💧 SUI price remains steady at $0.82 as TVL remains nearly unchanged near $550M

SUI, the native cryptocurrency of the SUI network, recording a slight decrease of 0.68% to a trading value of $0.86. The cryptocurrency market often experiences lower liquidity and volume on weekends when traders are mostly idle. In this uncertain environment, SUI’s price faces the risk of prolonged correction as derivative and on-chain market data indicate a lack of confidence from investors.
🔸 Lack of Momentum for SUI After Major Network Upgrades
The layer-1 Sui network underwent a series of technical upgrades and integrations last week, with the trading token fluctuating around $0.87.
The expected unlock on April 1 released approximately 43 million SUI tokens, equivalent to about $37 million at current prices. This introduced a new supply accounting for roughly 1.1 percent of the circulating tokens, as outlined in the project's vesting schedule.
During the same period, the mainnet was upgraded to version 1.68.1, and the protocol also moved to version 118. This release enables address aliases to simplify wallet and contract interactions, enhances security$SUI around system metadata, and fixes a bug that could cause full nodes to crash when simulating faulty transactions with invalid withdrawals.
On the integration front, the derivative platform Margex has started accepting SUI as collateral for deposits and margin positions. Walmart-supported OnePay has added the token to its growing list of payment and transfer assets. On April 2, Sui announced a partnership with Erebor Bank, a new national bank in the US specializing in digital asset infrastructure. This partnership allows legally registered bank customers to send and withdraw stablecoins on and off Sui for deposits, withdrawals, and usage.
TVL remains stable during sideways price movement, indicating no new capital flowing into the ecosystem.
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