This may indicate that both buyers and sellers have encountered some common ground as the native asset of the Sui blockchain continues to consolidate.
At $1.5 billion, trading volumes have reached a high point from a historical standpoint. Nevertheless, they have still not hit any meaningful records like the $3.2 billion that exchanges hands on July 18.
Launch of SUI Treasury Could Attract Institutional Flows
The recent launch of the first SUI treasury may have marked a pivotal moment for the token as institutional adoption continues to accelerate.
Mill City Ventures III (MCVT) Price Chart - Source: FXEmpire.com
Mill City Ventures raised $450 million to launch a publicly traded vehicle under its ticker symbol MCVT through which market participants will be able to get direct exposure to SUI via the regulated markets.
These moves may have paved the way for the upcoming launch of a Sui ETF. Only Canary Capital has submitted the paperwork required to list such a vehicle.