⭐⭐SUI Network Outage Causes Token Value to Drop by 10% ⭐⭐
The block production on the SUI network stopped and validators were unable to process transactions, so the problems began to be investigated. After the outage, SUI lost 10% of its value to $3.4.
SUI is being developed by Mysten Labs, which is backed by leading crypto investment firms a16z Crypto, Coinbase Ventures, and Binance Labs. Mysten Labs had previously received $336 million in investment.
Over the past year, SUI has experienced a significant rise, gaining over 500% in value. The SUI network started operating smoothly again after the outage that occurred around 15:15 GMT.
With the network returning to normal, users and validators were able to continue their transactions, overcoming the problems caused by the previous outages.
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