SUI Rebounds From Key Support as Nasdaq-Listed Lion Group Eyes Treasury Purchase
1SUI bounced near $2.58 as Nasdaq-listed Lion Group revealed plans to acquire SUI, SOL and HYPE for its crypto treasury.
Sui SUI$2.8081 SUI$2.8081 is trading at $2.6481, down 2.03% in the past 24 hours, after rebounding from the $2.58–$2.60 support range during the June 26–27 session, according to CoinDesk Research's technical analysis model.
The bounce followed a steep intraday decline from $2.70 to $2.58 but was supported by renewed volume and improved sentiment tied to institutional interest.
A key development came via Lion Group Holding Ltd. (LGHL), which on June 26 announced its intention to acquire SUI tokens as part of a broader $600 million crypto treasury strategy.
In a press release, the Singapore-based Nasdaq-listed firm confirmed a $2 million acquisition of HYPE tokens at an average price of $37.30, marking the first strategic purchase under this program. The company also said it intends to use future proceeds from its convertible debenture facility to purchase SOLand SUI.
CEO Wilson Wang described HYPE as a "foundational execution-first asset" and said LGHL views it as core infrastructure for the future of capital markets. The firm plans to use at least 75% of the net proceeds from each closing of its convertible facility for token acquisitions, including SUI, and the rest for broader crypto operations and working capital.
Lion Group operates a multi-asset trading platform offering services such as total return swaps (TRS), contracts-for-difference (CFDs), OTC stock options, and brokerage for securities and futures. The firm emphasized its growing commitment to layer-1 blockchain ecosystems and said it will continue updating the market on further treasury reserve developments.
This announcement follows heightened activity in the SUI ecosystem, including strong buying at the $2.60 level and a late-session V-shaped recovery on elevated volume, which helped push the token toward its current price. Analysts remain cautious, noting resistance around $2.66, but short-term sentiment appears to have improved.
Technical Analysis Highlights
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
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