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The native token of the Sui blockchain, SUI, recently hit an all-time low, dropping to $0.367, marking a 5.5% decrease in 24 hours. It is down 8.7% over the past week.
Bitcoin (CRYPTO: BTC) edged lower, with the cryptocurrency prices trading below the $28,400 level on Wednesday. Ethereum (CRYPTO: ETH), also fell slightly, trading below the key $1,600 mark this morning.
The SUI price has fallen since May and reached a new all-time low on October 18.
SUI fell to a new all-time low on Wednesday following supply manipulation allegations, which the Sui Foundation denies.
SUI, a prominent blockchain token, has plunged 9% amid allegations of market manipulation, drawing intense scrutiny from South Korea's financial watchdog. The precipitous drop follows remarks from Lee Bok-Hyeon, director of the Financial Supervisory Service, regarding a forthcoming inspection of the Sui team's practices.
Amid calls from regulators in South Korea that they would investigate manipulation claims around the SUI token, the project's Foundation has called the statements "materially false" and "unfounded."
Regulatory Scrutiny Amid Token Price Decline The token, SUI, connected to the blockchain system created by former Meta employees, saw a significant 9% decrease in its value. This decline happened because the director of South Korea's Financial Supervisory Service, Lee Bok-Hyeon, expressed concerns about potential manipulation of SUI token supply.
Sui Foundation denies SUI supply manipulation; commits to cooperation and transparency. No token sales since CAP distributions.
SUI, the native token of the blockchain that was built by former Meta (META) employees, has tumbled by 5% on Tuesday after the community raised concerns over whether the team had been selling staking rewards on Binance.
Sui Coin is facing a probe by the Financial Supervisory Service (FSS) for allegedly lying about its circulation volume and staking profits. Democratic Party lawmaker Min Byung-deok criticized the Joint Council of Digital Asset Exchanges (DAXA) for failing to take action against Sui Coin, which deceived stakeholders about its circulating supply.
In a remarkable turn of events, the Sui Foundation has unveiled its strategic decision to allocate an additional 40 million SUI tokens towards the development of its thriving ecosystem. This follows closely on the heels of the allocation of 117 million SUI tokens in the preceding week.
Binance's US arm is updating the way it lists crypto assets by giving traders advance notice when it is considering adding trading support for a new token. Binance.US says the new procedure aims to provide additional transparency to its listing process.
The Sui Foundation has redirected an additional 40 million SUI tokens towards ecosystem and community development, adding to the previous 117 million SUI, making a total of 157 million SUI. This reallocation aims to bolster the DeFi ecosystem of Sui Network, which has shown a significant uptick in total value locked, marking over 100% increase in the last two months.
Binance.US introduces a transparent pre-announcement strategy for potential asset listings, with Sui token currently under evaluation.
Binance.US has refined its digital asset listing procedure. The main objective here is crystal-clear transparency.
Key Points: Binance.US has revealed a significant update SUI digital assets, signaling a proactive approach toward enhancing transparency and user engagement.
A number of altcoins—including two Bitcoin forks—have faltered as markets sank today.
A Reddit analyst, Matth3w_95, has drawn attention to upcoming token releases that may significantly impact the token supplies of various Ethereum competitor networks.
The foundation, which oversees the Sui Network, a Layer 1 blockchain lauded for its impressive scalability, has redirected a whopping 117 million SUI tokens, currently worth $51,313,738, from external market makers. This reallocation aims to nurture the growth of Sui's community and support the development of various initiatives within its ecosystem.
The Sui Foundation has announced a $51.3 million ecosystem fund to expand its DeFi ecosystem.
Sui Foundation announces the reallocation of 117 million SUI tokens from external market makers to support the growth of its Layer 1 blockchain network, Sui. The move aims to bolster the network's DeFi ecosystem, which recently recorded its highest-ever total value locked (TVL) at approximately $37 million.
The Sui Foundation reallocates 117 million SUI Tokens from external market makers to accelerate ecosystem development and support growth initiatives, including decentralized applications and liquid staking protocols.
The Sui (SUI) Foundation has announced its latest initiative to strengthen its decentralized finance (DeFi) ecosystem, reclaiming 117 million SUI tokens worth $51.3 million from external market makers. The tokens will be redirected into various channels to support the growth of the Sui Network.
Sui Foundation has made a significant strategic move in the crypto world by announcing the Sui Foundation withdrawal of $117 million worth of SUI tokens from external market makers.
