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.
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