{"id":549775,"date":"2023-09-01T20:00:07","date_gmt":"2023-09-01T20:00:07","guid":{"rendered":"https:\/\/wncen.com\/?p=549775"},"modified":"2024-06-11T10:00:34","modified_gmt":"2024-06-11T10:00:34","slug":"brace-for-impact-18-7m-in-sui-set-to-flood-the-market-what-to-expect","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/brace-for-impact-18-7m-in-sui-set-to-flood-the-market-what-to-expect\/","title":{"rendered":"Brace For Impact: $18.7M In SUI Set To Flood The Market, What To Expect?"},"content":{"rendered":"<p><span class=\"selectable-text copyable-text\">The Sui Network, known for its fast-paced growth and community support, is on the verge of a notable event. On September 3rd, a massive amount of SUI tokens, worth roughly $18.7 million, will\u00a0be <a href=\"https:\/\/twitter.com\/Token_Unlocks\/status\/39189374?s=20\" target=\"_blank\" rel=\"noopener nofollow\">unlocked<\/a>.<\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">Given its nature and the significant sum involved, this move could have some implications for the altcoin&#8217;s market dynamics in the coming days.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/altcoin-season-bitcoin-dominance-holds-key-support\/\" target=\"_blank\" rel=\"noopener \">Altcoin Season In Limbo As Bitcoin Dominance Bounces Off Key Support<\/a><\/div>\n<h2><span class=\"selectable-text copyable-text\">A Rewarding Gesture For The Early Birds?<\/span><\/h2>\n<p><span class=\"selectable-text copyable-text\">The details surrounding this unlocking event have been transparently shared with the public. According to Token Unlocks, a crypto monitoring platform, this release will encompass 35.6 million SUI tokens. <\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">This quantity represents roughly 5% of the current circulating supply and interestingly, a predominant portion of these tokens could be earmarked for the network&#8217;s early supporters.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83d\udea8 Notable Unlocks Alert \ud83d\udea8<\/p>\n<p>\ud83d\uddd3\ufe0f Save the date [ September 3rd ] \ud83d\uddd3\ufe0f<\/p>\n<p>\ud83d\udd13 In three days, 35.6 million <a href=\"https:\/\/twitter.com\/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$SUI<\/a> will be unlocked, equivalent to a value of 18.7 million dollars<\/p>\n<p>\ud83d\udd25 Get ready and mark your calendar!<\/p>\n<p>Reference:<a href=\"https:\/\/t.co\/58X45YBAzy\" rel=\"nofollow\">https:\/\/t.co\/58X45YBAzy<\/a> <a href=\"https:\/\/t.co\/zVwTuECUaS\" rel=\"nofollow\">pic.twitter.com\/zVwTuECUaS<\/a><\/p>\n<p>\u2014 Token Unlocks (@Token_Unlocks) <a href=\"https:\/\/twitter.com\/Token_Unlocks\/status\/39189374?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">August 30, 2023<\/a><\/p><\/blockquote>\n<p>With this event, chances are that some of the scheduled unlocked tokens could likely be used to reward <span class=\"selectable-text copyable-text\">SUI&#8217;s <a href=\"https:\/\/wncen.com\/altcoin\/sei-takes-a-hit-price-suffers-plunge-amid-airdrop\/\" target=\"_blank\" rel=\"noopener \">Active Contributors and Early Supporters<\/a> (ACES) program.<\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">As <a href=\"https:\/\/x.com\/mysten_labs\/status\/67496705?s=46&amp;t=nFu8G4mzc7hHOw0CCfHo3g\" target=\"_blank\" rel=\"noopener nofollow\">instituted<\/a> by the SUI developer, Mysten Labs, earlier this year, the ACES program was crafted as a gesture of gratitude. It aimed to acknowledge and reward those SUI discord members whose contributions were pivotal before the altcoin&#8217;s mainnet launch. <\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">Moreover, alongside this unlocking, data from Token Unlocks suggest that SUI also intends to set aside a portion of the unlocked tokens for staking incentives.<\/span><\/p>\n<h2>What To Expect From SUI?<\/h2>\n<p><span class=\"selectable-text copyable-text\">With such a significant amount set to unlock, the temptation to sell might arise for some early supporters, especially if a portion is <a href=\"https:\/\/wncen.com\/analysis\/arb\/arbitrum-airdrop-success-metrics-soar-higher-across-the-board\/\" target=\"_blank\" rel=\"noopener \">rewarded<\/a> to Active Contributors and Early Supporters. This could potentially lead to a sell-off.