Is Sui Network In Trouble?

TURBOS and SUIA on Sui Network experienced sharp declines, with official addresses selling tokens at listing, raising quality concerns. Previously, TURBOS announced that it would refund IDO users.

Recently, two ecological projects, TURBOS and SUIA, on the Sui Network experienced a sharp decline in their price. According to Wu Blockchain, some exchanges believe that the official addresses sold their tokens at the time of listing based on on-chain data. Both projects were endorsed by Jump and Sui officials, raising concerns about the quality of Sui’s ecological projects.

Recently, two ecological projects TURBOS and SUIA on the Sui Network went alive and experienced a sharp decline in their price. Some exchanges believe that the official addresses sold their tokens at the time of listing based on on-chain data. Both projects were endorsed by Jump… pic.twitter.com/YmGAqfPGLk
— Wu Blockchain (@WuBlockchain) May 18, 2023

After the opening, TURBOS unlocked about 40% of its tokens. It later stated that it will refund users who participated in the IDO.

Dear community, we heard your voice about $TURBOS public sale.
To act as a responsible and trustworthy leader in SUI ecosystem, we decided to refund the public participation.
Stay tuned for more details.
Community confidence and satisfaction is the king.
— Turbos Finance (@Turbos_finance) May 17, 2023

This is a developing story: We’ll update the situation as we learn more.

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Thana

Coincu News

Source: https://news.coincu.com/188375-shocking-decline-turbos-suia-token-prices/