Sui Blockchain Faces Second Consecutive Day of Downtime, SUI Token Drops 20%
The SUI token has fallen 20% this week and is now more than 83% off its all-time high of $5.35, trading at $0.89. The Sui layer-1 blockchain experienced a network stall for the second consecutive day on Friday, causing downtime. The network's team initially posted about the stall on X, and after about three hours, developers resolved the issue. According to their statement, both halts were due to an interaction between the 1.72 release, which introduced Address Balances, and gas charging logic. Thursday's outage lasted over 5 hours before a temporary patch was applied, which had a low-probability bug leading to Friday's stall. A long-term fix has now been implemented by validators. Sui has a history of outages, including a six-hour halt in January 2025. The network, launched by Mysten Labs in 2023 and hailed as a 'Solana-killer,' has faced similar issues to Solana's past downtime. Despite the decline, SUI has a market cap of around $3.6 billion.
Key facts
- SUI token down 20% weekly, 83% below ATH of $5.35, trading at $0.89.
- Sui mainnet stalled for second consecutive day on Friday, May 29, 2026.
- Bug in v1.72 release caused both outages; long-term fix deployed by validators.
- Network has history of outages: 5+ hours Thursday and 6 hours in January 2025.
- SUI market cap still ~$3.6 billion despite recent decline.