The crypto market never sleeps ā and this week, Sui (SUI) is feeling the heat. š„ Over the past 7 days, SUI has dropped more than 14%, underperforming much of the market. Letās take a closer look at whatās dragging this promising token down. š
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šļø 1. SEC Delays ETF Decision
Investors had their hopes up for a SUI-based ETF by Canary Capital. š But the U.S. SEC has postponed the decision until July 24, 2025. For many traders, ETFs represent mainstream legitimacy and potential inflows of institutional money ā so delays = disappointment. šš¼
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š§Ø 2. Cetus Protocol Exploit
To make matters worse, the Cetus DeFi protocol, which operates on the Sui network, was recently exploited, leading to a reported loss of $223 million. šøš This incident has raised serious concerns about the security of the Sui ecosystem, shaking investor confidence. šØ
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š 3. Bearish Technical Signals
Technically speaking, things donāt look great either:
SUI is trading below its 10- and 20-day moving averages š
RSI sits at 39, showing weak buying momentum š¬
These signs point to ongoing bearish pressure in the short term.
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š 4. Macro Uncertainty Weighs In
Beyond crypto, global economic uncertainties and regulatory pressure continue to cast a shadow over the market. š«ļø High inflation, interest rate concerns, and increasing scrutiny on digital assets are keeping many investors on the sidelines. š§āāļøš¼
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š” A Glimmer of Hope?
Despite the drop, thereās a silver lining ā Suiās Total Value Locked (TVL) has actually increased slightly, hitting $1.75 billion. This means people are still putting their money into Suiās DeFi projects. šļøš° Could this signal long-term faith in the network?
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šØ Final Thoughts
Suiās 14% drop reflects both internal risks and external pressures. From ETF delays to DeFi exploits, itās a stormy week for SUI holders. āļø However, the projectās growing TVL and ongoing development may provide a foundation for recovery ā if the turbulence calms.
Watch the charts. Watch the news. And always DYOR (Do Your Own Research)! š§ š
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