$SUI Approximately 31% increase after listing on NASDAQ $SUI The group moved 108.7m $SUI We’re moving into staking, tightening our float, which is already about 74% locked, and sending over $620 million in open interest.
$SUI ($SUI) It gained about 31% in the past 24 hours, trading at about $1.40, making it the biggest gainer of the day among the top 10 cryptocurrencies by market cap and the #1 trending coin on CoinGecko. The move follows a series of accumulations that helped fuel a classic short squeeze, with Sui already rising about 40% to around $1.41 on May 10, with about $3.13 million liquidated from shorts, about 90% of which, as one crypto.news article noted.
$SUIsupply shock and sudden increase in open interest
The catalyst this time is clearly on the supply side. $SUI Group Holdings, a Nasdaq-listed company trading under the ticker SUIG, disclosed on May 7 that it held 108,728,129 shares. $SUI Now, “substantially all” of that has moved to direct staking, representing about 2.7% of circulating supply. Previous analysis on MEXC describes the same change as a “supply shock load” and states: $SUIThe daily yield on that stake is approximately 5,200. $SUI Up nearly 1.8% annually, “volume confirmed the move” as the price broke through previous resistance around $1.08.
It’s important because $SUI It was already tightly locked. According to a study cited by Coinpedia, nearly 74% of the total $SUI Since supply is at stake, only thin float is available for active trading. Combining an additional 2.7% of the supply flowing out of the DeFi liquidity pool, CME Group recently launched $SUI Futures and $3 million $SUI The incentive program created what one analyst described as a “clear and rational backdrop” for the recent rally.
Brandt’s cry of “great rock bottom” and what history tells us
The technical background is now catching up to the on-chain story. Peter Brandt, a veteran trader known for his long track record in the commodity space and for causing the 2018 Bitcoin crash, made the call in an X-Post over the weekend. $SUIThe structure of is “big bottom”. “This is a big bottom. Prices should trend significantly higher from current levels,” Brandt wrote alongside the weekly chart, adding in a subsequent article: “This is his first bullish stance.” $SUIIt said the token is at a “significant trough” from which “the price could rise sharply.”
Brandt’s claims are consistent with several previous inflection points captured in crypto.news reporting. $SUIrallies often follow a combination of strong fundamentals and futures market positioning. The 2024 story reveals: $SUI Open interest hit an all-time high of $564 million, making it the top gainer, while another article said it hit a six-month peak and $USDC A surge in integration and on-chain activity.
At the same time, past episodes highlight that supply can affect both directions. In April 2025, a crypto.news report warned of $265 million in losses. $SUI Token unlocks (approximately 74 million tokens representing 2.28% of the circulating supply) could limit gains after a 61% week-to-week rally, reminding us that even if staking reduces immediate float, calendar unlocks are still important. But for now, about three-quarters of the supply has been invested, pushing Nasdaq-listed Treasuries up another $108.7 million. $SUI Shifting to long-term positions, open interest jumped from approximately $450 million to more than $620 million, and the market $SUI This is one of the most obvious high-beta moves in the next phase of the cryptocurrency cycle.
$SUIsupply shock and sudden increase in open interest
$SUI It gained about 31% in the past 24 hours, trading at about $1.40, making it the biggest gainer of the day among the top 10 cryptocurrencies by market cap and the #1 trending coin on CoinGecko. The move follows a series of accumulations that helped fuel a classic short squeeze, with Sui already rising about 40% to around $1.41 on May 10, with about $3.13 million liquidated from shorts, about 90% of which, as one crypto.news article noted.
The catalyst this time is clearly on the supply side. $SUI Group Holdings, a Nasdaq-listed company trading under the ticker SUIG, disclosed on May 7 that it held 108,728,129 shares. $SUI Now, “substantially all” of that has moved to direct staking, representing about 2.7% of circulating supply. Previous analysis on MEXC describes the same change as a “supply shock load” and states: $SUIThe daily yield on that stake is approximately 5,200. $SUI Up nearly 1.8% annually, “volume confirmed the move” as the price broke through previous resistance around $1.08.
It’s important because $SUI It was already tightly locked. According to a study cited by Coinpedia, nearly 74% of the total $SUI Since supply is at stake, only thin float is available for active trading. Combining an additional 2.7% of the supply flowing out of the DeFi liquidity pool, CME Group recently launched $SUI Futures and $3 million $SUI The incentive program created what one analyst described as a “clear and rational backdrop” for the recent rally.
Brandt’s cry of “great rock bottom” and what history tells us
The technical background is now catching up to the on-chain story. Peter Brandt, a veteran trader known for his long track record in the commodity space and for causing the 2018 Bitcoin crash, made the call in an X-Post over the weekend. $SUIThe structure of is “big bottom”. “This is a big bottom. Prices should trend significantly higher from current levels,” Brandt wrote alongside the weekly chart, adding in a subsequent article: “This is his first bullish stance.” $SUIIt said the token is at a “significant trough” from which “the price could rise sharply.”
Brandt’s claims are consistent with several previous inflection points captured in crypto.news reporting. $SUIrallies often follow a combination of strong fundamentals and futures market positioning. The 2024 story reveals: $SUI Open interest hit an all-time high of $564 million, making it the top gainer, while another article said it hit a six-month peak and $USDC A surge in integration and on-chain activity.
At the same time, past episodes highlight that supply can affect both directions. In April 2025, a crypto.news report warned of $265 million in losses. $SUI Token unlocks (approximately 74 million tokens representing 2.28% of the circulating supply) could limit gains after a 61% week-to-week rally, reminding us that even if staking reduces immediate float, calendar unlocks are still important. But for now, about three-quarters of the supply is at stake, pushing the Nasdaq-listed Treasury up another $108.7 million. $SUI Shifting to long-term positions, open interest jumped from approximately $450 million to more than $620 million, and the market $SUI This is one of the most obvious high-beta moves in the next phase of the cryptocurrency cycle.
