$265 Million Worth of SUI Tokens Set To Unlock For May 1

The SUI network is gearing up for a significant event this week as nearly 74 million tokens, estimated to be worth $265 million, are planned to unlock on May 1. This batch accounts for around 2.28% of SUI’s current circulating supply, and only around 33% of SUI’s total supply has been released so far, meaning this unlock may introduce fresh volatility into the market. Over the past month, the SUI network has seen impressive growth in decentralized finance (DeFi) activity, stablecoin issuance, and total value locked (TVL), positioning the platform as one of the fastest-expanding layer-1 networks of 2025. 

There is a recent price hike that has reflected growing investor interest in SUI, making it rally over 61% after breaking the resistance level and entering a strong uptrend. This momentum has been further fueled by rising developer activity on the network and SUI’s strategic partnership that aimed to strengthen the network’s utility. However, as the token unlock approaches, market participants are now weighing whether SUI fundamentals can support its recent gains or if it is just an influx of new tokens that could trigger a temporary pullback.

Strong Fundamentals Could Cushion the Impact

The SUI network has shown a sign of strength; according to the data of DefiLlama, the Total Value Locked (TVL) across SUI-based protocols has surged by around 40%. This growth is a significant indicator of the increased confidence and interest in the SUI blockchain and its DeFi ecosystem. Now the TVL has reached $1.735 billion, the daily decentralized exchange (DEX) volume has consistently hovered around $500 million, while total trading activity for the past 7 days has surpassed $3.6 billion. This has resulted in the fueling of volume beyond $11 billion, which clearly indicates the investors’ confidence that the market may absorb the upcoming supply without major disruptions. 

SUI Price Holds Firm Above Key Resistance

As of April 28, 2025, the SUI price is at $3.6799, marking a 3.42% increase in the past 24 hours. The SUI token recently broke through an important resistance level of $3.30 and continues to show bullish momentum. However, the relative strength index (RSI) reading of 78 suggests SUI appears overbought, raising the possibility of a short-term pullback.  

SUI/USD chart, published on Tradingview, April 28, 2025

SUI price momentum indicates, like the moving average convergence divergence (MACD), that it remains supportive of buyers. In fact, all major moving averages are aligned with a buy signal. If demand for the SUI token continues, SUI could climb toward the psychological resistance at $4.00, a level that may attract even more trading volume, creating positive sentiment for the SUI network and its token.  

Key Support Levels to Watch After the Unlock

While SUI token optimism remains, the upcoming token unlock introduces the risk that traders are carefully watching. If selling pressure mounts, the SUI price could retest support at $3.30; a deeper correction might find stronger footing around the $3.00 mark. This will align with the 10-day exponential moving average (EMA). Should the market successfully absorb the new supply, the SUI token could consolidate between $3.30 and $3.60 in the near term before determining its next major move. Overall, SUI price action in the near future will be a critical test of its underlying market strength. The SUI uptrend will depend on the strong on-chain fundamentals and its ability to sustain trading volume to create a sense of optimism, along with investor reaction to the upcoming $265 million unlock.

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