SUI traded near $0.68 on August 1 as roughly 13.72 million tokens unlocked on schedule, worth about $9.9 million. A prominent trader called the current range a buy zone with targets as high as $20, even as the token slipped alongside a broader pullback across crypto markets.
SUI traded near $0.68 on August 1 as about 13.72 million tokens, worth roughly $9.9 million, unlocked on schedule, while a prominent trader called the current price range a setup for a run toward $20. The release adds pressure to a token that has fallen more than 5% over the past several trading sessions.
Traders Call the Range a Buy Zone
Trader CryptoPatel argued the recent range represents a high-timeframe accumulation structure rather than a warning sign, pointing to an entry zone between $0.50 and $0.70 with price targets of $5, $10 and eventually $20, calling the pattern "too clean to ignore". SUI's actual price of $0.68 sits inside that stated entry zone.
Still, the broader backdrop looks less clean than the chart pattern alone suggests. SUI has fallen more than 5% over the past several sessions as total crypto market capitalization slipped roughly 2.3% and altcoin market cap dropped nearly 2%. Meanwhile, social sentiment readings for SUI have turned mildly bearish, and short-term traders have flipped cautious around the $0.71 to $0.73 support band.
Unlock Split Across Three Groups
The August 1 release split 4 million tokens to the community reserve, 7.65 million to early contributors, and 2.07 million to the Mysten Labs treasury, together worth about 0.34% of SUI's circulating supply. Bitcoin.com News had flagged the release in a July 29 report, noting it was part of a broader $81 million weekly token unlock wave topped by artist-token platform Audiera (BEAT).
Unlike BEAT's cliff-style release, however, Sui distributes tokens through continuous daily vesting, a design analysts say tends to spread out selling pressure rather than dumping supply on a single day, the way cliff unlocks for tokens like EigenLayer's EIGEN or Kite AI's KITE can.
Network Activity Outpaces the Price
Abu Dhabi-based Mubadala Capital launched a $75 million tokenized version of its private markets fund on July 23, live across Solana, Base and Sui, requiring a roughly $100,000 minimum buy-in from qualified investors. Sui has also seen a Hashi testnet launch aimed at institutional bitcoin collateral use cases, alongside continued rollout of fee-free stablecoin transfers.
No credible reports of a network outage, exploit or other protocol-level issue have surfaced, so this week's price softness traces back to unlock-driven supply and broader market conditions rather than any problem with the network itself.
Source: Bitcoin News
Trading involves risk.
Risk Disclaimer
