Sui price is down 70% from its record high, but analysts anticipate a rebound ahead.
However, the project's token economics shows that it has allocated 14% of its 10 billion SUI supply to investors. Mysten Labs has not revealed when it would distribute these tokens or any vesting schedule associated with them yet.Regarding FTX Ventures, a subsidiary of the now-defunct FTX crypto exchange, Mysten Labs
the stakes held by the firm in April 2023. Furthermore, it took back the rights to buy SUI tokens previously held by FTX for about $96 million.Traders and analysts have shown their conviction in the Sui project's goals to become an attractive blockchain alternative. However, there are also concerns about SUI's supply schedule.
A pullback scenario could have the token eye $1.26 as its short-term downside target. And suppose the oversupply scenario prevails. Then, the price could drop to $1.21 on May 5 or over the weekend, down 7% from current prices.
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