SUI Price Tumbles as Token Unlock Looms and Long-Term Downtrend Persists

The Sui cryptocurrency has been struggling in recent days, down 8.76% over the past week and 1.43% in the past 24 hours compared to Bitcoin's slight gain of 0.5%

Data from Coinalyze shows that the spot CVD for SUI has been declining over the past two days, with Open Interest also decreasing as prices fell from $0.72

The funding rate remained positive, indicating a bearish market sentiment in the short-term, but aggressive short selling has not yet commenced

A major challenge facing SUI holders is the upcoming token unlock of 13.72 million tokens worth $9.76 million on August 1, adding to the existing supply pressure and potential short-term selling

The long-term downtrend also persists, with only 40.6% of the vesting schedule complete, indicating more unlocks in the future