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SUI Price Drops 70% as SUI Trading Kicked off on Binance

Wed, 05/03/2023 - 13:18
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Yuri Molchan
Binance has launched several trading pairs based on SUI token, but its price is still down 70%+
SUI Price Drops 70% as SUI Trading Kicked off on Binance
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Leading crypto exchange Binance has finally added Sui (SUI) token support and launched trading. Binance changed the initially planned time of the launch to 12:00 p.m. UTC.

Binance lists SUI, OKX, KuCoin to follow

The token can be bought and sold against several other crypto and fiat currencies: Bitcoin, USDT, TUSD, EUR, BNB and TRY.

Traders will not pay maker fees on SUI/USDT, a Binance blog post about the SUI listing says, until a further announcement is issued. It also stated that EUR and TRY are only fiat currencies, and they do not represent any cryptos.

Aside from Binance, several other major exchanges, including Bybit, OKX and KuCoin, are about to launch SUI trading pairs.

Chinese crypto journalist Colin Wu also reported that the official team of the SUI coin has demanded that these exchanges, and Binance as well, do not launch the SUI-based perpetual futures trading.

Still, despite the trading launch, CoinMarketCap data shows that the SUI price is down 70%, trading at $1.31.

Image by CoinMarketCap

Sui Unveils Dev Portal in Preparation for Mainnet Launch, Token Listing

Analyst slams SUI, recommends selling it

Earlier today, Twitter account owner @NorthRockLP mentioned SUI token in their tweet, calling it "complete vapor ware," suggesting that it is based on nothing, and no utility or actual value stands behind it.

The account stated that if investors own more than five billion of these tokens, it would make a great sale.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at