Sui slides nearly 10% after massive staking lock
Sui fell about 10% from a $1.42 intraday high to $1.273 after SUI Group staked 108,728,129 tokens, removing roughly 2.7% of supply as the RSI cooled from overbought.
Sui dropped nearly 10% from Sunday’s intraday high of $1.42 to $1.273 as traders booked profits and technical momentum eased. The token traded about 4% lower over 24 hours at press time and remained close to its pullback from the peak. The Relative Strength Index fell from about 84.4 at the peak to roughly 75.94, moving off deeply overbought territory.
The decline followed a surge that saw Sui rise almost 40% over the prior week. A major factor in the rally was SUI Group Holdings expanding and staking its treasury position. The firm moved 108,728,129 SUI into staking, saying substantially all of those holdings are now staked at an estimated 1.8% yield. That action removed roughly 2.7% of circulating supply from liquid markets.
Broader market flows coincided with the pullback. Total cryptocurrency market capitalization fell about 0.33% over 24 hours, and an analyst noted roughly $680 million moved from Bitcoin and Ether into stablecoins as traders shifted to lower-risk assets. The analyst described the prior RSI reading as deeply overbought and said a cooldown was to be expected.
On-chain measures within the Sui network showed continued activity despite the price change. Total value locked rose to about $653 million from roughly $541.9 million at the start of May. Stablecoin supply on the network increased about 4.5% over the past week and decentralized exchange volumes climbed more than 200% over the same period. Social metrics tracked during the rally placed Sui’s social dominance between 0.13% and 0.15, below a 0.38 spike recorded on May 6.
Institutional and commercial developments in recent weeks included a planned launch of Sui futures by CME Group on May 29 and a partnership announced with Paga for cross-border payments in Africa. Sui remains roughly 76% below its all-time high and is trading below its early-2026 peaks, leaving the token down year-to-date. Scheduled monthly token unlocks remain on the calendar while large treasury staking has removed additional supply.
