Latest news with #SUISUI
Yahoo
5 hours ago
- Business
- Yahoo
SUI Surges 5% Before Erasing Gains Amid Crypto Volatility
SUI SUI, the native token of the layer-1 blockchain, broke out from consolidation, climbing from $3.27 to $3.39, showing 5.2% volatility range amid increased trading volume earlier on Tuesday. Geopolitical tensions and ongoing trade disputes between major economies are creating market uncertainty, with SUI's price action reflecting broader market sentiment. Recent price consolidation near $3.31 suggests accumulation phase completion, with higher lows forming a bullish structure despite minor pullbacks. Global trade disputes and economic policy shifts are creating ripples across cryptocurrency markets, with SUI experiencing notable price action as investors navigate uncertain waters. The token's recent breakout from a consolidation phase demonstrates resilience amid broader market volatility, with support levels forming at $3.29-$3.30 after previously acting as resistance. Meanwhile, Sui Network's technological advancements continue to attract attention, with its focus on scalability and Web3 integration positioning it uniquely within the blockchain ecosystem. Technical Analysis SUI exhibited a notable 5.2% volatility range ($0.17) over the 24-hour period. Key resistance established at $3.37-$3.39 backed by above-average volume of 14.6 million. Support levels formed at $3.29-$3.30, which previously acted as resistance before being breached. Price action suggests accumulation phase completion with higher lows forming a bullish structure. The token erased some of its gains during U.S. morning hours, trading at $3.30 at press time. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
24-05-2025
- Business
- Yahoo
Crypto Market Sees $300M Liquidations as Trump Tariff Threats Flush Late Bulls
Crypto traders betting on a steady bitcoin BTC rally got a sharp reminder of headline risk from Donald Trump's latest tariff threats. Over $300 million worth of leveraged derivatives positions were liquidated across centralized exchanges in the past four hours, according to CoinGlass data, as crypto prices plunged following the news. Nearly all liquidations came from long positions—traders betting on higher prices. BTC longs accounted for $107 million of the total, while Ethereum's ether ETH followed with close to $87 million. Other tokens, including Solana's SOL SOL, dogecoin DOGE, and SUI SUI saw liquidations ranging between $10 million and $18 million. "Nice aggregate flush of long leverage and de-risk selling from spot," well-followed crypto trader Skew noted in an X post early Friday. "All driven by headlines once again." The sell-off came after Trump proposed a 50% tariff on imports from the European Union starting next month, along with a 25% tariff on iPhones manufactured outside the U.S., reigniting fears of an escalating trade war. As a result, BTC and major altcoins such as Ether ETH, XRP XRP, and Cardano ADA fell 3% to 4%, while smaller-cap tokens like Uniswap UNI and SUI SUI dropped 5% to 7% over the past 24 hours. Crypto trader named James Wynn, who gained attention recently opening a $1.1 billion BTC long bet with 40x leverage on the Hyperliquid exchange, also slipped underwater on the massive position. Currently, the trader is sitting on $7.5 million of unrealized losses, and the position could be liquidated if BTC slips to $102,000, according to a screenshot shared on X. Interestingly, the long liquidations came amid a recent unusual tilt toward short positions in BTC derivatives despite record prices, CoinDesk reported on in to access your portfolio
