news 
**Sui (SUI) Price: Token Supply to Increase by 2.03% in Upcoming Unlock**
The Sui (SUI) cryptocurrency is set to experience a significant event as $151 million worth of tokens unlock on April 1, representing a substantial 2.03% increase in its token supply. This development comes amid mixed signals from market indicators and contradictory ecosystem adoption trends.
**Token Unlock and Market Impact**
Historically, token unlocks have resulted in temporary price pullbacks due to increased supply and market uncertainty. With SUI trading at $2.32, traders will closely monitor the event’s impact on its value. Immediate resistance stands at $2.37, while support lies at $2.23. A breach above this level may lead to further upward momentum towards $2.64.
**Mixed Signals in Market Indicators**
Contrasting trends are emerging within SUI’s ecosystem. On one hand, decentralized exchange (DEX) trading volume has reached a staggering $5 billion, indicating active participation and growth. The stablecoin market capitalization within the SUI network has also grown significantly, from $370 million in December to $628 million as of March 31.
On the other hand, the total value locked (TVL) in SUI’s DeFi applications has dropped from its peak of $2.08 billion in January to approximately $1.2 billion at present. This decline coincides with a broader downturn in the cryptocurrency market.
**Recent Positive Developments**
Despite market uncertainty, positive developments may mitigate selling pressure and stabilize the asset’s value. Investment firm Canary Capital has filed a registration statement for an SUI-related exchange-traded fund (ETF), which could attract new investment capital to the network. Additionally, SUI recently surpassed 100 million accounts, demonstrating growing adoption of its blockchain.
**Short-Term Volatility Expected**
As the token unlock approaches, traders can expect short-term volatility as market participants react to the increased supply. If buyers maintain support at $2.23, SUI could potentially experience sideways consolidation around the $2.37 level before targeting $2.64 in the coming weeks.
Source: https://blockonomi.com/sui-sui-price-token-supply-to-increase-by-2-03-in-upcoming-unlock/
