Swarm Network faces oversupply challenge after $13 million funding
The token TRUTH of the decentralized data verification protocol Swarm Network fell more than 15% after launching on major crypto exchanges, as early holders and airdrop recipients rushed to take profits.
Swarm Network, which transforms raw off-chain data into verifiable on-chain information using AI, is developing with the support of the Sui ecosystem and has raised a total of $13 million in funding. Of this, $10 million came from the sale of agency licenses within the Sui network, and $3 million from strategic investors such as Sui, Ghaf Capital, Brinc, Y2Z, and Zerostage.
According to the developers, Sui’s support followed Swarm’s participation in the inaugural SuiHub global accelerator in Dubai, which had participants from 52 countries and an exceptionally high approval threshold of 1.3%, underlining its competitiveness.
The growing demand for data verification is evident from Swarm Network’s sale of over 10,000 Agent BUIDL licenses, enabling users to configure and train AI agents without coding.
Oversupply outweighs market optimism
However, CoinMarketCap analysis shows that 2.08 billion TRUTH tokens (about 21% of total supply) was more than enough to cap the price at its $0.16 launch level. Although TRUTH briefly rose above $0.17, it mostly traded in the $0.13–$0.14 range, about 15% below its initial price.
TRUTH price dynamics over the past 24 hours. Source: CoinMarketCap
Despite this, demand for verification services like those offered by Swarm remains. The project team is expected to accelerate platform adoption while managing token supply and introducing staking mechanisms. If a large portion of tokens remains locked, selling pressure may ease and the TRUTH token price could rebound.
As we wrote, Falcon Finance token drops 30% after Binance, Bybit listing
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