SUI Slips to $1.13 as HashKey Listing Fails to Ignite Rally

Edgen Crypto

·Feb 03 2026, 21:46

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Key Takeaways

The SUI token's price declined to approximately $1.13 on February 3, 2026, even as Hong Kong-based HashKey Exchange announced plans to list the token for professional investors. The negative price action suggests a "sell-the-news" reaction from traders, occurring within a broader risk-off market environment.

HashKey Exchange Listing: The SUI/USD pair will become available for professional investors, with over-the-counter (OTC) trading scheduled to begin on February 4 at 16:00 UTC+8.
Negative Price Reaction: In a classic "sell-the-news" event, SUI's price fell below $1.10 before settling near $1.13, demonstrating weakness despite the typically bullish announcement.
Market Context: The token's decline unfolded as the broader crypto market exhibited risk-off sentiment, with Bitcoin holding at $78,000 and SUI's technical indicators signaling oversold conditions.

SUI Price Declines to $1.13 in Sell-the-News Reaction

The SUI token experienced a notable price drop on February 3, 2026, falling to a low below $1.10 before trading near $1.13. This downturn occurred despite the positive announcement of its upcoming listing on HashKey Exchange, indicating a classic “sell-the-news” scenario where traders took profits after the official confirmation. The token’s weakness reflects a broader risk-off sentiment in the digital asset market, which saw Bitcoin hold steady at $78,000.

From a technical standpoint, the price decline has pushed SUI into oversold territory, as indicated by its Relative Strength Index (RSI). The token is currently testing a key support level at $1.12. Any potential recovery would face its first significant hurdle at the $1.20 resistance level, suggesting a period of potential volatility as the market digests the news.

HashKey Opens SUI Trading for Professional Investors on Feb. 4

HashKey Exchange confirmed it will list a SUI/USD trading pair specifically for professional investors, a move designed to enhance institutional access to the token in the Asian market. While deposits and withdrawals for SUI are already live, over-the-counter (OTC) trading is set to commence at 16:00 UTC+8 on February 4. By targeting professional investors, the Hong Kong-licensed exchange aims to foster deeper, long-term liquidity for the SUI ecosystem. Although the immediate price action was negative, the listing could provide a foundation for increased adoption and stability over the long term.