<\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">Historically, massive token unlocks have sometimes resulted in short-term price depressions, given the increased market supply.<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">Furthermore, the network, which has seen rapid expansion, has also <a href=\"https:\/\/twitter.com\/SuiNetwork\/status\/66944947?s=20\" target=\"_blank\" rel=\"noopener nofollow\">recorded<\/a> a user base jump from 3 million to 5 million users in a mere 14 days and then further to 6 million active accounts within another three days.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/sei-takes-a-hit-price-suffers-plunge-amid-airdrop\/\" target=\"_blank\" rel=\"noopener \">Sei Takes A Hit: Price Suffers 26% Plunge Amid Airdrop Claim Expansion<\/a><\/div>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">With an <a href=\"https:\/\/twitter.com\/suipiens\/status\/64959922?s=20\" target=\"_blank\" rel=\"noopener nofollow\">addition<\/a> of approximately 1 million active accounts weekly over recent weeks, such growth rates might cushion any potential bearish impacts.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">1 million new accounts in less than 12 hours \ud83d\ude31 <a href=\"https:\/\/t.co\/4dShywYoGn\" rel=\"nofollow\">pic.twitter.com\/4dShywYoGn<\/a><\/p>\n<p>\u2014 Suipiens \ud83e\udd8d\ud83d\udca7 (@suipiens) <a href=\"https:\/\/twitter.com\/suipiens\/status\/64959922?ref_src=twsrc%5Etfw\" rel=\"nofollow\">August 30, 2023<\/a><\/p><\/blockquote>\n<p>Meanwhile, ranking 89th among larger crypto by <a href=\"https:\/\/wncen.com\/news\/kraken-ahead-in-altcoin-liquidity\/\" target=\"_blank\" rel=\"noopener \">market cap<\/a>, SUI has seen a notable plunge of nearly 10% in the past 7 days. And even in the past 24 hours, the <a href=\"https:\/\/wncen.com\/analysis\/xrp\/ripple-xrp-sales-jump-in-2023\/\" target=\"_blank\" rel=\"noopener \">bloodbath continues<\/a> as the asset records a 1.3% decline with a market price of $0.49 at the time of writing.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/s2TlCM7E\/\" alt=\"SUI price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">SUI price is moving sideways on the 4-hour chart. Source: SUI\/USDT on<a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ASUIUSDT\" target=\"_blank\" rel=\"noopener nofollow\"> TradingView.com<\/a><\/figcaption><\/figure>\n<p dir=\"ltr\">Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Sui Network, known for its fast-paced growth and community support, is on the verge of a notable event. On September 3rd, a massive amount of SUI tokens, worth roughly $18.7 million, will\u00a0be unlocked. Given its nature and the significant sum involved, this move could have some implications for the altcoin&#8217;s market dynamics in the coming days. Related Reading: Altcoin Season In Limbo As Bitcoin Dominance Bounces Off Key Support A Rewarding Gesture For The Early Birds? The details surrounding this unlocking event have been transparently shared with the public. According to Token Unlocks, a crypto monitoring platform, this release will encompass 35.6 million SUI tokens. This quantity represents roughly 5% of the current circulating supply and interestingly, a predominant portion of these tokens could be earmarked for the network&#8217;s early supporters. \ud83d\udea8 Notable Unlocks Alert \ud83d\udea8 \ud83d\uddd3\ufe0f Save the date [ September 3rd ] \ud83d\uddd3\ufe0f \ud83d\udd13 In three days, 35.6 million $SUI will be unlocked, equivalent to a value of 18.7 million dollars \ud83d\udd25 Get ready and mark your calendar! Reference:https:\/\/t.co\/58X45YBAzy pic.twitter.com\/zVwTuECUaS \u2014 Token Unlocks (@Token_Unlocks) August 30, 2023 With this event, chances are that some of the scheduled unlocked tokens could likely be used to reward SUI&#8217;s Active Contributors and Early Supporters (ACES) program. As instituted by the SUI developer, Mysten Labs, earlier this year, the ACES program was