After a major exploit rocked its top decentralized exchange, the SUI blockchain is showing signs of recovery—both technically and in market sentiment.
Roughly $162 million in stolen assets tied to a smart contract attack were frozen within the SUI network, thanks to an emergency maneuver by network validators who selectively blocked activity from the hacker’s addresses. Another $60 million, however, ended up on Ethereum and remains beyond direct reach.
To recover the rest, the Cetus team and SUI Foundation are coordinating efforts and even proposed a $6 million white hat bounty to the attacker in exchange for returning the Ethereum—promising no legal action if the funds remain untouched.
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Despite the breach, SUI’s native token has risen nearly 4%, with traders shrugging off concerns of centralization. An official statement clarified that validators independently chose to block addresses and can reverse those decisions at will.
From a technical perspective, trader Michael_EWpro believes SUI is completing a textbook Elliott Wave correction. His chart points to a potential bottom near $1.50–$1.80, with a strong rebound possibly pushing the asset as high as $20. Volume data also hints at minimal resistance between $4 and $10, which could support an explosive move if the trend reverses.
While short-term pressure isn’t off the table, bulls are watching closely for signs of a breakout—especially if SUI can confirm its next leg higher from the $2 zone.
Alexander Stefanov
With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.
