Will CETUS price recover? Token jumps 20% as protocol upgrade vote nears conclusion

CETUS price continues to mount a recovery as investor optimism grows amid a decisive on-chain vote that could unlock $162 million in frozen funds and pave the way for full user reimbursement following the recent exploit.

Cetus (CETUS) is up 20% in the past 24 hours, currently trading at $0.15, as the token attempts to recover from the fallout on May 22. On that day, CETUS price plunged 30% intraday—from the peak of $0.25 to a low of $0.14—after CETUS DEX had suffered a security breach that siphoned approximately $223 million worth of assets. The price continued to slide in the days that followed, eventually hitting a post-fallout low of $0.12—marking a steep 52% drop from the May 22 peak.

Since May 26, CETUS has shown signs of recovery, climbing to $0.17 before pulling back to its current level. The recent price action suggests a possible consolidation phase as the market digests the impact of the exploit.

If CETUS can break through the local resistance at $0.17 with sustained momentum, the next significant hurdle lies around $0.19. This level marks the lower boundary of the consolidation range where CETUS was trading before the sharp breakout—and subsequent crash—on May 22. A successful move above $0.19 would open the path toward $0.23, a key resistance level where the price faced multiple rejections in May.

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Meanwhile, Cetus is actively working to restore investor confidence through a comprehensive recovery plan. Central to this effort is a protocol upgrade proposal, which, if passed, would authorize the unfreezing of $162 million in assets currently locked by Sui network validators.

If the vote on the proposal passes, Cetus will be able to fully reimburse affected users by combining these recovered funds with a secured loan issued by the Sui Foundation and its own treasury reserves. The Sui Foundation’s loan specifically covers the portion of the $223 million exploit that was bridged off the Sui network before validators froze the hacker’s wallets. Compensation to users is set to proceed regardless of the vote’s outcome, but full reimbursement hinges on its approval.

At press time, over 32% of the necessary votes have been cast in favor—just 18.5% more is needed to meet the approval threshold. Trader sentiment appears cautiously optimistic, with some even speculating that CETUS price could reclaim the $0.25 level, where it was trading before the breach. However, to reach that target, the price must first overcome two major resistance levels: $0.19, the former consolidation floor, and $0.23, a zone where the token faced repeated rejection earlier in May.

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