The cryptocurrency industry had a rather slow weekend with most assets losing rather than pocketing gains. Prominent cryptocurrency SUI was one among them. The altcoin recorded a 22% drop in its price throughout the past week. Amidst this, news of a significant amount of SUI being stolen from an investor’s wallet began surfacing. While the number of bearishness fueled the ecosystem, the asset could witness a change during the second month of the year.

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SUI’s Downtrend

Over the past 24 hours, SUI recorded a massive drop of 13%. The asset was trading at a high of $4.16 earlier today and slid to a low of $3.54 in no time. At the time of writing, the altcoin was priced at $3.61. Amidst this, the volume of the network was witnessing a massive uptick of 181%. Currently, the trading volume of SUI stands at $1.71 billion.

According to reports, hackers took SUI tokens valued at $29 million from a victim’s wallet. Using a bridge, the stolen tokens were transferred to the Ethereum network. The hackers also used Tornado Cash, a site that is known to cover transaction information. Despite taking place in December, the attack was only revealed to the public on January 26.

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February Price Prediction

SUI hit an all-time high of $5.35 earlier this month. The asset has dropped by 32% ever since. Despite its current price conditions, the prediction for SUI remains quite bullish. According to data from CoinCodex, the asset has the potential to surge by a staggering 484% during February 2025. The maximum price that the altcoin will trade at in the second month of the year is $21.28. This highlights the massive growth that SUI will record in a short period of time.

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