Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»BLOCKCHAIN NEWS»Sui (SUI) rises 7.9% amid proposed improvements to token economics and short squeeze
BLOCKCHAIN NEWS

Sui (SUI) rises 7.9% amid proposed improvements to token economics and short squeeze

By Crypto FlexsNovember 29, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Sui (SUI) rises 7.9% amid proposed improvements to token economics and short squeeze
Share
Facebook Twitter LinkedIn Pinterest Email

Developed by former members of Facebook’s blockchain team (now Meta), the Sui Network token has experienced significant growth today as it targets the broader cryptocurrency market trying to recover from the recent downturn.

Sui (SUI)Sui (SUI) led the day’s positive movement with a notable 7.9% surge, driven by attractive offers to strengthen token economics and a selling squeeze targeting long positions in the futures market.

While most tokens have remained in the red over the past week, a handful of digital assets have achieved modest gains in the range of 1-5% since Monday.

Over the past 24 hours, the overall market capitalization of cryptocurrencies has increased by 1%, reaching approximately $10 billion.

Bitcoin (BTC) recently recorded a slight increase of 0.4% at its trading price of $26,140, ​​while Ethereum (ETH) is currently down a slight 0.3% at $1,750.

Proposal to improve token economics

On June 10, Sui’s core contributors introduced the Sui Improvement Proposal (SIP), which aims to enable liquid staking of SUI tokens.

📣Coming Soon: Enable floating staking in Sui.

Developers can build liquid staking through SIP 6 protocol update: https://t.co/cY4pWZxMDq pic.twitter.com/0gBbhxiTPP

— Sui (@SuiNetwork) June 10, 2023

Currently, SUI validators are rewarded 5.43% per year in SUI tokens for protecting the network. By implementing floating staking, investors can actively trade using floating staked tokens while earning these rewards.

Short term pressure in the futures market

Another factor driving the SUI price rise is the short selling squeeze occurring in the futures market.

According to Coinglass data, the funding rate for SUI perpetual contracts fell significantly on June 11, indicating that traders have initiated aggressive short positions.

The funding rate represents the periodic payment exchanged between long-term and short-term traders in the perpetual contract market, and is based on market demand for that contract.

In the case of SUI, most traders took short positions and speculated on a decline in price. This created an opportunity for more sophisticated traders to push the price higher and trigger stop losses for the majority.

Over the past two days, approximately $2.5 million worth of long-term orders for SUI tokens have been liquidated, according to Coinglass data.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Safe and expandable MCP server development: Main strategies and best practices

July 27, 2025

POLYMARKET will re -enter the United States after the acquisition of QCEX $ 112 million.

July 22, 2025

Genius ACT specifies the House of Representatives, and Stablecoin Law can pass this week.

July 17, 2025
Add A Comment

Comments are closed.

Recent Posts

Mara raises hashrates, reaches 50K Bitcoin, and plans to expand

August 4, 2025

Bybit Expands USDT0 Support To HyperEVM, Corn, And Berachain — Unlocking Seamless Stablecoin Access Across Ecosystems

August 4, 2025

Credix Hack adds $ 3.1 billion in defect loss in 2025, depending on Multisig Oblures Surge.

August 4, 2025

Bybit’s Ben Zhou Invites Community To Rewrite Their Own Success In Mid-Year Keynote Livestream

August 4, 2025

Bitcoin has taken 3%of Trump tariffs and $ 75 million in Longs.

August 4, 2025

$ 3.5 billion in 2020 Bitcoin attack discovered by Arkham Intel

August 3, 2025

Stablecoins are finally legal

August 3, 2025

SOLANA DEX Volume Co -founder Slam Mim Coin 20% deep

August 2, 2025

DLMining Releases 2025 ETH Contract Innovation Plan, Ushering In A New Era Of Inclusive Mining

August 2, 2025

XRP Rebounds On ETF Hopes As CryptoMining Firm Launches $8,100/Day Cloud Contracts

August 2, 2025

Since April, Telegram Growth and Stacking have driven Funtoken’s price soaring

August 2, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Mara raises hashrates, reaches 50K Bitcoin, and plans to expand

August 4, 2025

Bybit Expands USDT0 Support To HyperEVM, Corn, And Berachain — Unlocking Seamless Stablecoin Access Across Ecosystems

August 4, 2025

Credix Hack adds $ 3.1 billion in defect loss in 2025, depending on Multisig Oblures Surge.

August 4, 2025
Most Popular

Ethereum Co-Founder Vitalik Buterin Proposes Signature Reduction

December 29, 2023

The Next Meme Coin to Explode in 2024 – Is $SMOG the Best Cryptocurrency to Buy Right Now?

February 25, 2024

Binance Labs invests in Babylon to facilitate Bitcoin staking.

February 28, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.