SUI Plunges Over 87% After Massive Token Unlock Triggers Liquidation Frenzy

The cryptocurrency token SUI experienced a dramatic price drop of over 87% following the unlocking of millions of tokens, triggering widespread panic selling across major exchanges. As a result of this event, the token’s price plummeted from $3.80 to $0.50 within minutes, with over $144 million worth of SUI tokens entering circulation. This sudden surge in supply overwhelmed order books on Binance and Coinbase, sparking a wave of forced liquidations exceeding $500 million, with $100 million linked directly to SUI positions.