Summary Points
- Sui’s blockchain experienced its second outage in five months, caused by a bug in its recent 1.72 update affecting gas charging, leading to a nearly 6-hour network stall.
- Despite operations resuming, validators are still operating at “degraded performance,” with a detailed incident review underway.
- SUI’s price dipped briefly during the outage but quickly recovered, with the token trading near $0.925, down 17% over the past week amid broader crypto market weakness.
- Past outages, including one in January and another in November 2024, highlight recurring stability issues for Sui’s network.
Sui Network Experiences Second Major Outage in Five Months
Network Disruption and Technological Challenges
On May 28, Sui Network faced its second significant downtime within five months. The blockchain was offline for nearly six hours before operations resumed. The cause? A bug linked to its recent 1.72 update, which affected how the network charges gas fees. This update was meant to improve performance, but it introduced new issues. The Sui team confirmed that mainnet activity has now restarted. However, validators still operate under “degraded performance” status, indicating ongoing technical problems. Earlier outages have also happened; in January, Sui was down for more than six hours, and in November 2024, a bug caused validators to crash. These recurring issues highlight ongoing challenges in maintaining network stability.
Impact on Price and Market Sentiment
During Thursday’s outage, SUI’s token price briefly fell from $0.95 to $0.89 but recovered quickly. Currently, it trades near $0.925, with a 1.5% gain over the past 24 hours. Earlier in May, SUI reached nearly $1.40, the highest since January. This rally followed a large token stake by Sui Group Holdings, which removed about 3% of the circulating supply from the market. Investors also grew optimistic about upcoming developments, such as the launch of CME Group SUI futures and a partnership with African payments firm Paga. Despite short-term gains, SUI remains nearly 17% lower over the past week amid broader crypto market weakness.
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