Sui Market Dynamics: Weekly Contraction Amidst Longer-Term Gains
Sui experienced a notable weekly price contraction, declining by 9.60% over the past seven days, yet it maintains a positive 17.26% gain over the last 30 days. The asset's 7-day realized volatility has significantly decreased, while its correlation with Bitcoin remains consistent. This period sees a reduction in leveraged exposure, primarily impacting long positions, as the broader crypto market sentiment remains in a state of 'Greed'.
Sui Price Action and Volatility
Sui's price action this week saw a 9.60% decline, bringing its spot price to $1.00, contrasting with a 17.26% increase over the last 30 days. The 7-day realized volatility stands at 45.23%, which is notably below its 90-day baseline of 85.52%, indicating a more subdued price environment despite the recent downturn. Against Bitcoin, Sui underperformed by 12.0372% over the past week, with its pair/BTC ratio decreasing from 0.000014 to 0.000012. However, the asset still holds an 18.9469% relative outperformance against BTC over the 30-day period. The 30-day correlation with Bitcoin is 0.7420, closely aligning with its 90-day baseline of 0.7356. Structurally, Sui remains 81.34% below its all-time high.
Metric | Value |
SUI Price | $1.00 (+3.86% 24h / -9.60% 7d / +17.26% 30d) |
Volume 24h | $744.5M |
Native Quote Vol. 24h | $10.6M |
Market Cap | $4.11B |
Market Cap Rank | 29 |
Circulating Supply | 4.12B SUI |
ATH Distance | 81.34% below ATH |
Metric | Value |
SUI/BTC Ratio | 0.00001200 |
Relative Perf. 7d vs BTC | -12.04% |
Relative Perf. 30d vs BTC | +18.95% |
Sui Speculative Positioning and Liquidations
Speculative positioning for Sui shows a decrease in Open Interest by 9.24% over the past seven days, settling at $0.111 billion, though this figure remains above the 90-day baseline of $0.106 billion. This suggests a recent reduction in leveraged exposure after a period of higher interest. The current funding rate is 0.006949%, with a 7-day cumulative rate of 0.017775%. The 30-day Funding Z-Score of 0.4340 indicates that funding rates are moderately above their 30-day average of 0.004956%, suggesting a slight premium for maintaining long positions. Liquidations over the last seven days totaled $51.8 million, with long liquidations accounting for 75.0% ($38.9 million) and short liquidations making up 25.0% ($12.9 million). The 30-day average liquidation profile shows a consistent directional skew, with long liquidations representing 73.3% of the total, highlighting the vulnerability of leveraged bullish bets during recent price movements.
Metric | Value |
Funding Rate (current) | +0.0069% |
Funding Cumul. 7d | +0.0178% |
Open Interest | $0.11B (-9.24% 7d) |
Liq. 24h Longs | $0M |
Liq. 24h Shorts | $0M |
Liq. 7d Longs | $39M |
Liq. 7d Shorts | $13M |
Metric | Value |
Realized Vol 7d | +45.23% (90d avg: +85.52%) |
Realized Vol 30d | +109.70% |
Corr. BTC 30d | 0.7420 (90d avg: 0.7356) |
Beta vs BTC | 2.4770 |
Volume Momentum | 0.6542x |
Funding Z-Score 30d | 0.43σ |
Turnover Ratio | 0.1813 |
Liq. Intensity | 0.01262 |
Key Monitoring Conditions for Sui
Monitoring conditions for the upcoming week include observing whether Sui's relative underperformance against Bitcoin persists, particularly if its 30-day outperformance begins to erode, which would signal a broader shift in capital flow. A further decline in Open Interest below its 90-day baseline, coupled with a sustained decrease in funding rates, would indicate a more pronounced deleveraging trend and potentially reduced speculative engagement. Conversely, a rebound in 7-day realized volatility towards its 90-day average, alongside an increase in the 24-hour volume momentum, would suggest renewed market activity and potential for a more dynamic price discovery phase. The upcoming Unemployment Claims on October 22nd, with a forecast of 200K, could introduce external market volatility that may interact with Sui's internal dynamics.
Indicator | Value | Variation |
Broad Dollar Index | 121.60 | flat (7d) |
US 10Y Yield | 5.10% | -0.11pp (7d) |
Fed Balance Sheet | $6756B | +$8,079M (7d) |
M2 Money Supply | $23,343B | +$124.9B (1m) |
Fear & Greed | 59 (Greed) | +2 pts (7d) |
Fear & Greed Index: Alternative.me
Sui Weekly Takeaway
Sui concludes the week in a state of internal tension, marked by a recent price pullback and reduced volatility, yet underpinned by a longer-term positive performance against Bitcoin. The derivatives market reflects a period of deleveraging, with Open Interest contracting and long liquidations dominating, suggesting that recent price declines have primarily cleared out excess bullish leverage. This indicates a market that has shed some speculative heat but maintains a base of interest, navigating between short-term corrections and its established longer-term trend, all while remaining significantly below its all-time high.
Disclaimer
This article provides a purely analytical perspective on Sui's market dynamics and should not be construed as investment advice or a recommendation to buy or sell any asset.
