The Sui Network blockchain has been down for more than two hours, and no new transaction blocks have been produced since 9:15 AM UTC on November 21.
The network confirmed the outages through its official X account and announced that it is temporarily unable to process transactions because it shares its layer-1 infrastructure with another blockchain in the network.
The Sui team informs the users that the error has been detected, and a patch to resolve the problem will be released soon. According to the Sui Vision, which provides the latest data, the blockchain does not generate any block following the specified time, ceasing operations on the network.
Service Announcement: The Sui network is currently experiencing an outage and not processing transactions. We’ve identified the issue and a fix will be deployed shortly. We appreciate your patience and will continue to provide updates.
— Sui (@SuiNetwork) November 21, 2024
SUI Token Experiences Decline
If that is the case, the impact of the SUI token sank. The token is now trading at $3.41, down approximately 1.78% in the past hour. In the last 24 hours, it has dropped to 7.29%, but on the other hand, it has been up by nearly 75% in the last month.
Sui Network’s problems seriously affected the South Korean exchange Upbit and stopped deposits and withdrawals for SUI tokens. Regarding the outage, Upbit notified its users that they could not regain the money they deposited or withdrew during the outage.
The outage has led others in the crypto space to chim in and comment, such as Sui, who has been very vocal about their intention to dethrone Solana. This chain has become rather notorious for holding outages, with the latest one having occurred in February. A user said, “Sui is just copying Solana history,” and a Crypto YouTuber, Ajay Kashyap, dismissed Sui as a “Solana Killer”.
