Trader Eugene: Recently, SUI has been strong or there may be a situation of rat trading, and the specific impact is difficult to quantify

BlockBeats News: On July 29th, trader Eugene Ng Ah Sio posted on his personal channel that he believes the recent price strength of SUI may be related to the early layout of insiders in the "SUI Treasury News" trading (although the degree of impact is difficult to quantify). Based on this judgment, although it is not believed that this will constitute a significant negative, due to the inability to accurately assess how many positions in the market have already reacted to this news in advance, I have chosen to take profits and take long positions. BlockBeats previously reported that Mill City Ventures III, Ltd. (NASDAQ: MCVT), a non bank lending institution and financial company, announced today that it has signed a securities purchase agreement to invest in public equity through private investment, purchasing and selling 83025830 ordinary shares at a price of $5.42 per share, with an expected total proceeds of approximately $450 million (excluding placement agency fees and other issuance expenses). The company plans to use approximately 98% of the net proceeds from private placement to acquire the native token SUI of Sui blockchain, and approximately 2% of the net proceeds from private placement to support the company's short-term loan business. SUI will serve as the company's primary financial reserve asset.