SUI Token Drops 11.88% Amid High Binance Volume and Institutional Inflows After Monthly Surge

SUIUSDT experienced a notable price decline of 11.88% over the past 24 hours, dropping from 1.7833 to 1.5715 USDT on Binance. This decrease appears to be driven by short-term market volatility following a period of sideways trading, as well as broader underperformance relative to the wider cryptocurrency market despite recent positive developments in the Sui ecosystem, such as the Mysticeti v2 upgrade and significant institutional inflows. Increased trading volume, with Binance reporting over $120 million for the SUI/USDT pair, indicates heightened market activity and possible profit-taking by traders after recent monthly gains of over 28%. SUI remains among the top 30 cryptocurrencies by market capitalization, with circulating supply estimates between 2.8 and 3.8 billion tokens and total value locked exceeding $1 billion.