Sui Network (SUI), a Layer-1 protocol, launched a new feature that supports gasless stablecoin transfers. The feature enables users and businesses to send supported stablecoins without paying gas fees or maintaining a separate SUI token balance.
Sui (SUI) is down roughly 3% at press time on Friday, extending a five-day decline so far this week. Retail demand for the SUI token is waning as the market shifts attention away from underperforming layer-1 tokens. The technical outlook is bearish, pointing to a double-digit drop to $1.00.
Sui (SUI) declines by 3% at press time on Tuesday, extending the downside breakout of a short-consolidation range confirmed the previous day. Retail sentiment is bearish, as evidenced by increased long liquidations and a sharp drop in the funding rate.