sui down 👇
$SUI , a layer-1 blockchain network, experienced a significant outage on November 21, 2024, lasting over two hours. The incident occurred when the network stopped producing blocks at 9:15 UTC, causing its native token, SUI, to drop nearly 10% to $3.24. According to reports, the validators, responsible for transactions and security, appeared to be offline, but the exact cause remains unclear.
*Key Details:*
- *Outage Duration:* Over 2 hours
- *Block Production Halt:* 9:15 UTC
- *Token Price Drop:* Nearly 10% to $3.24
- *Cause:* Unclear, but validators seemed offline
*Possible Reasons:*
- *Technical Issues:* Bug in the network's scheduling logic
- *Structural Weakness:* Some critics argue that Sui's design may be flawed
- *Market Reaction:* Uncertainty and panic selling
