Sui Rallies 37% As Nasdaq Firm Locks Up 2.7% Of Supply

Sui(SUI)climbed 37% over the past week to roughly $1.27, decoupling from the broader market after a Nasdaq-listed firm locked up 2.7% of its circulating supply.

Sui Group Staking Triggers Supply Squeeze

The rally was anchored by a treasury move from Sui Group Holdings, a Nasdaq-listed company trading under the ticker SUIG. The firm disclosed it had staked its entire corporate treasury of more than 108 million SUI tokens, worth over $143 million at current prices.

That single transaction pulls roughly 2.7% of circulating supply off the open market, and trader data shows the impact landing fast.

SUI started the week at around $0.94 on May 4 and ripped to a swing high near $1.41 on Sunday, before cooling to the $1.27 zone as short-term traders booked profits. Daily volume surged on the move, and perpetual futures activity tracked higher across major venues. The token now sits roughly 74% below its all-time high of $5.35 set in January 2025.

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McMillin Calls Move a Supply Squeeze

Ryan McMillin, co-founder and chief investment officer at Merkle Tree Capital, an Australian crypto investment manager, described the staking as a "meaningful supply squeeze" and the clearest near-term trigger for the rally. He added that the Nasdaq listing now puts SUI in the same category as Bitcoin, Ether, and Solana for public company treasury exposure.

The staking news did not arrive alone.

At Consensus 2026 in Miami, Mysten Labs co-founder Adeniyi Abiodun confirmed that zero-fee stablecoin transfers will roll out on Sui soon, and reiterated plans for confidential transactions on the network later this year. Earlier in the week, Nigeria-based fintech Paga announced a partnership to launch tokenized assets and cross-border payments on Sui. CME Group also recently launched regulated SUI futures, drawing further institutional interest.

SUI Price Path Into Mid-May

SUI had spent most of March and April grinding in a tight band between $0.85 and $1.10 after a brutal capitulation wick in February. The token shed more than 85% from its July 2025 peak before the recent base formed, and traders had largely written off the chart pattern as dead range.

The breakout flips that view. With nearly 74% of total supply already staked and a major treasury holder removing more from circulation, the float is unusually tight heading into a stretch of ecosystem catalysts.

Whether buyers can hold $1.20 will decide if the rally extends toward $1.50 or fades back into the prior range.

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