SUI Price Alert: Elliott Wave Analysis Suggests Possible Decline to $2 Amid Market Volatility

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-29 23:37:59

[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN] SUI News -

Sui (SUI) has dropped 8% to $3.50, wiping out its year-to-date gains despite recovering from 2025 lows. The decline follows rejection at the $4 resistance level and a $220 million exploit on Cetus, a Sui-based DEX aggregator.

Cetus Protocol confirmed the breach via Twitter, announcing a community vote to reimburse affected users. The sui Foundation’s proposal passed with 90.9% approval, with $160 million in frozen hacker funds being returned and the foundation covering remaining losses.

The incident has sparked debate about protocol bailouts, with critics arguing reimbursement sets a dangerous precedent for poorly secured dApps. SUI ecosystem tokens faced broad selling pressure following the security failure.

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