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SUI and HBAR Slump Ahead of Latest Crypto Token Unlocks

Token prices for Sui (SUI) and Hedera (HBAR) are falling as both projects face an increase in circulating supply later this week. Both have scheduled token unlocks, in which early investors and project team members prevented from selling are finally allowed to do so. They’re put in place to curb selling pressure on tokens. Sui is down 7% in daily trading, currently trading for $0.54, according to data from CoinDesk Indices, while HBAR is down 4% at $0.05. Ethereum’s ether (ETH) is down 0.3%. HBAR surged 15% earlier this month after being integrated into the U.S. Federal Reserve’s FedNow platform, contributing to a 50% price rise.

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