20 Million New SUI Tokens Push Treasury To New High – Details

SUI Group Holdings moved again in the market, adding 20 million SUI to its holdings and lifting its total to about 102 million tokens, a stash worth roughly $344 million at current prices. Related Reading: No Fireworks, Just Grind: Bitcoin Could Drift To $1M Over 7 Years: Analyst The Minnesota-based company, which trades on Nasdaq under the ticker SUIG, bought the tokens through an arrangement tied to the Sui Foundation, a press release dated September 3 shows. The deal, reports have disclosed, gives SUI Group access to discounted, locked tokens that are not available on the open market. Crypto Holdings And Staking Most of the company’s close to 102 million SUI is being actively staked, treasury update Shows. That staking currently yields about 2.2% annually. Based on the figures released, staking income translates to roughly $20,000 in daily rewards credited to the treasury. The firm also reported nearly $60 million in liquid cash, a war chest it says will help it pursue more buys of discounted tokens. Investors have a new yardstick to watch: SUI per share. As of September 2 that metric stood at 1.14 SUI per share, calculated against a fully adjusted share count of 89 million common shares outstanding. After the announcement, SUI traded up about 4%, rising from a daily low of $3.20 to as high as $3.40. The token, however, remains well below its January peak of $5.36. Exclusive Deal With Sui Foundation The arrangement with the foundation is central to the story. By purchasing locked SUI at a lower cost, SUI Group creates a cushion between its book value and what retail buyers see on exchanges. That cost-basis advantage was described in the release as a deliberate part of the firm’s plan to grow its treasury while aiming to “fund further purchases” through accretive capital raises. The move resembles how some public companies concentrate an asset on their balance sheet, though it is being done here with tokens rather than traditional holdings. Related Reading: XRP Faces Crucial Test With ETF Approval Chances Now At 87% Among The Biggest The coin’s price bump shows the market took the news seriously but did not overheat in response. Reports have noted that holding more than 100 million tokens places the company among the largest single holders in the Sui ecosystem, which naturally draws attention. Featured image from Meta, chart from TradingView