Sui is poised for a significant supply event as 64.19 million SUI tokens, valued at approximately $147.65 million, are scheduled for release on April 1st. The unlock represents 2.03% of SUI’s circulating supply, which currently stands at 3.17 billion tokens. Market watchers are concerned that the increase in supply could trigger selling pressure.
According to data from Tokenomist, only 31.7% of the network’s 10 billion maximum token supply has been released. With over 5.22 billion tokens scheduled for release after 2030, Sui remains in a long-term emission phase.
The April unlock follows a March event in which an equal number of tokens—64.19 million SUI—entered circulation, valued then at $181.67 million.
Ecosystem Expansion and Liquidity Shifts
The token unlock comes amid major shifts in Sui’s decentralized finance activity. The monthly decentralized exchange trading volume has reached $5 billion. The stablecoin market cap within the network has climbed from $370 million in December to $628 million by the end of March, indicating growing user engagement.
However, the network’s total value locked (TVL) has declined. Data shows a fall from a January peak of $2.08 billion to $1.2 billion, reflecting broader market downturns and reduced capital allocation to Sui-based protocols.
Despite this, the network has hit several milestones. Canary Capital has filed for a SUI-linked exchange-traded fund, adding institutional visibility to the project. Meanwhile, Sui has surpassed 100 million total accounts, signaling significant user growth.
New Launch from Mysten Labs Adds to Momentum
The upcoming unlock coincides with the launch of Walrus Crypto, a decentralized data storage initiative created by Sui’s founding team at Mysten Labs. Walrus launched its mainnet on March 27 after raising $140 million. It aims to provide secure, decentralized data storage for artificial intelligence and machine learning applications.
The Walrus team emphasized its distinction from existing solutions. “Filecoin can’t do this. Yet it’s a $2 billion project,” the group posted on social media, underscoring its approach to privacy and decentralization.
Walrus has already attracted strategic partnerships. Plume Network has adopted the platform for secure data storage in compliance-heavy industries. TradePort, a multichain NFT trading platform, is operating a validator on the network. Linera, a new Layer 1 blockchain, is using Walrus to support its scalability and security goals.
As Sui continues to roll out its scheduled emissions, developments in infrastructure, adoption, and institutional activity will likely shape market responses in the weeks ahead.
