Latest news with #SuiNetwork
Yahoo
12 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.
Business Mayor
26-05-2025
- Business
- Business Mayor
3.3 Billion Dollars About To Flood The Crypto Market
21h05 ▪ 3 min read ▪ by Fenelon L. The month of June promises to be less eventful than May on the crypto unlocking front. According to Tokenomist, 3.3 billion dollars worth of tokens will be released in June, a decrease of 32% compared to May's 4.9 billion. Could this wave of liquidity disrupt the market's fragile balance? 3.3 billion dollars in crypto will flood the markets in June Crypto projects often lock their tokens for months or years. This practice, called 'vesting,' prevents early investors and teams from selling everything at once. The goal? To avoid sharp price drops before the project matures. June will see the maturity of several of these lock-up periods. The breakdown reveals a balanced strategy: 1.4 billion dollars via 'cliff unlocks' (massive immediate release) 1.9 billion dollars on a progressive, staggered schedule over time This approach limits liquidity shocks while giving projects the funds they need for development. Sui Network kicks off on June 1 with 44 million tokens released, around 160 million dollars. This Layer 1 blockchain already shows an impressive record: 3.3 billion tokens unlocked out of a total 12 billion, representing 33% of its total supply. However, 5.22 billion tokens remain pending without a precise schedule. The distribution of Sui funds revolves around several strategic goals: 70 million dollars for Series B investors Rewards for development teams Funding of Mysten Labs' treasury Top-up of the community reserve Metars Genesis hits hard on June 21 with 193 million dollars. This NFT project will finance an artificial intelligence partnership. Since March, it has regularly released 10 million per month, totaling nearly one billion to date. Other players complete the picture: Fasttoken: 20 million tokens (88 million dollars) for founders LayerZero: 25 million tokens (71 million dollars) for contributors Aptos: 11.31 million tokens (61 million dollars) distributed among teams, foundation, and investors ZKsync: over 760 million tokens (49 million dollars) for teams These June 2025 unlocks come in a particular context. The FTX case, with its planned 5 billion reimbursements by the end of May, could energize the ecosystem. Former platform clients, who are recovering 61% of their funds blocked since November 2022, now have fresh liquidity to reinvest. Maximize your Cointribune experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits. Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
Crypto Insight
23-05-2025
- Automotive
- Crypto Insight
Carmaker DeLorean tokenizes EV reservations on Sui
DeLorean launched an onchain reservation system and non-fungible token (NFT) marketplace for its upcoming electric vehicle launch, introducing a new blockchain-based approach for reserving and reselling cars. According to DeLorean, its Build Slot NFT collection grants holders priority access to purchase DeLorean's upcoming electric car, Alpha 5 EV. The model is the carmaker's first vehicle in over 40 years, inspired by the iconic flux capacitor from the movie Back to the Future. The company created an exclusive marketplace for its NFT holders, in which users can buy or trade the NFTs using the USDC stablecoin on the Sui network and will be able to earn rewards. DeLorean says that each vehicle's history and performance data will be recorded onchain through the FLUX protocol, including key data such as battery health, maintenance records, accident history, and verified odometer readings. This detailed data makes it easier for auto enthusiasts to bid on or resell vehicles in the secondary market, the company said. 'Since DeLorean's emergence in the 1980s, the brand has stood as a symbol of vision, rebellion, and futuristic innovation,' according to Cameron Wynne, the chief brand officer at DeLorean. 'By using blockchain technology, we're setting a new standard for the automotive industry,' Wynne said. The NFT-based reservation system and the tokenization of an electric vehicle signal DeLorean's interest in digital assets. The company is also the first carmaker to introduce a utility token, the DeLorean ($DMC) token. Luxury brands exploring blockchain, NFTs NFTs are becoming digital passports for luxury goods, linking to full lifecycle benefits such as reservation, maintenance, resale, and membership services. By tokenizing luxury products using NFTs, brands can enhance their technological appeal while reinforcing a sense of scarcity and community value. Global fashion brand Louis Vuitton ventured into NFTs in 2023, offering NFT holders exclusive access to certain products like a $6,400 digital mini trunk, a $9,000 bag and a varsity jacket worth around $8,400. LVMH Group launched the blockchain-based AURA platform, where luxury items are represented as unique NFTs containing information such as the origin of raw materials, production date and maintenance history. Source:
Yahoo
25-04-2025
- Business
- Yahoo
Bitcoin Traders Target $95K in Near Term; SUI Continues Multiday Rally
Crypto majors were little changed over the past 24 hours as markets settled from a rally, and then profit-taking from earlier in the week. Bitcoin (BTC) traded above $93,000 in Asian morning hours Friday, with traders pointing to increased optimism of short-term gains. 'With BTC holding firmly above $90K, sentiment is becoming increasingly optimistic,' QCP Capital said in a Telegram broadcast. 'Call options at $95K strikes for end-April and end-May expiries have dominated flow, pointing to a tactical appetite for further upside.' Call options are contracts giving the buyer the right to purchase an asset at a set price before a deadline. A flurry of call option buying activity indicates traders are betting bitcoin's price will exceed $95,000 by late April or May — a tradeable signal for retail traders. 'Still, with macro risks temporarily subdued and trade tensions cooling, BTC is likely to consolidate in a narrow $90K–$94.5K range while awaiting a decisive push toward the elusive $100K mark,' the firm said, reiterating its tone of remaining 'cautious' as market sentiment hinges on macroeconomic factors. Among majors, XRP, BNB Chain's BNB stayed flat and Solana's SOL showed a 2% bump. Dogecoin (DOGE) and Cardano's ADA zoomed more than 4%, while shiba inu (SHIB) added 5%. The broad-based CoinDesk 20, a liquid index tracking the largest tokens by market capitalization, rose 1.2%. Outside of majors, Sui Network's SUI continued a multiday rally to bring weekly gains to over 62%. Catalysts include the ecosystem company xPortal, which is releasing a payment card that runs on the Mastercard network. Data from DefiLlama shows that the total value locked (TVL) on the Sui Network has exceeded $1.6 billion, an increase of over 9% in the past 24 hours. Additionally, the decentralized exchange (DEX) on the Sui Network has seen its 24-hour trading volume reach $599 million, showing a 35% growth compared to the previous week. Sign in to access your portfolio
