SUI Drops 4.5% Despite 40% TVL Surge and Major Institutional Investment

SUI token fell 4.5% over the past 24 hours, trading at $3.79, despite its blockchain network achieving a record Total Value Locked (TVL) of $2.28 billion, as reported by DeFiLlama [1]. The TVL has risen by roughly 40% since the start of the year, reflecting a strong rebound from its March low of $1.02 billion. This surge in locked value is attributed to increased developer activity and user participation across the Sui ecosystem.

A significant development in institutional interest has emerged as Mill City Ventures III announced a $450 million private placement, with nearly 98% of the funds allocated to SUI [1]. This represents one of the largest institutional investments in the token to date. Additionally, two ETF issuers, Canary Capital and 21Shares, have submitted applications to launch funds tracking SUI. These proposals are now in the review stage with the U.S. Securities and Exchange Commission, reinforcing long-term optimism for the token [1].

From a technical perspective, SUI remains above key exponential moving averages (EMAs), including the 20-day EMA of $3.77, suggesting that the long-term bullish trend is still intact [1]. However, the recent price decline indicates a cooling in short-term sentiment. The token’s last attempt to break above $4.40 failed, a level that has historically acted as a resistance. The Relative Strength Index (RSI) is currently at 53, signaling neutral momentum, with further upward movement likely contingent on a breakout above key resistance levels [1].

Despite the price pullback, SUI continues to exhibit strong underlying fundamentals, which are indicative of both technical stability and ecosystem growth. However, price movements may remain constrained until significant resistance levels are overcome in the near term. Investors are closely watching both institutional developments and technical indicators for signs of renewed upward momentum.

Source: [1] SUI Price Slips 4.5% Despite Record $2.28B TVL Growth in 2025 (https://coinmarketcap.com/community/articles/688b08ad3ea61016dbb21dfb/)