Investor anxiety is mounting, as an additional $20 million in SUI is reportedly set for the next wave of sales.
Massive Sell-off Identified:
DeFi analyst Viktor has highlighted the Sui Foundation's "infrastructure partner" for dumping $400 million in SUI tokens, sparking concerns among investors.
More Sales Incoming:
Another $20 million in SUI tokens is poised for sale, adding to the sell pressure.
Wallet Activity: A person has been at the center of the sell-off, receiving 10 million SUI on October 14 after a temporary pause in selling.
Staked SUI:
Origin wallets tied to the infrastructure partner are holding $430 million and $230 million in staked SUI tokens, which are supposedly under vesting contracts.
Sui Foundation's Response:
The Foundation has dismissed insider trading accusations, claiming the partner is operating "in compliance" with the rules. However, concerns linger due to the use of custodians for locked tokens, as opposed to programmatic enforcement through smart contracts.
Supply Concerns:
A significant portion of SUI’s total supply—72%—remains locked but continues to generate rewards for private insiders. Series A and B investors alone receive 61% of monthly token unlocks, raising alarms with a substantial unlock scheduled for November.
Market Sentiment:
With tokenomics playing a critical role, investors are advised to stay informed, as these dynamics are poised to shape the market's future direction.
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