Daily trading volume in SUI reaches an impressive $2.19 billion, while decentralized exchange (DEX) activity hits its highest mark for the year, coinciding with a drop in SUI's price.
In a surprising turn of events, the SUI token, a popular cryptocurrency, has seen a decline in its price over the past 24 hours, with a 10.41% drop to $3.50. This contrasts with the rising activity on its decentralized exchange (DEX), as the 24-hour trading volume of SUI has continued to increase, indicating high market liquidity.
Despite this decline, the weekly DEX volume of SUI experienced a slight decrease of 1.03%. However, the wider picture shows that participation has been increasing steadily over the last year. In comparison to early August 2024, current daily DEX volume for SUI is nearly nine times higher. DEX activity remains elevated, averaging above historical baselines.
The market cap of SUI currently stands at $12.12 billion, having decreased by 10.41% over the past 24 hours. The unlocked market cap of SUI is slightly higher at $12.34 billion. The cumulative volume over the past 30 days of SUI's DEX remains high at $14.036 billion, a decrease of 1.03% from the previous week.
The opposing metrics of market cap growth and volume growth form part of a broader pattern tracked throughout the year. This phenomenon is primarily due to the effects of a large token unlock event that increased selling pressure, despite rising user activity and capital inflows on the Sui network.
On August 1, 2025, the SUI token price declined by 10.41% to reach $3.50. At the same time, a significant token unlock event occurred, releasing 44 million additional SUI tokens into circulation—approximately 1.27% of total supply and raising the circulating supply. Such unlocks historically create price corrections of 5-10% due to increased selling pressure and liquidity overhang.
Despite the price decline, DEX activity across the SUI protocol continues to drive increased user transactions. On-chain metrics also showed rising daily active addresses and transactions, highlighting improved network activity. The consistent rise in DEX volume, even during bearish market conditions, aligns with broader engagement metrics observed across SUI's trading ecosystem.
In summary, while Sui's network activity and DeFi usage improve, the token's price drops largely reflect increased circulating supply and selling pressure from a major token unlock, temporarily outweighing strong on-chain fundamentals. The broader investor sentiment remains cautious due to fears of oversupply and volatility linked to the unlock event.
Despite the price drop, the daily DEX volume for SUI continues to increase, showcasing high market liquidity in cryptocurrency investing. Analyzing the network's on-chain metrics, there's a rising trend in daily active addresses and transactions, signifying improved technology-driven activity on the Sui protocol. Despite the ongoing decline, the market cap of SUI has stamped its presence in the top tiers of cryptocurrency finance, standing at $12.12 billion.
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