An incident tarnishes the meteoric rise of the crypto SUI, often nicknamed the “Solana Killer”. The eponymous blockchain stopped producing blocks for more than two hours, causing the price of the token to drop sharply. As the crypto community debates the reasons behind this outage, voices are wondering whether this event will weaken or strengthen Sui's reputation.
Breakdown at Sui: causes still unclear
The Sui blockchain, renowned for its ambition to surpass Solana and opponent of Litecoin, experienced his first big technical misstep. This morning, at 9:15 UTC, block production came to a grinding halt. More than two hours later, no recovery was in sight.
According to data from follow-up And suiscan, validators — these network gatekeepers responsible for transactions and security — appear to be at the heart of the problem.
The official website status.sui.io confirms: “ The validators are offline, the investigation continues. »
However, no additional details on the origin of this outage or a resolution timetable have been shared by the technical team.
On X, the reactions are flowing:
- PeckShieldAlert indicates a delay of more than one hour between two produced blocks;
- WantCoinNews sees this situation as a challenge: “ This kind of breakdown can either destroy trust in the chain or strengthen it » ;
- Ben Armstrong, aka BitBoy, quips: “ There you have it, Sui officially becomes the new Solana! »
This interruption cost the token dearly, including the price fell almost 10% in 24 hoursreaching critical support at $3.24 (1.618 Fibonacci extension). A possible recovery could, however, bring the price back to $4.97.
The crypto community divided over this incident
The Sui outage has reignited tensions in the crypto community, already accustomed to the setbacks of blockchains like Solana. Some mention a structural weaknesswhile others see it as just a passing crisis.
For optimists, Sui remains a promising blockchain, capable of rebounding. Indeed, before this breakdown, the token had reached a new all-time high in this market cyclea rare feat among current altcoins. Others, more critical, wonder: can the decentralization and speed promised by Sui guarantee sufficient reliability?
Some figures show the immediate impact:
- 7% drop in price in the first hours following the announcement;
- A total loss of 10% over the day;
- A price stabilized at $3.24, awaiting a possible recovery.
Quinten Francois, crypto analyst, sums up the issue well:
“ The Sui team's response to this incident will be decisive for the future of this blockchain. »
Finally, despite this setback, SUI remains one of the five cryptos recommended by Grayscale for the end of 2024, alongside projects like Helium. One more reason to keep an eye on this ambitious blockchain.
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