Coinbase New York Listing Sparks 21% SUI Price Surge

SUI rocketed 21% in a single day after Coinbase opened trading for New York users, crushing fears tied to the network’s biggest-ever token unlock.

The sudden rally turned heads on Wall Street and in crypto circles alike. Traders who expected the fresh supply to crush the price watched in shock as buyers stepped in hard instead.

Coinbase confirmed Tuesday that New York residents can now buy, sell, and hold SUI on both its website and mobile apps. The exchange had kept the token off-limits in the state for months because of strict local rules.

New York carries huge weight in finance. Even though only a slice of Coinbase’s total users live there, the green light acts like a stamp of approval for many big investors who wait for that exact clearance before jumping in.

Trading volume on Coinbase for SUI jumped more than 150% within hours of the announcement. On-chain data shows large wallets moved fresh capital into the token right after the news hit.

The New York listing flipped the script on what many called the most dangerous unlock in SUI’s history.

Biggest Unlock Ever Meets Strong Hands

Late Monday, the Sui network released 64.19 million tokens worth roughly $86.9 million at the time. That marked the largest single unlock since the project launched.

Unlock events usually spark selling because early investors and team members finally get access to coins they held for months or years. In the days leading up to this one, the price drifted lower as traders positioned for the worst.

Yet only hours after the tokens hit wallets, Coinbase dropped its New York surprise. Buyers flooded the market and absorbed the new supply without letting the price crack.

One major analytics firm reported that exchange inflows of SUI actually dropped after the unlock, a clear sign that holders refused to sell at lower levels.

Technical Breakout Signals More Gains Ahead

The price surge carried SUI above the middle band of the Keltner Channel with expanding volume, a classic sign of real accumulation rather than a short squeeze.

Key levels now sit in plain view:

• $1.92 acts as the final wall from the November downtrend
• A clean break there would flip the chart structure bullish
• Next major target sits near $2.72, the October pivot high

Daily RSI climbed above 70 but has not yet flashed extreme overbought readings seen at past local tops. That leaves room for another leg higher if buyers stay aggressive.

Why New York Matters So Much This Time

New York regulators run one of the toughest licensing programs in the United States. Any token that earns the BitLicense or limited-purpose trust charter instantly gains credibility with banks, funds, and family offices.

Several institutions told reporters they had SUI on watch lists but could not touch it until the state gave the green light. Tuesday’s move removed that final hurdle.

The quick reversal highlights a shift in market psychology. Investors now treat major exchange listings as stronger catalysts than scheduled supply events.

SUI has climbed more than 450% since the start of 2024, yet still trades far below its all-time high near $5. The combination of growing exchange access and improving fundamentals keeps drawing fresh money.

The past two days proved that real demand can overpower even the scariest unlock on the calendar. For thousands of New York traders locked out until now, the door just swung wide open, and the market wasted no time rushing through it.