Sui price went parabolic in April as meme coins in its ecosystem soared. It more than doubled from its lowest level on April 7 and its highest swing last week. These gains may get undone soon as the network nears a giant token unlock worth $296 million on May 1.
$296M SUI Tokens to Flood Ahead of May 1 Unlock Event
The value of Sui may come under selling pressure in the next few days as the network unlocks 88.34 million tokens worth $296 million on May 1. This token unlock is part of its monthly unlock, when it releases over 50 million tokens as part of its vesting schedule.
Most of the unlocked tokens will go to Series B investors, who will receive 19.32 million of them. 14 million of these tokens will be allocated towards staked subsidies, while the remaining tokens will be distributed to early contributors and Mysten Lab Treasuries.
Sui holders will continue being diluted for many years as the circulating supply is 3.24 billion against a total supply of 10 million. As the chart below illustrates, the last Sui token unlock is scheduled to occur in May 2030.
Sui Unlocks
A token unlock is a situation where new coins are brought in the market as part of the vesting schedule. It is often seen as a bearish thing since it introduces new supply in the market, which may affect price when there is no equal demand.
However, tokens don’t always drop ahead or after a unlock since the vesting schedule is usually publicly available. This means that investors have already priced in the future unlocks. For example, TRUMP price jumped after a $300 million token unlock earlier this month.
Sui Price Prediction & Top Down Analysis
Sui Token Price Weekly Analysis
The weekly chart shows that the Sui token reached a high of $3.8690 this month. These gains happened last week as Bitcoin and most altcoins jumped.
There are signs that the momentum is waning as the coin has pulled back this week. It is also slowly forming an evening star candlestick pattern. A small body and upper and lower shadows characterize this pattern. Since this is a weekly chart, it will be confirmed if it ends the week around the $3.5 range.
More selling pressure, because of the token unlocks, may see the coin drop to a low of $2.3436, the highest swing in October last year. A weekly close above the high of $3.8690 will invalidate the evening star candle and point to a Sui price forecast. Such a move would signal more gains, potentially to the psychological point at $5.
Sui Price Weekly Chart
Sui Coin Price 4-Hour Chart Analysis
The four-hour chart paints a more dire picture of the Sui price. That’s because it formed what looks like a double-top pattern at $3.811. It has now moved slightly below the crucial support at $3.4120.
Oscillators also show that it is losing momentum. The Relative Strength Index has moved below 50, while the Awesome Oscillator (AO) bars are about to move below the zero line. A bearish momentum is often confirmed when the RSI drops below 50, and when the AO crashes below zero.
SUI price 4H chart
Therefore, this chart means that the Sui coin price may drop by at least 20% in the near term to $2.7377.
Summary
Sui has become one of the top chains in the crypto industry, gaining market share in an industry like decentralized finance (DeFi). While the long-term bullish trend may remain, the value of Sui may drop further in the immediate short term.
The state of security across the crypto and blockchain space has changed significantly in the past few months. Traditional smart contracts exploited or brute force attacks on blockchain networks are being superseded by crypto scams like rug pulls and pump-and-dump schemes.
BeInCrypto spoke with a spokesperson from security firm CertiK to understand how blockchain and security threats are evolving and how projects and users can safeguard against future exploits.
Social Media Hacks on the Rise
Over the past few months, the crypto community has seen a rise in social media-related hacks. This increasingly common tendency has pivoted away from the orchestration of more sophisticated blockchain attacks that have traditionally plagued headlines.
Whereas smart contract exploits or blockchain hacks require more knowledge, hackers have found an easier avenue by targeting social media accounts instead.
X (formerly Twitter) has quickly become the social media platform of choice among Web3 hackers.
Social Media is Now a Prime Target for Web3 Hackers
After US President Donald Trump launched his meme coin only two days before assuming office, hackers began to take advantage of the hype to hack high-profile X accounts and convince followers to invest in scam meme coins.
Last month, anonymous hackers took over the X account of the former Malaysian Prime Minister Mahathir Mohamad to promote MALAYSIA, a fake meme coin promoted as the country’s official cryptocurrency.
The post was removed within an hour, but the damage was done. Analysis shows that these hackers were probably related to the infamous Russian Evil Corp and that they stole $1.7 million in this rug pull.
