The price of Sui (SUI) has dropped sharply after its market debut across leading cryptocurrency exchanges.
On May 5, the SUI price was $1.26 per token, down about 70% from its record high of around $4, established two days ago on Binance.
Interestingly, on other exchanges like Kraken, the token’s market top was $1.60 or lower, suggesting it was in “price discovery” mode after the launch.
SUI/USD daily price chart. Source: TradingViewStill, SUI maintains its overall market gains, up nearly 1,200% from its market debut.
Early SUI price fundamentals
SUI’s initial uptrend drew support from traders who view Sui — a new entry into the long list of layer-1 blockchain projects — as potentially more scalable than its rivals.
