SUI just broke some big news today—Phantom Wallet has officially announced that it will stop supporting the Sui network on September 24. The reason given is: “user activity is too low” 😬
At the moment, the SUI price is $0.826, trading mostly sideways over the past 24 hours at -0.19%. However, contract open interest is as high as 118 million coins. Neither longs nor shorts have exited, and the market direction still hasn’t been chosen.
The good news is that the funding rate is only 0.01%, with no obvious buildup of long positions, so the risk of short-term liquidation doesn’t look too high.
That said, Phantom’s withdrawal is still something to be wary of—when a major wallet leaves because “nobody uses it,” it sends a negative signal about SUI’s ecosystem image. Affected users need to proactively migrate their wallets or move their assets before September 24. Phantom also promises to waive fees during this period.
Current market: Before there’s a clear catalyst, the most likely scenario is range-bound consolidation between $0.80 and $0.86, with a wait-and-see approach. If you hold SUI positions, it’s recommended to keep an eye on wallet-migration progress before September and whether the ecosystem has response measures.
Not investment advice—just sharing information～
Click the small card below to quickly check the market👇
#SUI #Phantom #加密货币 #On-chain updates
At the moment, the SUI price is $0.826, trading mostly sideways over the past 24 hours at -0.19%. However, contract open interest is as high as 118 million coins. Neither longs nor shorts have exited, and the market direction still hasn’t been chosen.
The good news is that the funding rate is only 0.01%, with no obvious buildup of long positions, so the risk of short-term liquidation doesn’t look too high.
That said, Phantom’s withdrawal is still something to be wary of—when a major wallet leaves because “nobody uses it,” it sends a negative signal about SUI’s ecosystem image. Affected users need to proactively migrate their wallets or move their assets before September 24. Phantom also promises to waive fees during this period.
Current market: Before there’s a clear catalyst, the most likely scenario is range-bound consolidation between $0.80 and $0.86, with a wait-and-see approach. If you hold SUI positions, it’s recommended to keep an eye on wallet-migration progress before September and whether the ecosystem has response measures.
Not investment advice—just sharing information～
Click the small card below to quickly check the market👇
#SUI #Phantom #加密货币 #On-chain updates