crafted as a gesture of gratitude. It aimed to acknowledge and reward those SUI discord members whose contributions were pivotal before the altcoin&#8217;s mainnet launch. Moreover, alongside this unlocking, data from Token Unlocks suggest that SUI also intends to set aside a portion of the unlocked tokens for staking incentives. What To Expect From SUI? With such a significant amount set to unlock, the temptation to sell might arise for some early supporters, especially if a portion is rewarded to Active Contributors and Early Supporters. This could potentially lead to a sell-off. Historically, massive token unlocks have sometimes resulted in short-term price depressions, given the increased market supply. Furthermore, the network, which has seen rapid expansion, has also recorded a user base jump from 3 million to 5 million users in a mere 14 days and then further to 6 million active accounts within another three days. Related Reading: Sei Takes A Hit: Price Suffers 26% Plunge Amid Airdrop Claim Expansion With an addition of approximately 1 million active accounts weekly over recent weeks, such growth rates might cushion any potential bearish impacts. 1 million new accounts in less than 12 hours \ud83d\ude31 pic.twitter.com\/4dShywYoGn \u2014 Suipiens \ud83e\udd8d\ud83d\udca7 (@suipiens) August 30, 2023 Meanwhile, ranking 89th among larger crypto by market cap, SUI has seen a notable plunge of nearly 10% in the past 7 days. And even in the past 24 hours, the bloodbath continues as the asset records a 1.3% decline with a market price of $0.49 at the time of writing. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":523579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[13274,134,6664,87261,88415],"class_list":["post-549775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-airdrop","tag-altcoin","tag-crypto","tag-sui","tag-suiusdt"],"acf":[],"yoast_head":"\n<title>Brace For Impact: $18.7M In SUI Set To Flood The Market, What To Expect?<\/title>\n<meta name=\"description\" content=\"The Sui Network, known for its fast-paced growth and community support, is on the verge of a notable event. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/wncen.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Brace For Impact: $18.7M In SUI Set To Flood The Market, What To Expect?","description":"The Sui Network, known for its fast-paced growth and community support, is on the verge of a notable event. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Brace For Impact: $18.7M In SUI Set To Flood The Market, What To Expect?","url":"http:\/\/wncen.com\/news\/brace-for-impact-18-7m-in-sui-set-to-flood-the-market-what-to-expect\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/brace-for-impact-18-7m-in-sui-set-to-flood-the-market-what-to-expect\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["airdrop","altcoin","crypto","sui","suiusdt"],"dateCreated":"2023-09-01T20:00:07Z","datePublished":"2023-09-01T20:00:07Z","dateModified":"2024-06-11T10:00:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Brace For Impact: $18.7M In SUI Set To Flood The Market, What To Expect?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/brace-for-impact-18-7m-in-sui-set-to-flood-the-market-what-to-expect\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/brace-for-impact-18-7m-in-sui-set-to-flood-the-market-what-to-expect\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?fit=509%2C339\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"airdrop\",\"altcoin\",\"crypto\",\"sui\",\"suiusdt\"],\"dateCreated\":\"2023-09-01T20:00:07Z\",\"datePublished\":\"2023-09-01T20:00:07Z\",\"dateModified\":\"2024-06-11T10:00:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/549775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=549775"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/549775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/523579"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=549775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=549775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=549775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}