SUI is testing the lower end of its recent trading range after a sharp September pullback left the Layer-1 token near $0.71. The SUI price fell as low as $0.688 on September 15 before recovering toward $0.708, according to Investing.com market data, extending a retreat from the $0.844 intraday high recorded on September 7.
The decline comes as investors continue to monitor Sui’s expanding circulating supply. Approximately 4.10 billion SUI, or 40.97% of the fixed 10 billion supply, is currently unlocked, according to Tokenomist, with the next scheduled release set for October 1. The existence of scheduled unlocks increases available supply over time, although an unlock does not by itself establish that recipients are selling their tokens.
SUI Price Faces Support Near Its 52-Week Low
Recent trading shows how quickly SUI’s market structure has weakened. The token has fallen roughly 16% from its September 7 high, after closing at $0.7256 on September 11 and subsequently dipping below the $0.71 area that had repeatedly attracted buyers around late August and early September. On September 15, the intraday low extended to $0.6883.
If weakness continues, the clearest historical reference point is lower. Investing.com places SUI’s 52-week low at $0.6393, making the area around $0.64 a more directly supported downside benchmark than the $0.62-$0.63 range cited in some market commentary. Conversely, the $0.84-$0.85 region has recently acted as resistance, with SUI reaching $0.844 on September 7 and $0.8505 on August 23 before retreating. These are historical price levels rather than predictions of where SUI will trade next.
Supply remains another variable. Sui’s release schedule extends into 2030 and relies heavily on cliff-based unlocks, covering allocations including the Community Reserve, early contributors, Series A and Series B investors and the Mysten Labs Treasury. The Sui Foundation itself notes that token releases will continue periodically, while the precise schedule can be adjusted according to the network’s needs.
Sui Stablecoin Growth Contrasts With Price Weakness
On-chain indicators present a more mixed picture than SUI’s price alone. Sui currently holds roughly $463 million in DeFi TVL while its stablecoin market capitalization stands near $466 million, with the latter up about 8% over seven days in the latest DefiLlama snapshot. That means stablecoin liquidity has recently expanded even as the native token remains under pressure.
The Sui Foundation has also introduced an economic mechanism linking stablecoin activity to SUI demand. Yield generated from stablecoin float is being used by the Foundation to purchase SUI on the open market, with acquired tokens subsequently distributed to ecosystem participants. Its dashboard currently reports approximately $449.3 million in stablecoin float, using a different measurement methodology from DefiLlama.
That buyback mechanism should not, however, be treated as proof that dilution from scheduled releases has been neutralized. The near-term market test remains whether SUI can stabilize after breaking below $0.71 while the October 1 unlock approaches. If selling persists, the verified $0.6393 52-week low becomes the next major historical reference; a recovery would first need to reclaim the trading range lost during September before the recent $0.84-$0.85 highs become relevant again.