SUI Price Drops as Sui Blockchain Goes Down for Over an Hour

On November 21, 2024, SUI price dropped by around 11% as the Sui blockchain went down for over an hour, from around $3.39 to a low. The issue occurred when the Sui network failed to produce new blocks, causing concerns in the crypto community about the system’s operability. The specific cause of the issue is still unknown, but the Sui development team is investigating to fix the situation.

SUI had recently seen a 30% price increase in the previous month, but this incident has reversed that positive trend, suggesting a risk factor in investing in this altcoin. Investors may be starting to take profits after booking profits from the previous rally, and selling pressure may continue to persist in the short term if market sentiment does not improve.