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Sui Network's $SUI Surges 115% in September, Reaches $1.77 with $4.9 Billion Market Cap Amid Token Unlock

Sep 30, 2024, 05:31 AM

Sui Network's native token, $SUI, has experienced a significant surge, rising 115% in September to reach a five-month high of $1.77. This increase has pushed its market cap to over $4.9 billion. The trading volume for $SUI also saw a substantial rise, increasing by 164% to approximately $1.06 billion in 24 hours. Additionally, Sui Network achieved a milestone of $1 billion in Total Value Locked (TVL) in less than two years since its Mainnet launch. $SUI has surged over 100% this month, reaching its highest since April. The token now holds 0.21% dominance. However, the market is preparing for a significant token unlock, with $114.91 million worth of $SUI set to be released, adding 2.4% to its circulating supply, which could potentially lead to a sell-off event.