The planned change would remove Sui asset management from Phantom while leaving assets on the Sui blockchain.
Sui fell from $1.19 to $1.15 in one hour, while long liquidations reached $260,000 and short liquidations totaled $0.
Sui was up 2.71% over 24 hours at 1:32 a.m. ET on Sept.
Sui (SUI) was up 7.25% over 24 hours at 3:37 a.m. ET on Sept.
Sui rose from $1.17 to $1.21 in one hour, while short liquidations reached $90,000 across three major exchanges.
The products give market participants access to futures tied to SUI and decentralized finance across the Sui ecosystem.
SUI broke its descending channel as stronger trading and network activity supported the 16.59% rally.
Misreporting in DeFi can undermine trust, highlighting the need for accurate information and transparency to maintain user confidence and market stability. AlphaFi reportedly winding down after misconfiguration, SUI Foundation role unclear.
The token is up 19.86% from 24 hours earlier and ranks 27th by market value at about $4.88 billion. Short positions worth $140,000 were liquidated in the same hour, against $10,000 in longs.
Sui rose from $1.13 to $1.17 by 4:32 p.m. ET on Sept.
SUI reclaims key support as gasless fees and confidential payments reshape its long-term case.
Sui reached $1.13 on Binance spot markets at 11:02 a.m. ET Friday, with long liquidations exceeding short liquidations in the latest hour.