💥 Sui Restores Operations Following Two-Hour Outage

Sui, decentralized Layer-1 blockchain. faced a two-hour outage early on November 21 before recovering.

The company addressed the disruption on its X account, attributing the issue to a scheduling bug.

🔸 Sui Network Experiences Two-Hour Crash After User Surge

Sui’s blockchain cited their two-hour downtime due to a scheduling bug. This issue caused its validators to stop producing new blocks, leading to a temporary halt in network operations. Interestingly, the crash comes after the blockchain experienced a surge in active users. From November 7 to 19, their number of daily users jumped from 668,000 to 826,000.

The outage was met with mixed reactions from the community. Some were impressed with how quickly validators were able to nip the issue in the bud. In contrast, others had reasonable concern over the stability of the blockchain and their SUI investments.

💬 “Two hours of downtime for Sui Network? That’s a massive red flag for a blockchain that’s supposed to be cutting-edge,” one X user said.

Users were quick to draw parallels between Sui’s outage and the similar situation Solana’s blockchain experienced in February. On the sixth of the month, Solana had an outage that lasted nearly five hours. Considering that Sui’s blockchain was dubbed as the ‘Solana killer’ for its stability, this recent outage may very well put that nickname in danger.

💬 “SUI, the famed Solana killer, just had a 1-hour outage today. And contrary to what common sense may dictate, this is BULLISH!! It’s truly following the footsteps of the Blockchain its looking to replace. And we know how that went,” another X user added.

Right before the outage, SUI was trading at approximately $3.70, falling to a steep decline of just $3.35 during the incident time. On its road back to recovery, it has nearly reached its pre-crash price, resting at $3.54 at press time.

#SUI #Suinetwork

⚡️ Can Sui Price Soar to $18 After 740% Rally and Outperform Solana?

Sui price is up 740% in four months, outperforming Solana. Can SUI hit $18 or face a correction? Key levels and risks analyzed.

Sui price rally front ran Bitcoin and the entire market, and as a result, the asset has soared over 740% in the last four months. At the current price of $3.79, SUI is Solana’s biggest competitor in terms of popularity and price performance. After soaring 6X from the August 5 market bottom, can Sui still reach $18 and dethrone Solana as the best-performing crypto asset in the top 20?

🔸 Sui Price Outperforms Solana YTD

Sui, a layer one (L1)  blockchain designed to make digital asset ownership fast, private, and secure, has been one of the hottest talks in the crypto space for the past four months. The crypto asset offers direct competition to Solana as the cheapest and fastest L1 chain.

This rivalry can be seen in the respective performance of their native coins. The value of SUI performed much better than SOL year-to-date (YTD), gaining 347% versus 115%.

Nevertheless, when it comes to social dominance, Solana is still leading. Data from Santiment shows Solana’s social dominance spiked on November 17 to 8-month highs, while Sui’s social metric has been dropping since November 10. 

When discussions entailing a particular crypto asset increase, they can precede price volatility. If the discussions entail positive sentiment, it can lead to a price upswing of the asset in question. 

Based on his fractal analysis, crypto analyst Karl (@karl_xbt) predicted that the SUI price could reach $18. Karl identified 50/200 MA and 100/200MA crosses in the last 2 months on the price chart. 

Comparing these to Solana price action, Karl concluded that the crypto asset is likely following in the footsteps of SOL and may rally similarly to Solana in 2021. According to Karl, “this fractal has not failed [him] yet.” 

#SUI #Suinetwork

The price of the SUI cryptocurrency has reached a new all-time high

Sui (SUI) was among the best-performing cryptocurrencies today (January 15), reaching an all-time high price of $1.43 (data from CoinGecko). The last time the coin reached $1.4 was in May 2023 after the launch of the Sui Network mainnet.

SUI's market capitalization has surpassed $1.5 billion, making it the 51st digital asset by this indicator.

CoinGecko Data

The asset's current rise comes amid a broad market correction that followed Bitcoin's sharp rise following the approval of spot Bitcoin ETFs in the United States.

However, SUI is going against the market trend. Today, the total value locked (TVL) on the Sui network soared to a peak of nearly $350 million, after last week's trading volume fluctuated between $30 million and $76 million, according to DefiLlama.
#Sui #SUI- #SUIUSDT #Suinetwork
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The price of the SUI token continues to move up despite the Bitcoin correction

The Sui cryptocurrency (SUI) is still in an upward trend, attracting the attention of investors and traders. Despite stiff resistance at $1.50, the digital asset is showing strong bullish momentum, hinting at future gains. However, SUI has seen a slight price correction in the last 24 hours, causing some uncertainty among investors.

During the correction, SUI price fell to an intraday low of $1.31, where support was found, then rebounded to the $1.40 level. This price action suggests that buying interest in SUI is still strong, and investors may view this correction as a buying opportunity to add to their positions.

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