The SUI token is down 20% this week and now greater than 83% off its all-time excessive at $0.89.
The Sui layer-1 blockchain suffered downtime for the second consecutive day on Friday.
The community has a historical past of outages, with three vital occasions this 12 months alone.
The native token of the Sui blockchain, SUI, is down 20% on the week as its layer-1 blockchain has suffered a “community stall” inflicting downtime for the second consecutive day.
Just lately altering palms at $0.89, SUI is down an extra 2% within the final 24 hours and is now greater than 83% off its January 2025 all-time excessive of $5.35. Its weekly decline has positioned it among the many 5 worst performing belongings of the final week among the many prime 100 cash by market cap, in response to information from CoinGecko.
“Sui mainnet is presently experiencing a community stall. Community exercise could also be paused right now,” the community’s group posted on X on Friday morning, greater than two hours in the past as of this writing.
Sui builders shared the similar message on Thursday when the layer-1 blockchain went down for greater than 5 hours earlier than a patch was rolled out to validators, bringing the community again on-line—quickly.
Exercise on Sui mainnet has resumed after a halt because of a crash bug within the fuel charging logic launched by the 1.72 launch. A full incident overview can be shared within the coming days.
— Sui (@SuiNetwork) Could 28, 2026
Whereas a full postmortem of the incident remains to be to return, the community indicated that its Thursday outage was a results of a bug launched in its newest launch.
It’s unclear if Friday’s outage is expounded to Thursday’s incident or the following patch. A consultant for the community nor Mysten Labs, the core group behind it, instantly responded to Decrypt’s request for remark.
The outages come only a few months after the agency reported the same community stall in January, which led to six hours of downtime for the layer-1 blockchain’s mainnet.
Hailed as a “Solana-killer,” the community has been plagued with among the similar points because the speedy layer-1 community, which equally handled main outages prior to now.
Sui was launched in 2023 by Mysten Labs and raised a $300 million Collection B in 2022, giving it a valuation round $2 billion on the time. Even with its latest decline, the community’s token presently trades with a market cap of round $3.6 billion.
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