koinmilyoner
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Bullish
🔥 SUI Eyes $4 Breakout — Cetus Vote Could Be the Game-Changer
The Sui Foundation provides an on-chain voting code allowing community members to retrieve stolen monies.
Regaining control of the frozen money requires 24 'yes' votes after 34 in favor.
SUI rises as voting starts and bug bounty is extended to protocols with $50 million TVL.
As validators and the community vote on a special transaction to send the hacker's Cetus cash to a multi-sig account, Sui (SUI) trades at $3.70, up over 6% at press time on Wednesday. During voting, the Sui Foundation loaned Cetus money to cover user losses.
On May 27, at 8:00 PM UTC, the Sui Foundation started voting on a protocol update for the future version that allows one-time authentication of two special transactions. These hard-coded transactions move stolen funds to a multi-sig receiving wallet using the attacker's two wallet addresses as senders. OtterSec, Cetus, and the Sui Foundation will manage the wallet.
The voting period is 7 days, with a 48-hour early pass. Except for abstainers, 50% of the stake must support the proposition to pass. Note that weighted stake voting for the transfer must surpass weighted stake voting against it.
The Sui Explorer reports that 34 of 114 validators are in favor, with 80 still undecided. Interesting, Galaxy Digital, a digital asset platform, voted for the upgrade early. An further 24 yeses are needed to reach 50% of the vote, 58.
SUI advances 5.22% on Tuesday, with a roughly 1% extended rise indicating positive momentum and better confidence. On a bullish engulfing candle, the cryptocurrency rebounds off the 50-day EMA at $3.40.
Between the closing price of $5.29 on January 9 and the starting price of $1.92 on April 7, the Fibonacci retracement is $3.60, the 50% midway line. As SUI passes the midway mark, profit booking may be difficult around $4 and $4.56, the 61.8% and 78.6% levels.
#sui #Bitcoin2025 #ETHMarketWatch #TrumpTariffs #SaylorBTCPurchase $SUI $CETUS $BTC
The Sui Foundation provides an on-chain voting code allowing community members to retrieve stolen monies.
Regaining control of the frozen money requires 24 'yes' votes after 34 in favor.
SUI rises as voting starts and bug bounty is extended to protocols with $50 million TVL.
As validators and the community vote on a special transaction to send the hacker's Cetus cash to a multi-sig account, Sui (SUI) trades at $3.70, up over 6% at press time on Wednesday. During voting, the Sui Foundation loaned Cetus money to cover user losses.
On May 27, at 8:00 PM UTC, the Sui Foundation started voting on a protocol update for the future version that allows one-time authentication of two special transactions. These hard-coded transactions move stolen funds to a multi-sig receiving wallet using the attacker's two wallet addresses as senders. OtterSec, Cetus, and the Sui Foundation will manage the wallet.
The voting period is 7 days, with a 48-hour early pass. Except for abstainers, 50% of the stake must support the proposition to pass. Note that weighted stake voting for the transfer must surpass weighted stake voting against it.
The Sui Explorer reports that 34 of 114 validators are in favor, with 80 still undecided. Interesting, Galaxy Digital, a digital asset platform, voted for the upgrade early. An further 24 yeses are needed to reach 50% of the vote, 58.
SUI advances 5.22% on Tuesday, with a roughly 1% extended rise indicating positive momentum and better confidence. On a bullish engulfing candle, the cryptocurrency rebounds off the 50-day EMA at $3.40.
Between the closing price of $5.29 on January 9 and the starting price of $1.92 on April 7, the Fibonacci retracement is $3.60, the 50% midway line. As SUI passes the midway mark, profit booking may be difficult around $4 and $4.56, the 61.8% and 78.6% levels.
#sui #Bitcoin2025 #ETHMarketWatch #TrumpTariffs #SaylorBTCPurchase $SUI $CETUS $BTC
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