Sui Network Faces Second Day of Downtime as Token Drops 20%

Sui Network Downtime

The Sui blockchain faced significant operational challenges as it recorded its second consecutive day of downtime due to a "network stall." This incident has contributed to a 20% decrease in the value of its associated SUI token this week, which now trades at around $0.89, over 83% lower than its all-time high of $5.35 in January 2025.

Despite a temporary restoration of services after a patch was applied on Thursday, the network encountered another halt on Friday, raising concerns about its stability. The Sui team had initially reported the downtime on their official X account, indicating that network activity was disrupted.

"Following a crash bug in the gas charging logic introduced by the 1.72 software update, activity on the Sui mainnet has resumed. A comprehensive incident review will be released shortly." — Sui (@SuiNetwork)

While the cause of the Friday outage remains unclear, it follows a similar incident in January, which resulted in six hours of downtime. The recent troubles have placed Sui among the top five worst-performing cryptocurrencies by market cap, according to CoinGecko.

Launched by Mysten Labs in 2023, Sui was initially positioned as a potential competitor to Solana, attracting $300 million in funding and achieving a valuation of around $2 billion. Currently, despite the recent downturn, it maintains a market capitalization of approximately $3.6 billion, highlighting the volatility within the blockchain space.