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BitGo extended support for Sui ecosystem, adding custody for NS and DeepBook, and enhancing decentralized identity & trading services.
The cryptocurrency market is experiencing renewed bullish momentum, with Bitcoin recently surpassing the $65,000 mark. Despite minor corrections, many crypto coins are witnessing a surge in demand.
During Tuesday's U.S. market session, the Aptos price analysis shows a 5% jump to hit a 6% month high of $10.7. The uptick offers APT buyers the next stepping stone for a potential extended rally, fueled by a golden crossover between the 50- and 200-day exponential moving averages.
The Sui Foundation insists that no employees of the organization or its core contributors are involved in any SUI sales except as permitted by the supply schedule.
The network dismissed the claims as unfounded, but skepticism within the community persists.
The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.
The Sui Foundation has firmly denied recent speculation alleging insider trading following a $400 million sale of SUI tokens during the latest price surge. The foundation emphasized that there has been no premature selling or breach of lock-up agreements in an Oct. 14 post on X.
SUI has experienced a strong rally, but analysts warn of a potential correction ahead due to technical signals.
A Sui Foundation's “infrastructure partner” was spotted selling $400 million worth of SUI tokens, raising market concerns and speculation. The whale has now prepared another $20 million worth of SUI in the wallet used for the ongoing selling spree.
Over the past 24 hours, the SUI price has seemingly hit a wall amid significant $400 million insider trading allegations, shaking investor confidence in the asset.
The Sui token has experienced a dramatic rise, with its value soaring by over 120% in the last month and currently trading at $2.17 as of October 15. This impressive surge has sparked growing interest from investors but has also raised concerns about potential insider selling.
TL;DR Allegations and Denial: The Sui Foundation faces accusations of insider trading involving $400 million in SUI tokens, which they strongly deny, attributing the sales to an infrastructure partner's lockup schedule. Market Performance: Despite the controversy, SUI has surged over 185% in 2024, reaching a new all-time high of $2.
The Sui Foundation has denied allegations that insiders sold $400 million worth of SUI tokens during the cryptocurrency's recent price surge.
Layer 1 blockchain protocol Sui (SUI) has made headlines recently, recording an impressive 120% increase over the past 30 days, allowing the protocol's native token SUI to outperform the top 10 largest cryptocurrencies on the market, culminating in a new all-time high of $2.35 on October 13. However, since this peak, the token has retreated by nearly 5%, largely due to growing concerns over allegations of insider selling among the project's stakeholders.
Binance, one of the world's leading cryptocurrency exchanges, revealed enhanced trade offerings for the tokens Sui & Turbo on Tuesday. Notably, the exchange revealed that it is listing new trading pairs and trading bots services for the mentioned tokens, sparking investor enthusiasm globally.
The Sui Foundation has strongly denied allegations of insider selling after claims surfaced of a $400 million SUI token selloff by insiders. This had sparked widespread backlash within the cryptocurrency community.
Sui blockchain denies $400 million insider trading allegations following a rapid SUI token price surge, stating that no insiders sold tokens and suggesting the suspicious wallet belongs to an infrastructure partner under lockup.
With the crypto market taking a bullish reversal this week, Bitcoin momentarily topped the $66,000 mark. Amid the increasing bullish momentum, the SUI token marks a new all-time high at $2.3661. However, despite the bullish recovery this week, the lack of bullish exhaustion leads to a minor pullback in the altcoin.
The Sui Foundation has denied allegations that insiders sold $400 million worth of SUI tokens during the recent price surge, asserting that lockups are being properly enforced.
The digital assets industry turned green on Tuesday as Bitcoin jumped from $63,910 to a daily high above $66,400. Positive developments such as increased crypto recognition by US presidential candidates contribute to BTC's upward strength.
The SUI price has come under pressure following allegations of insider selling related to the Sui Foundation, despite a robust 104% rally over the past month. Recent scrutiny intensified when crypto analyst @lightcrypto highlighted suspicious wallet activity, indicating that wallets associated with the Foundation redeemed and transferred over 82.
Crypto Market Update: The crypto business has continued an uptrend, with its market cap increasing by 2.25% in 24 hours to $2.28 trillion. The positive sentiments have pushed the Fear & Greed index's reading to a neutral score of 56. As a result, the trading volumes have surged by 56.
The concerns point to allegations that insiders had taken advantage of SUI's rapid rise last month by selling $400 million worth of tokens.
Bitcoin displayed acute strength and reached highs above $66,000. This move made the market participants hopeful of the next price action, including the other altcoins. However, despite the sluggish BTC price action, the SUI price made huge rounds as it remained elevated.
