SUI Price Is About To Collapse As Monumental $71M Unlock Set to Wreck Chart 

Dive into SUI Price as the Sui Foundation plans to unlock 71M worth of SUI tokens today. Investors are also considering 99BTC in the ongoing 99Bitcoins presale.

If Elon Musk decides to launch a crypto project today, it won’t be a surprise if it becomes a top-5 coin, flipping even the on-fire Solana and Dogecoin, the beloved coin the X owner loves.

This does not mean the current batch of crypto founders are not as gifted or popular or that their creations aren’t novel. If anything, they are some of the best in the world.

Take, for example, Vitalik Buterin, the co-founder of Ethereum, who was reportedly approached by Google for a senior position in the tech firm a while back.

Sui Network in Focus: Will Token Unlocks Fast-Track The SUI Price Drop?

In the case of Sui, the team largely comprised members from Meta, who spearhead the development of the Diem stablecoin, which didn’t launch after much hype.

However, their modular platform, Sui, has become one of the most popular after launching last year. Sui Network is scalable, fees are low, and, most importantly, plans to be interoperable with Ethereum. It also has a vibrant ecosystem, looking at the number of dapps launching.

Though it can’t be compared to Solana or even the BNB Chain in terms of activity, there is progress.

The problem is that the crypto community often tracks SUI’s performance when vetting.

And looking at SUI, there is nothing to smile about.

The last three months have been torrid.

After SUI peaked in March, prices plunged by 63% to spot rates. Though prices are stable when writing, there could be more losses.

(SUIUSDT)

This preview concerns the millions of SUI set for unlocking today and every other month through May 2030—yes, for the next six long years.

Today’s unlock threatens to unleash another wave of selling pressure, shredding bulls under aggressive SUI Price sell pressure.

The foundation will unlock 86.07 million SUI, valued at roughly $71 million, at spot rates.

Though a small percentage, roughly 12.63 million SUI, will go to the community, a big chunk will be distributed to Serie A and B investors, early contributors, staking subsidies, and the Treasury.

The problem is that SUI is fragile now, and rising supply will only strain prices.

$SUI (per request)

Still in strong downtrend. Multiple rejections at the 11ema. Failure to reclaim soon would likely see acceleration to the downside pic.twitter.com/yuslP6PU0P

— Nebraskangooner (@Nebraskangooner) July 2, 2024

Therefore, it won’t be surprising that some holders might decide to offload their coins as they anticipate a sell-off, worsening the decline.

99Bitcoins Presale On Investors’ Radar: Here’s Why

In this climate of uncertainty, some investors are exploring alternative opportunities, with 99Bitcoins emerging as a safe haven, especially considering the hugely successful 99BTC presale.

The 99BTC presale is offered by 99Bitcoins, a respected crypto media outlet that has been reporting quality crypto news and educating the masses for over ten years.

99Bitcoins is relaunching as a learn-to-earn (L2E) platform, rewarding those who expand their crypto knowledge with 99BTC. Over $2.5 million has been raised in the ongoing presale, pointing to strong community interest.

Each 99BTC is trading for just $0.00112.

Act fast; 99btc prices will increase in the next six days.

Those who hold 99BTC have access to exclusive features, including crypto trading signals, tools, educational resources, and more.

A 99Bitcoins staking program also distributes 99BTC at a 717% APY.

Although 99BTC exists as an ERC-20 token on Ethereum, it will transition to Bitcoin, deploying as a BRC-20 token. At the same time, the team will launch a DEX, further extending its utility.

For this reason, analysts are upbeat, saying 99BTC is currently a gem in the rough that can outperform SUI and even cement its place as a leader in the L2E scene.

Buy 99BTC Here

EXPLORE: Can A New Crypto Law Cause Delisting Of Over 600 Altcoins In South Korea?

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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