Sui token yielding a 12-fold windfall for public sale investors

Quick Take

  • Sui token was trading at $1.25 shortly after 10:30 a.m. ET, down from highs above $2 earlier in the day.
  • The token is trading at about 1,200% higher than its public sale price of $0.10.

Investors who purchased the native token of the Layer 1 blockchain Sui in a public offering last month are seeing large returns, with the token's price trading around $1.25 on its first day on centralized exchanges.

Not long after Mysten Labs' Sui blockchain launched its mainnet today at 8 a.m. ET, the platform's native token was listed for trading on various exchanges. The token initially traded around $2.10, well above the $0.10 investors paid during its public sale at the end of April. The price has since slipped around 42% due to selling pressure.

Sui was trading at $1.25 by 10:30 a.m. ET, based on Binance data from TradingView. The token saw over $700 million in trading volume in its first few hours. The majority of the volume — 53% — was on the SUI/USDT trading pair on Binance. 

SUI/USDT chart via TradingView

Sui circulating supply and market cap


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

With a circulating supply of 528 million, the token's market cap has reached $675 million, according to CoinGecko data. The fully diluted valuation of Sui reaches $12.5 billion, considering a maximum supply of 10 billion tokens.

OKX, Bybit, Binance and Kucoin announced plans today to list and initiate trading for the Sui token immediately following the activation of the Sui mainnet.

These exchanges had previously conducted a public sale of the Sui token at $0.10 each. Moreover, Binance showcased the token on its Launchpool platform, enabling users to stake BNB tokens or TUSD stablecoins to earn Sui tokens at no additional cost.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Vishal Chawla is The Block’s crypto ecosystems editor and has spent over six years covering tech protocols, cybersecurity, artificial intelligence and cloud computing. Vishal likes to delve deep into blockchain intricacies to ensure readers are well-informed about the continuously evolving crypto landscape. He is also a staunch advocate for rigorous security practices in the space. Before joining The Block, Vishal held positions at IDG ComputerWorld, CIO, and Crypto Briefing. He can be reached on Twitter at @vishal4c and via email at [email protected]
Adam Morgan is a reporter covering cryptocurrency, financial markets, and economics – anything from price movements, earnings reports, and inflation to the U.S. Federal Reserve interest rate decisions and everything in between. Adam is based in London.


To contact the editors of this story:
Nathan Crooks at
[email protected]
Michael McSweeney at
[email protected]