Sui [$SUI] traded near $0.69 on 3 August after once again finding support around the $0.65 level.
The recovery comes as the Sui Foundation expands its stablecoin-funded buyback programme. However, while daily purchases continue to grow, their current scale remains too small to affect $SUI’s circulating supply or trading activity materially.
Stablecoin yield continues to fund $SUI purchases
According to the Sui buyback dashboard, the network has generated approximately $2.2 million in revenue so far this year, including estimated rewards for the current month.
The programme uses yield generated from Sui’s growing stablecoin ecosystem to purchase $SUI on the open market.
Stablecoin balances have reached approximately $443.1 million, spread across 3.6 million holding addresses.
Recent buybacks averaged around $6,000 per day.
The Foundation purchased 8,800 $SUI on 1 August, followed by another 8,700 $SUI on 2 August, both at an average price close to $0.69.
Since the programme began, the Foundation has acquired approximately 317,500 SUI.
Unlike traditional buyback-and-burn models, those tokens are not destroyed. Instead, they are returned to the ecosystem, meaning the programme does not reduce $SUI’s total token supply.
Current buybacks remain modest
Although the initiative demonstrates continued ecosystem revenue, its direct market impact remains relatively limited.
The 317,500 $SUI acquired so far represents only around 0.008% of the network’s approximately 4.07 billion circulating supply.
Likewise, a typical $6,000 daily purchase remains small compared with $SUI’s roughly $100 million in daily trading volume.
That suggests the programme currently serves more as a long-term capital allocation strategy than a short-term price support mechanism.
Can $SUI reclaim $0.75?
From a technical perspective, $0.65-$0.66 remains the key support zone.
$SUI has repeatedly defended that area since June, making it the most important level within the current trading range.
Visible-range volume analysis identifies $0.74-$0.76 as the strongest nearby resistance area, placing $0.75 at the centre of the next major technical test.
Market participation also continues to favour sellers.
Down-volume across the visible range totalled 21.26 million $SUI, compared with 19.32 million in up-volume.
Meanwhile, the Chaikin Money Flow [CMF] indicator remained slightly negative at -0.04, suggesting capital outflows continue to outweigh sustained accumulation.
Holding $0.65 would preserve the current trading range.
A decisive move above $0.75, accompanied by stronger trading volume and a positive CMF reading, would improve the short-term outlook. Conversely, losing $0.65 would increase the risk of another leg lower.
Final Summary
- Sui’s stablecoin-funded buyback programme has purchased approximately 317,500 $SUI, but the acquired tokens are reinvested into the ecosystem rather than burned.
- While the initiative highlights growing ecosystem revenue, its current scale remains too small to materially influence $SUI’s price without stronger market demand and improving technical momentum.