SUI Token Down 37%, Nears $1 Billion in Volume Following Network Launch
But traders that got the token in at pre-sale and ICO prices, $0.03 and $0.10 respectively, are comfortably in the green.
Sui’s mainnet went live on Wednesday without a hitch, catapulting the layer-1 blockchain’s SUI token into the top 100 largest cryptocurrencies by market cap. Yet, some traders are undoubtedly seeing red as SUI slides on its first day.
Since SUI began trading this morning on crypto exchanges like Binance, OKX, KuCoin, and Bybit, the coin has fallen roughly 37% to $1.37 from $2.16, according to CoinGecko. Its market cap currently sits at $716 million, blowing past meme coins like PEPE.
