The Sui Network outage has compelled the team to explore the situation, as validators can no longer validate transactions.
The decentralized Layer-1 blockchain Sui Network recently experienced significant downtime, with no blocks produced for several hours.
Data from Suivision confirmed a “major outage,” as some validators encountered issues approving transactions.
SUI’s price dropped by 10% during this period but recovered once the network resumed transaction processing.
Sui Network Experiences Major Outage
Reports from Suivision indicated that the Sui Network was down for over two hours, with no blocks produced since 09:15 UTC.
Community members highlighted issues with some validators, and the Sui team began investigating the disruption. On the X platform, the official account acknowledged the situation, stating:
“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.”
Known as the “Solana-killer,” this was the first major outage for the Sui Network. The crypto community reacted with comparisons to Solana’s past downtime, with some comments like “No wonder Sui is the next Sol” and “Solana moment. Bullish.” Memes featuring “first time?” tags also circulated widely on the X platform.
Blockchain analyst SanXz argued that the network was not completely down, describing the issue as an RPC problem affecting validators.
However, a user named ‘reisen’ countered, saying: “Having nodes/validators operational is useless when no blocks are produced – So not producing blocks for 1:50h is equivalent to being down.”
SUI Price Drops 10% Amid Downtime
Despite the downtime, the community remains optimistic about SUI’s future. On the X platform, user Bullishify.sui commented:
“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!”
After a 10% drop during the downtime, SUI’s price rebounded and is now trading at $3.63. Analysts predict significant potential for growth, with projections of a 750% monthly increase to $18 and over 500% annual gains.