Constructed to compete with different speedy layer-1 blockchains, the Sui community has as soon as extra suffered from the identical ills that rival Solana as soon as confronted: downtime.
The “community stall,” first recognized and investigated on Thursday morning, has led to greater than 5 hours of a significant outage for the community as the Sui crew works on an answer.
“Sui Mainnet is at the moment experiencing a community stall,” the blockchain posted on X round 10:30 a.m. ET. “Bear in mind that transactions could also be paused right now. Updates shall be shared as quickly as they’re accessible.”
An replace to the Sui community standing web page at 3:40 p.m. ET notes {that a} “repair is rolling out to validators.”
The community’s newest “stall” comes simply 5 months after a similar event plagued the layer-1’s mainnet in January for greater than six hours of downtime. Previous to that, the community handled a big validator situation in 2024 that didn’t permit transactions to course of.
Whereas the community’s engineers recognized the situation shortly after it started investigating it, a repair has not but been applied as of this writing, in response to the blockchain’s standing web page.
Amid the downtime, the community’s native token—SUI—could have been considerably impacted by the occasion, falling 5.4% in the final 24 hours to commerce at $0.92 and outpacing losses from Bitcoin, Ethereum, and different prime cash.
Earlier this 12 months, the first SUI ETFs hit the market, with merchandise from Canary and Grayscale each providing publicity to the SUI token and staking reward entry to conventional buyers through equities markets.
The community’s native token made a brand new all-time excessive of $5.35 in January 2025, however has since fallen greater than 82% from that time.
Launched in 2023, the community was developed by Mysten Labs, a derivative of Meta’s Diem mission. The community beforehand raised $300 million in a Sequence B spherical valuing it at $2 billion in 2022.
