SUI cryptocurrency exchange rate rebounds sharply after blockchain resumption

The rate of digital coin Sui (SUI) quickly rose to the mark of $3.64 after a temporary failure in the network, which occurred due to an error in the logic of transaction scheduling. Less than 60 minutes ago, quotes of the cryptocurrency were barely above the value of $3.4, having lost almost 10%. It is reported that for about 2 hours, users were unable to conduct transactions, which caused a short-term drop in the value of the asset. However, the development team and network validators promptly fixed the problem by restoring the functionality of the blockchain. Earlier, the project team confirmed that the cause of the malfunction was identified and the prepared fix was quickly implemented. This helped to reduce the negative impact on users and maintain their confidence in the network, as well as stabilize the value of the cryptocurrency, which returned to the 17th position in terms of maximum market capitalization with a result of $10.31 billion. The restoration of the network was accompanied by a sharp increase in the activity of traders, which was reflected in the price chart. Analysts suggest that confidence in Sui’s technical support remains strong, which encouraged investors to return.

Incidents like this emphasize the importance of stability in blockchain. A quick resolution strengthens the reputation of the network and demonstrates the professionalism of the developers. Sui continues to hold its position as one of the key players in the market.

Reminder: a few days ago, developers upgraded the Sui core network to version 1.37.3. In addition, a protocol upgrade to version 68 was launched. The upgrade is designed to increase the performance as well as the security of the blockchain. At this point, it is possible that problems with the stable operation of the network could have been caused by these updates.