Sui (SUI) Token Unlock Scheduled for April 1, 2025

A major token unlock for Sui (SUI) is scheduled for April 1, with 64.19 million tokens worth approximately $151 million

A major token unlock event for Sui (SUI) is scheduled for April 1, with 64.19 million tokens set to enter circulation.

At current prices, this batch of tokens is worth approximately $151 million. The event will also increase SUI’s current circulating supply by 2.03%.

According to Tokenimist data, only 31.7% of SUI’s maximum supply of 10 billion tokens has been unlocked so far. This means that substantial future emissions are still expected for the cryptocurrency.

SUI Shows Mixed Signals Ahead of Token Unlock

The SUI blockchain has shown mixed signals in recent months. Monthly decentralized exchange (DEX) trading volume has reached $5 billion, demonstrating active trading within the ecosystem.

SUI’s stablecoin market has also shown growth, with the market capitalization increasing from $370 million in December to $628 million as of March 31, 2025.

However, despite these positive developments, SUI’s total value locked (TVL) has seen a drop. According to DefiLlama, TVL peaked at $2.08 billion in January but has since fallen to approximately $1.2 billion.

This decline in TVL has occurred during a broader downturn in the cryptocurrency market. The contrast between rising trading volume and falling TVL suggests mixed sentiment among investors.

SUI Faces Resistance at $2.37, Support at $2.23

Technical analysis shows that SUI faces immediate resistance at $2.37. If the price breaks above this level, the next resistance points are at $2.64 and $2.78.

On the downside, SUI finds support at $2.23. A break below this level could see the price test the $2.00 mark if selling pressure increases following the token unlock.

Technical indicators present a neutral to slightly bearish outlook. The Relative Strength Index (RSI) sits at 44.5, indicating weak buying interest in the market.

The Moving Average Convergence Divergence (MACD) remains in negative territory. This suggests continued selling pressure on SUI in the short term.

However, the Stochastic RSI is approaching oversold levels, which could signal a potential short-term bounce in price after the unlock event.

Some positive developments may help counter selling pressure. Investment firm Canary Capital has filed a registration statement for a SUI-related exchange-traded fund (ETF).

The SUI blockchain recently reached a milestone of over 100 million total accounts, indicating growing adoption of the network despite market uncertainties.

If buyers can maintain support at $2.23, SUI could see sideways consolidation around the $2.37 level before potentially moving higher toward $2.64 in the coming weeks.

The upcoming token unlock event will likely trigger short-term volatility as traders react to the increased supply. Past experience with cryptocurrency token unlocks suggests that this event could lead to temporary price pullbacks.