Earlier today, the SUI layer-1 blockchain experienced a two-hour outage, halting block production and making transaction processing impossible. This network outage led to a slight drop in the price of SUI, which fell from $3.73 to $3.64.
Despite fears of a further drop, the price stabilized after the project announced that the network had been fully restored and was operating normally.
Sui Back Online, Altcoin Still in Good Shape
At around 10:52 UTC, web3 security firm ExVull revealed that a DOS bug caused the Swee network to go down. Known more fully as a denial-of-service (DoS) attack, the bug refers to a software attack that floods a system with excessive traffic or requests, making it unavailable to legitimate users by disabling it or significantly slowing its functionality.
“After our analysis, it was found that the Swee Network node suffered a DOS due to an integer overflow,” ExVul stated.
Following this development, several exchanges halted SUI transactions as the price also dropped slightly. However, after about two hours, the project updated its community, saying that validators had helped resolve the issue.
“The SWI network is back up and processing transactions, thanks to the quick work of the amazing SWI validator community. The two-hour downtime was due to a bug in the transaction scheduling logic that caused validators to crash, which has now been resolved,” he explained.
Meanwhile, data from Messari showed that, amid the disruption, the Sharpe ratio remained positive. The Sharpe ratio is a key measure of risk-adjusted return, indicating how much excess return an investment generates relative to its volatility.
It helps investors assess whether the returns of riskier assets justify the risks taken. A higher ratio indicates better risk-adjusted performance. Typically, when the ratio is negative, it means the risk may not be worth the reward.
However, since it is positive for SUI, it suggests that consolidating the altcoin around its current value may still yield positive returns.
SUI Price Prediction: Over $4
On the daily chart, Sui continues to trade within an ascending channel. An ascending channel, also known as a rising channel or rising channel, is a chart pattern characterized by two parallel lines sloping upward.
This pattern is formed when the price shows higher swing highs and higher swing lows, indicating a continued uptrend. Furthermore, the Chaikin Money Flow (CMF) has increased, indicating that buying pressure has exceeded distribution.
If this continues, the price of SWI could rise above $4,000. However, if the SWI network is down again, this may not happen. In this scenario, the value could drop below $3,000.
