SUI Buyback Program Fails to Move the Needle Despite Growing Momentum

The Sui cryptocurrency has held its ground around $0.65 as its buyback program continues to gain momentum.

The Sui Foundation's stablecoin-funded initiative has generated approximately $2.2 million in revenue so far this year, with estimated rewards for the current month included.

The program uses yield from Sui's growing stablecoin ecosystem to purchase SUI on the open market, and recent buybacks have averaged around $6,000 per day.

Despite its growth, the Foundation has only acquired approximately 317,500 SUI since the program began, representing less than 0.008% of the network's circulating supply.