Sui [SUI] bounced back to $0.69 on August 3, clinging to its $0.65 support level once more. The network's foundation has been expanding its buyback programme, funded by stablecoin ecosystem yields, but the scale of these purchases remains too small to meaningfully move the needle on circulating supply or trading activity.
The Sui Foundation generated $2.2 million in revenue so far this year, money that flows directly into repurchasing SUI tokens on the open market. That stablecoin ecosystem has swelled to $443.1 million across 3.6 million addresses, creating a steady revenue stream. Recent daily buybacks averaged around $6,000. On August 1, the foundation picked up 8,800 SUI near $0.69, followed by another 8,700 coins the next day at roughly the same price. Since the programme kicked off, roughly 317,500 SUI tokens have been acquired and returned to the ecosystem rather than burned.
The numbers look tidy on paper until you run the math. Those 317,500 tokens represent just 0.008% of Sui's 4.07 billion circulating supply. A typical $6,000 daily purchase barely registers against $100 million in daily trading volume. This buyback initiative works more as a long-term capital allocation story than any near-term price prop. The foundation isn't destroying tokens either, unlike traditional burn models, which means total supply stays intact.
On the technical side, $0.65 to $0.66 is where the real battle lines sit. SUI has defended this zone repeatedly since June. Traders watching volume patterns identify $0.74 to $0.76 as the strongest resistance nearby, putting $0.75 as the next real test. Yet selling pressure dominates the charts. Down-volume hit 21.26 million SUI against 19.32 million in up-volume. The Chaikin Money Flow indicator sits slightly negative at -0.04, meaning capital is still flowing out faster than fresh money arrives.
This material is for informational purposes only and should not be construed as financial advice or investment guidance.