The MALAYSIA token scam happened only two weeks after hackers exploited former Brazilian President Jair Bolsonaro’s social media account. In that instance, scammers promoted the BRAZIL token, which rose over 10,000% in minutes, netting the scammers over $1.3 million.
These scams have also affected technological companies.
Attacks on Tech Companies
In December, AI research and development company Anthropic also saw its X account hacked. A fraudulent post claimed that a fake token called CLAUDE would incentivize AI and crypto projects and included a wallet address for investors.
Attackers managed to collect around $100,000 from speculative investors.
These situations also highlight a broader issue of weak account security on social media platforms. As a result, even prominent individuals are susceptible to security breaches that directly affect the crypto community.
TRUMP Meme Coin Launch Was a Catalyst For Crypto Scams
“Now is the time to talk about the fact that large-scale political coins cross a further line: they are not just sources of fun, whose harm is at most contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states,” Buterin claimed.
Buterin highlighted the tokens’ role in enabling scams and political corruption in crypto and blamed a regulatory loophole former SEC Chair Gary Gensler created for allowing bad actors to exploit governance tokens.
However, these crypto scams extend beyond political themes.
Growth of Social Engineering Exploits
A week after Buterin cautioned against political meme coins, a Coinbase user lost $11.5 million after falling victim to a social engineering scam on Base.
Crypto sleuth ZackXBT uncovered the exploit, pointing out that this incident is part of a growing trend, with multiple Coinbase users suffering similar losses. He also estimates that crypto scams of this nature have drained at least $150 million from Coinbase customers.
“Coinbase has a serious fraud problem. I just uncovered many more recent thefts from Coinbase users. The $150 million stolen from Coinbase users in a year is just from thefts I independently confirmed. So it’s more than likely multiples of this number,” ZachXBT stated.
In social engineering scams, attackers use phishing emails, spoofed calls, and other deceptive tactics to trick victims into revealing private keys or login credentials. Once they gain access, they drain wallets, move funds, and take control of accounts.
For CertiK, these situations stipulate the need for stronger security measures.
Addressing these security challenges is crucial as new crypto projects increase exponentially.
Prioritizing Proactive Security in a Rapidly Growing Industry
The Web3 sector is experiencing consistent growth, marked by a surge in new crypto project launches. This innovative momentum is expected to continue, but it’s also fueling security concerns.
Notably, the increasing rate of scams and hacks in the first three months of 2025 makes it clear that security efforts are struggling to keep up with innovation.
A study by Precedence Research estimates the Web 3.0 market will expand from USD 4.62 billion in 2025 to approximately USD 99.75 billion by 2034, with a projected compound annual growth rate (CAGR) of 41.18% during that period.
Predicted market size of Web3 in the next ten years. Source: Precedence Research.
Yet, CertiK believes that project developers are pushing security considerations toward the end of the priority list.
As the Web3 ecosystem evolves, a proactive and adaptive security approach is critical. Prioritizing both blockchain integrity and social media vigilance will be essential for safeguarding the growing Web3 ecosystem.
The battle against these exploits requires a future where security is not an afterthought but a foundational pillar of every Web3 project and user interaction.
The Cardano price secured a prominent spot on investors’ radars amid the recent US crypto stockpile announcement. Intriguingly, a renowned crypto market analyst has taken the stage amid this development to reveal how ADA price can rally to $2 ahead. In light of the market-wide bets of the crypto being included in the ‘crypto stockpile’ announced by Trump, traders and investors infer whether the analyst’s forecast is set to unfold.
Top Analyst Reveals Why Cardano Price Rally To $2 Looms
In an X post by Ali Martinez on March 7, the analyst revealed that Cardano price has been forming a right-angled descending broadening wedge pattern since December last year. Per the analyst, the $1.14 level acts as a key horizontal resistance barrier amid this formation.
A daily candlestick close above this resistance could trigger a bull rally to $2, the analyst added. However, ADA price traded down 7% in the past 24 hours and exchanged hands at $0.8822. The coin bottomed at $0.8232, waning in line with the broader crypto market trend today.
Nevertheless, traders and investors continue to eye the coin bullishly amid broader advancements.
Why The Sudden Optimism Around Cardano Price?
It’s worth mentioning that traders and investors are abuzz with the latest pro-cryptocurrency developments in the US President Donald Trump recently signed an executive order for a Bitcoin strategic reserve, whilst a ‘crypto stockpile’ for altcoins is also in the pipeline.
