SUI Recovers From Overnight Slump as ETF Filings Stir Institutional Interest
SUI surged back to $3.78 on Thursday after an overnight decline, buoyed by renewed optimism following two spot ETF proposals tied to the token.
The rebound followed a sharp 8% drop that saw SUI fall from $3.82 to $3.52 between late Wednesday and early Thursday. The token bottomed around 3 a.m. ET, coinciding with a spike in trading volume to 35.4 million—more than twice the 24-hour average—indicating heavy dip-buying, likely from institutional players.
The rally pushed SUI back near recent highs, though price action remains volatile. Market participants are now watching whether the $3.82 level, where sellers emerged earlier, will act as a ceiling in the short term.
The recovery was supported by key regulatory developments. On Wednesday, the U.S. Securities and Exchange Commission moved forward with its review of Canary Capital’s proposed SUI spot ETF, while 21Shares filed its own application for a similar product. These moves could open the door to broader adoption via regulated investment channels.
Still, traders remain cautious. According to CoinDesk Research’s technical models, SUI continues to trade within a consolidation range, and a break above $3.82 is needed to confirm upside momentum.
As of the latest data, SUI is down 0.42% over the past 24 hours, slightly outperforming the CoinDesk 20 Index, which declined 1%.
