Trader Eugene: Recently, the strength of SUI may indicate an early positioning situation, and the specific degree of impact is difficult to quantify.

On July 29, trader Eugene Ng Ah Sio posted on his personal channel that he believes the recent strong price of SUI may be related to insiders' early positioning in the "SUI treasury news" trades (though the extent of the impact is difficult to quantify). Based on this judgment, although he does not believe this will constitute significant Unfavourable Information, he has chosen to take profits and close his long positions as he cannot accurately assess how many positions in the market have already reacted to this news. BlockBeats previously reported that today, non-bank lending institution and financial company Mill City Ventures III, Ltd. (NASDAQ:MCVT) announced that it has signed a securities purchase agreement to invest in public equity through private investment, purchasing and selling 83,025,830 shares of common stock at a price of $5.42 per share, with an expected total return of approximately $450 million (after deducting placement agent fees and other issuance costs). The company plans to use approximately 98% of the net proceeds from the private sale to acquire the native Token SUI of the Sui Blockchain, and about 2% of the net proceeds from the private sale to support the company's short-term lending business. SUI will serve as the company's main financial reserve asset.