Sui in June 2025: Will the $3.4 Support Hold?

Sui faces token unlock pressure and market volatility, but ETFs and DeFi growth offer hope.

On June 2, 2025, Sui (SUI) is trading around $3.46, down 11% in the past 24 hours. This price drop is largely due to the unlocking of 58.35 million tokens worth $206 million, increasing selling pressure. Additionally, economic uncertainty from global trade tensions and tight Federal Reserve policies has impacted the crypto market. However, Sui’s growing DeFi ecosystem and ETF applications provide a positive mid-term outlook. Technical analysis indicates key support for SUI between $3.4 and $3.42. A break below this could push prices to $2.95 or even $2.48. Conversely, resistance at $3.72, if broken, could drive SUI to $4.5. Daily charts show a descending channel pattern, signaling selling pressure, but rising trading volume at lower levels suggests buyer interest. Sui’s layer-1 blockchain, built on the Move programming language, has gained popularity in DeFi due to its high speed and low fees. The total value locked (TVL) in Sui’s DeFi protocols has reached $1.2 billion, reflecting growing confidence. The Mysticeti hardfork in 2024 improved scalability, pushing daily transactions to 15 million. However, daily active addresses have dropped to 1.8 million from a March 2025 peak of 2.3 million, indicating a temporary decline in network activity. ETF applications from institutions like Canary Capital and 21Shares, which already offer Sui-based products in Europe, have drawn institutional interest. The estimated 60% chance of SEC approval for a spot Sui ETF could drive significant capital inflows. Additionally, the swift recovery of $223 million from the Cetus protocol hack in May 2025 has bolstered investor confidence in network security. Whale activity is notable, with some accumulating SUI, though occasional profit-taking sales contribute to short-term volatility. Rumors of a potential partnership with a major Asian financial platform could further boost adoption. However, June token unlocks and regulatory risks, such as the upcoming SEC conference on digital assets, could sustain downward pressure. Given these dynamics, Sui faces short-term challenges due to token unlocks and economic pressures. However, mid-term prospects are bullish, driven by DeFi growth, ETFs, and institutional adoption. Investors should monitor key support and resistance levels and macroeconomic developments. Ultimately, Sui’s high speed and efficiency in DeFi make it a standout crypto project. However, competition with blockchains like Solana and regulatory risks could pose long-term challenges.