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Can SUI’s Token Unlock Bring Respite; Will AXS Follow?

Published 02/02/2024, 14:34
Updated 02/02/2024, 14:45
Can SUI’s Token Unlock Bring Respite; Will AXS Follow?
AXS/USD
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Coin Edition -

  • SUI’s would unlock 3.31% of its supply while a certain CEO dumped AXS.

  • SUI’s market setup showed indecisiveness, but it could repeat its 99% increase.

  • Despite AXS’ high exchange inflow, the price could climb to $7.50.

On the same day that Sui (SUI) is set to release 3.31% of its total supply into circulation, Axie Infinity (AXS) might experience a significant sell-off, recent reports showed. According to data from Token Unlocks, SUI’s upcoming unlock would be worth $60 million. This value represents 3.31% of its total supply.

Token unlocks refer to the release of previously-restricted cryptocurrencies into the market. Sometimes, this event leads to a price decline. Other times, the price of tokens jumps later.

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