Sui Foundation denies insider token sales during recent price surge allegations.
SUI shows volatility, nearing overbought territory with a possible short-term correction.
Liquidations surge as SUI price fluctuates, peaking during September’s short squeeze.
The Sui Foundation has denied allegations of insider trading after claims surfaced that insiders sold $400 million worth of SUI tokens during a recent price surge. The Foundation stated that no employees, founders, or investors were involved in the alleged selling, which would have violated lockup agreements.
The allegations emerged without specific wallet addresses, but the Foundation said it identified a potential wallet belonging to an infrastructure partner who holds tokens under a strict lockup schedule. The Foundation maintains that no insiders were involved in the alleged token sales.
Sui Market Overview and Trading Volatility
Despite this, SUI has experienced volatility in its trading behavior. During the time of writing, SUI was priced at $2.21, reflecting a 1.47% decline over the past 24 hours. This dip mirrored a decrease in SUI’s market cap, which fell to $6.10 billion.
Source: Coin…
The post Sui Foundation Denies Insider Trading, SUI Price Falls 1.47% appeared first on Coin Edition.
