- Sui Network is experiencing record growth in stablecoin liquidity, DeFi activity, and user adoption, outpacing major Layer-1 competitors despite lagging price performance.
- However, an upcoming $178 million token unlock on July 1 could trigger significant volatility and test the resilience of SUI’s current support levels.
Sui Network (SUI) has seen an explosion in on-chain activity and adoption in 2025, even as its price momentum has struggled to keep pace. The blockchain is outperforming many Layer-1 competitors in key metrics, especially in stablecoin market cap, where it leads with $1.13 billion, more than NEAR, Sei, Berachain, Polkadot, and Cardano combined.
However, as the network gears up for a major token unlock, questions arise about whether price action can sustain or if the market faces a correction.
Despite Sui’s underwhelming price growth in 2025, its ecosystem has continued to strengthen. Fast processing speeds, a thriving DeFi sector, and rising adoption have pushed the number of total user accounts to over 208.8 million as of mid-June, according to Sui Explorer.
Its DeFi activity is notable, with Bluefin, Momentum, and Navi among the top revenue-generating dApps in recent days, generating $77,000 in daily revenue. This steady rise in users and protocol income underscores strong network fundamentals, even if the SUI token itself is under pressure.
Currently trading around $3.06, SUI has been unable to reclaim the critical $3.50 resistance level, after facing rejection near $4.00 in May. Technical indicators suggest mixed momentum. The MACD histogram remains in negative territory and shows no clear bullish crossover, though a bullish divergence hints at a possible bounce.
Support at $2.80–$3.00 remains a key zone to watch. A drop below could push prices down to the $2.50 level, while any successful rebound might target $3.50 again.
Investor attention is now turning to the upcoming token unlocks. On July 1, Sui is set to release 58.35 million SUI tokens worth approximately $178.53 million, representing 0.58% of the total supply and 1.71% of its market cap. This unlock could introduce significant volatility and selling pressure. At the same time, Solana (SOL) is also facing unlock events totaling over $76 million, which could further impact broader market sentiment.
On-chain indicators present a cautiously optimistic view for SUI. The Balance of Power (BoP) index has climbed to 0.30, signaling short-term buyer strength, but the reading remains volatile. Price is currently hovering near the 0.382 Fibonacci retracement level at $3.0224. A failure to hold this zone may lead to further downside toward $2.85 or even the golden ratio at $2.69.
Sui Network is showcasing exceptional growth and user adoption, but the looming token unlock presents a real test for its price stability. As fundamentals remain strong, whether SUI can withstand the upcoming wave of supply will likely determine its next major move.