The Sui Foundation has publicly denied allegations that it sold locked staking rewards from its $SUI token on the Binance exchange.
In a recent statement, the foundation addressed issues related to the $SUI supply and distributions, firmly refuting the claim that it had sold any staking rewards or other tokens.
This response comes after speculation surfaced online regarding a substantial transfer from the Sui Foundation’s wallet address, “0x341f”.
It was noted that 3.125 million of the total 27 million $SUI were transferred, which some assumed represented the selling of staked tokens. However, the Sui Foundation has firmly knocked back these claims.
Despite these assertions, data shown on CoinMarketCap indicates that the actual inflation rate of the $SUI token is 20% per month.
The SUI token currently holds a market cap of $427.7 million from a circulating supply of approximately 604 million tokens. At the time of publication, SUI was trading at $0.71, marking a 2.4% decrease in value over the past 24 hours.
Further information regarding the locked and non-circulating staked $SUI on Binance has not been provided, leaving room for continued speculation in the market. The initial claim was made by DeFiSquared, but it seems the debate over the situation will continue until more definitive evidence can be presented.
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