SUI traded near $0.69 on August 3 after rebounding from the $0.65 support level. The Sui Foundation continues its buyback programme funded by yields from its stablecoin ecosystem, which has generated approximately $2.2 million in revenue since the beginning of the year. Daily purchases average around $6,000, with the foundation acquiring 8,800 SUI on August 1 and 8,700 SUI on August 2. In total, approximately 317,500 SUI have been bought back, representing 0.008% of the 4.07 billion token circulating supply, but these tokens are reinvested into the ecosystem rather than destroyed. The direct market impact of this programme remains limited against $100 million in daily trading volume and unfavorable technical indicators, with CMF slightly negative at -0.04.
Source: Read the original article
