Light: SUI ICO related wallets sold 400 million dollars worth of tokens during the price increase

ChainCatcher news, according to Cointelegraph, the SUI token has risen over 120% in the past month. However, the recent surge has raised allegations of insider selling.

Anonymous analyst Light stated that wallets associated with the SUI initial coin offering (ICO) have sold over $400 million worth of tokens during this increase. Light said, "Insiders have started selling large amounts of tokens at lower prices and are accelerating their sell-off at the current high." This large-scale sell-off could put downward pressure on the token's price.