The Sui network, which has experienced rapid growth with a market capitalization of approximately $12 billion and over 50 million accounts, is facing challenges related to security and liquidity. Recently, a heist involving 6.27 million SUI tokens, valued at $29 million, was reported, with the tokens bridged to Ethereum and laundered through Tornado Cash. In addition, the upcoming week is expected to see substantial token unlocks, with SUI leading at $288.64 million, followed by Optimism (OP) at $49.31 million. A recent report indicated that SUI has already dumped 64.19 million tokens, worth $256 million, while a total of $790 million in token unlocks is anticipated, which could signal shifts in liquidity. Furthermore, Sui users will soon be able to perform internetless transactions via SMS, enhancing accessibility within the ecosystem. The platform's developments have sparked bullish sentiment among investors, with some suggesting that SUI is currently undervalued.
I think $SUI is underpriced rn. Next dips are for buying. https://t.co/HnPRkxnF2P
GEODNET will unlock ~5% of circulating supply, or 12.2M GEOD today. This unlock will occur monthly through May, before jumping to ~24M per month. GEOD is up 51% YTD. https://t.co/O8xpCREYrR
GEODNET will unlock ~5% of circulating supply, or 12.2M GEOD today. This unlock will occur monthly through May, before jumping to ~26M per month. GEOD is up 51% YTD. https://t.co/3kEBCullB4