Sui price weathers $65.1M unlock, buoyed by network upgrades

Sui (SUI) is maintaining its upward momentum despite a large-scale token unlock, driven by network expansion following its Mysticeti v2 upgrade, according to an analysis by crypto analyst Kyle Chassé. On Jan. 1, a total of 43.69 million SUI, valued at $65.1 million, was unlocked. Chassé noted that while such events typically exert downward pressure on prices, SUI's rally continued, successfully absorbing the new supply into the market, BeInCrypto reported. The analyst attributed the resilience to fundamental growth, pointing out that Sui's network has maintained 886 transactions per second (TPS) since its Mysticeti v2 consensus engine upgrade in November 2025. He also highlighted growing institutional demand, evidenced by spot SUI ETF applications from Bitwise and Canary Capital. Chassé added that Sui is evolving into a full-stack execution engine, not merely a "Solana killer," with protocol-level privacy features expected to be introduced in the first quarter. According to CoinMarketCap, SUI is trading at $1.95, up 16.12% over the past 24 hours.