The SUI token, trading at $0.7799, fell 4.6% over 24 hours and more than 26% in one month, fueling expectations that a bottom may be near. According to the Sui community, a mass liquidation of longs below the $0.77 to $0.78 range could trigger a short-term bounce. Suiet’s announcement that it will end development and maintenance of its self-custodial wallet for the Sui blockchain contributed to the ecosystem’s total value locked falling from $510.9 million to $394.27 million in one month. More than $100 million in stablecoins nevertheless entered the Sui ecosystem, while clusters of short liquidations around $0.81 to $0.83 could fuel a future rally.
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