This stockpile is highly anticipated to encompass altcoins like Ethereum (ETH), XRP, Solana (SOL), and ADA. As an upshot, market watchers weigh considerable optimism over the crypto’s long-term potential in sync with the analyst’s projections.
More Analysts Join The Fray, Ignite Market Bullishness
Simultaneously, a couple of other renowned market analysts added bullishness over ADA price outlook.
Analyst Rose Premium Signals took to X, revealing that ADA is consolidating within a descending channel on the daily chart. With this statement, the analyst signaled that the price is hovering around descending resistance, hinting at a potential breakout. The short-term targets for the crypto remain at $1.30 and $1.40, which is up over 40% from the current level.
Source: Rose Premium Signals, X
On the other hand, market expert Coinvo posted on X, revealing that Cardano’s price is about to go parabolic after Trump’s announcement of the crypto stockpile. Overall, market watchers remain highly bullish about crypto amid broader developments despite a waning price action today. Simultaneously, the upcoming White House crypto summit is also expected to offer further clarity on the U.S. crypto stockpile.
Crypto analyst Javon Marks has identified a potential breakout for the Cardano price and forecasts a substantial price increase. The analyst suggests that ADA price could rise by over 260%, with price targets ranging from $2.70 to $2.91.
Cardano Price Eyes 260% Rally To $2.70
Cardano’s price has shown a steady recovery in recent days, with a notable 2.97% increase in the last 24 hours. Meanwhile, according to crypto analyst Javon Marks, Cardano’s chart shows an ascending triangle pattern, often viewed as a bullish continuation signal. This pattern occurs when the price makes higher lows while the resistance level remains relatively flat.
The consistently higher lows suggest growing buying pressure, indicating buyers are willing to accumulate ADA at higher prices. The breakout probability increases as the ADA price nears the triangle’s upper resistance line.
According to Javon Marks, substantial upward momentum could be seen once ADA breaks through the upper resistance level. A similar breakout in the past resulted in a nearly 300% price increase. If this historical pattern holds, ADA could reach its target price range of $2.70 to $2.91, representing a 261% gain. The consistent testing of the resistance level indicates that the breakout might be imminent, making it a favorable entry point for investors.
Long-Term Holders Show Confidence in Cardano Price
Another factor contributing to the bullish outlook for ADA is the increase in long-term holders (Hodlers). Data from IntoTheBlock shows a steady rise in the number of ADA held for over one year, with the Hodlers’ balance increasing by 1.81%. This data points to a growing investor confidence in Cardano’s long-term potential.
Additionally, the number of medium-term holders (Cruisers) holding for 1-12 months has risen by 7.65%. These increases suggest that more investors are holding onto their ADA rather than engaging in short-term speculative trading.
Cardano Ownership By Time Held (Source: IntotheBlock)
Long-term holders tend to accumulate assets during bullish market phases. The rise in Hodlers’ balance, which has seen an increase in holding time of 77.53% in the last 7 days, suggests that ADA’s investors believe in the project’s future and are willing to lock in their positions. This trend aligns with the broader market sentiment that Cardano is on track for a potential breakout, supported by long-term investor commitment. Furthermore, the balance of medium-term holders has also risen, signaling that more people are shifting their ADA into longer-term positions.
Is a Golden Cross Looming for ADA Price?
In addition to the chart pattern and increasing long-term holders, several technical indicators support a positive price outlook for Cardano. One such indicator is the 50-day Simple Moving Average (SMA) nearing a crossing above the 200-day SMA. This crossing, called Golden Cross, often signals the start of a strong upward movement, as it suggests that the short-term trend is gaining strength. Moreover, the open interest for Cardano’s derivatives is currently at $879.32 million, reflecting a 13.78% increase. This uptick in open interest further supports Cardano’s bullish outlook.
ADAUSD 4hr price chart (Source: TradingView)
Moreover, the Relative Strength Index (RSI) is currently near 70.79 in the overbought zone. While this typically signals an overbought condition, the price can continue rising even with high RSI levels during a strong uptrend. The RSI’s upward trajectory indicates that ADA still has momentum, supporting Marks’ forecast of a potential breakout.
The Chaikin Money Flow (CMF) is another positive indicator currently at +0.11. This suggests that more money flows into Cardano, reflecting increased buying pressure and continued demand for ADA. As the CMF remains positive, the bullish sentiment surrounding Cardano will likely persist.
