SUI Bounces Back from Key Support as Lion Group Plans Crypto Treasury Acquisition
SUI has recovered from its $2.58 support as Lion Group Holding plans to acquire SUI, SOL, and HYPE for its crypto treasury.
SUI Bounces Back from Key Support as Lion Group Plans Crypto Treasury Acquisition
SUI has recently seen trading levels around $2.6481, marking a 2.03% decrease in the last 24 hours after stabilizing near $2.58. This bounce was part of a V-shaped recovery amid heightened trading volumes, demonstrating strong demand at the $2.60 mark.
Lion Group Holding Ltd. announced intentions to use funds from a $600 million convertible facility for acquiring SUI, SOL, and HYPE tokens for its crypto treasury. They have recently executed a $2 million acquisition of HYPE tokens at an average price of $37.30. CEO Wilson Wang indicated that HYPE is considered essential for future capital market structures.
Technical Insights:
- SUI fluctuated between $2.58 and $2.70, indicating a 4.5% fall from peak to trough.
- A recovery pattern emerged from $2.58 to $2.63 following resistance at $2.66, suggesting cautious optimism around SUI.
Disclaimer: Portions of this article utilized AI tools for generation and have undergone verification to comply with our editorial standards. For further insights, refer to our AI Policy.
