SUI Worth $18.7M To Be Unlocked For Early Supporters on September 3

Last Updated:
Sui(SUI) Stands Strong Despite Latest Market-Wide Selloff
  • Token Unlocks reveals that on September 3, $18.7 million worth $SUI will be unlocked.
  • 35 million tokens are being unlocked for the ACES program, according to Sui Network’s community.
  • SUI reaches milestone of 6 million active accounts, up from 5 million three days earlier.

According to the crypto monitoring platform Token Unlocks, 35.6 million SUI tokens, amounting to 5% of the circulating supply, are due to be unlocked in two days’ time. The September 3 unlock is worth nearly $18.7 million, and almost entirely reserved for early supporters of the network.

According to SUI’s community’s official Twitter account, 35 million out of the total amount is unlocked for the SUI’s Active Contributors and Early Supporters (ACES) program. The program was announced by SUI developer Mysten Labs earlier this year to reward the contributions made by SUI discord members before the mainnet launch.

At the same time, data from Token Unlocks suggested that SUI intends to boost its allocation of tokens designated for staking incentives, raising it from 967,740 to 1 million SUI, equivalent to roughly $540,000.

According to the SUI community’s Twitter account, SUI network reached 6 million active accounts on September 1st, just three days after the network celebrated its milestone of five million active accounts. The team noted that SUI had expanded its user base from 3 million to 5 million in just 14 days, while consistently recording 1 million active accounts per week over the last couple of weeks.

Meanwhile, TradingView data confirmed that the SUI rose by 26% against BTC since last week, a strong showing from SUI in comparison to Bitcoin’s choppy performance of late. At the moment, SUI is trading at $0.5, while its market cap is up by 8%, standing at $403 million, as per CoinMarketCap.