When the SUI price fell to the $2.9 area, many believed this was a continuation of the Bear Market, but the data seems to tell another story. If SUI were really facing a collapse, we should have already seen a significant decrease in the on-chain total locked value (TVL) and a reduction in ecosystem activity; however, the actual situation is the opposite.

Currently, the on-chain TVL of SUI remains stable, development activities are still active, and addresses of large holders continue to increase their holdings. These are the key indicators for assessing the health of the project. The short-term price fall is more like a market washout, eliminating short-term investors and panic sellers.

From another perspective, the price level of $2.9 is likely not the end of the fall, but rather the starting point of a new round of increases. Investors with vision have already begun to quietly position themselves in this price range. When market sentiment improves and prices start to rise, these early investors may see substantial returns, and they might thank those investors who panicked and cut losses at the bottom.

The market always operates in cycles, and rationally analyzing fundamental indicators is more important than blindly following short-term price fluctuations.