions. Price decreased by 30% since October 2023, 10% in 24 hours.

Sui Foundation has denied all accusations of manipulating the supply of SUI tokens from the Korean Financial Authority. They emphasize their commitment to cooperation with DAXA and its member exchanges, following full compliance and transparency.

The Foundation addresses the inaccuracies and false statements regarding the SUI token supply, stating that there has never been any sale of tokens by the Foundation after the initial Community Access Program distributions. They assert the accuracy of the circulating supply schedule displayed on their public website and available through public API endpoints.

Sui Foundation Denies SUI Supply Manipulation Amidst 30% Decrease

However, CoinMarketCap data indicated that the price of the SUI token has decreased by approximately 30% since early October 2023, with a 10% decrease in the last 24 hours.

The Foundation highlights that they have never liquidated any SUI tokens, including staking rewards, apart from the mentioned distributions. They emphasize that every transfer of SUI tokens by the Foundation is publicly visible and verifiable on the blockchain.

The Foundation has consistently and transparently communicated the schedule for the SUI token circulating supply. They are actively combating disinformation and fear, reassuring the community that they will keep them informed of their efforts.

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.