🚨⚠️📉 SUI Drops 5% Amid Blockchain Outage: ‘Solana Killer’ Tag in Danger?

📉 SUI Drops 5% Amid Blockchain Outage
Sui (SUI) fell 5% to $3.49, wiping out $2.17M in long positions as traders were forced to sell. The price drop followed a major network outage, with SuiScan reporting over two hours without block production.

⚠️ Outage Details and Fix
The SUI network confirmed the outage, citing a bug that halted block production. A fix was deployed, and the network was back online at press time. The incident drew criticism on X, with users comparing SUI to Solana, questioning its “Solana killer” status.

📊 SUI vs. Solana: Metrics and Competition
SUI has gained attention for surpassing Solana in decentralized exchange (DEX) volumes. Daily active accounts on SUI jumped from 668,000 to 826,000 in just five days, with total active accounts exceeding 28M. However, Solana’s DeFi Total Value Locked (TVL) surged by 44% month-to-date, reaching $8.39B, while dApp activity rose 81% to $7B.

🚀 Solana’s Stability Advantage
Despite Solana’s past struggles with outages, the network has operated smoothly for months. Its rising transactions and active wallets, combined with a stable network, threaten SUI’s competitive edge. Outages like SUI’s could negatively impact trader sentiment, as seen in the recent price decline.