SUI Rebounds Sharply After Overnight Dip as ETF Filings Spark Institutional Interest
SUI recovered to $3.78 on Thursday following an overnight pullback that saw the token slide 8% to a low of $3.52. The rebound occurred over a five-hour window and was accompanied by a significant surge in volume, signaling strong demand during the dip.
The sell-off began late Wednesday around 11 p.m. ET, with SUI declining steadily until bottoming out at 3 a.m. ET. Trading volumes peaked at 35.4 million during that window—more than twice the token’s 24-hour average—suggesting accumulation by larger players.
SUI’s price rebound brought it back near its previous high of $3.82, reinforcing the view that institutional players are becoming more active in the market.
The price action coincided with regulatory momentum. On Wednesday, the U.S. Securities and Exchange Commission advanced Canary Capital’s proposed spot SUI ETF to the “institution of proceedings” stage. On the same day, 21Shares submitted its own filing for a similar SUI-based fund.
These developments reflect growing efforts to bring the token into regulated investment frameworks, potentially expanding access for institutional and retail investors alike.
Still, technical signals point to continued caution. The $3.82 level is now acting as short-term resistance, and the token remains range-bound amid broader market consolidation. CoinDesk Research notes that early selling pressure has re-emerged near that level.
As of the latest data, SUI is down 0.42% over the past 24 hours, slightly outperforming the CoinDesk 20 Index, which has declined by approximately 1%.
