Breaking: Sui Network Back Online After 2-Hour Outage, Price Slips

Decentralized Layer-1 blockchain Sui Network faced a major downtime with no blocks produced in the last few hours. The data from Suivision showed that the network faced a “major outage” as some validators faced problems with approving transactions. SUI price tumbled 10% but recovered as the network started processing transactions again.

Sui Network Faced Major Outage

The Sui Network has been down for more than two hours, according to reports from Suivision. The blockchain didn’t produced any blocks since 09:15 UTC today.

The Sui community members have reported issues with some validators, and the team is currently investigating the cause of the disruption. The official handle on the X platform has acknowledged this downtime:

“The Sui network is currently experiencing an outage and not processing transactions. We’ve identified the issue and a fix will be deployed shortly. We appreciate your patience and will continue to provide updates.”

Dubbed the Solana-killer, this is the first time that the Sui Network has been facing such an outage. Referring to the past outages for Solana, the crypto community members have been taking jabs at Sui. Some wrote “No wonder Sui is the next Sol” while others called it a “Solana moment. Bullish”. It has also triggered a meme frenzy with “first time?” tags on the X platform.

According to SanXz, the Sui Network is actually not down. The analyst added that the Sui team is actively investigating an RPC issue related to validators, which has caused disruptions.

However, one user ‘reisen’ responded to this analysis by saying: “Having nodes/validators operational is useless when no blocks are produced – So not producing blocks for 1:50h is equivalent to being down”.

Price Tumbled 10% During Downtime?

While the SUI price might see some volatility as the network resumes transactions, the community hasn’t turned bearish yet. One X platform handle Bullishify.sui wrote:

“Sui pulling a Solana? Remember when $SOL went down in Dec 2020, then ripped 1000% right after? $SUI like, ‘Yeah, we’re following the script too.’ Buckle up, fam!”

The SUI price recovered after dropping 10% over the last 24 hours, and currently trading at $3.63. As per CoinGape analysis, SUI price can rally to $18 with 750% gains on the monthly timeline and more than 500% gains on the yearly timeline.