2024

Solana

<p>An incident tarnishes the meteoric rise of the SUI crypto, often dubbed the “Solana Killer.” The namesake blockchain stopped producing blocks for over two hours, causing a sharp drop in the token price. While the crypto community debates the reasons behind this outage, some voices wonder whether this event will weaken or strengthen Sui’s reputation.</p>
<h2 id="h-panne-chez-sui-les-causes-encore-floues">Outage at Sui: the causes still unclear</h2>
<p>The Sui blockchain, known for its ambition to surpass Solana and <a href="https://www.cointribune.com/en/crypto-can-sui-maintain-its-lead-over-litecoin/" target="_blank" rel="noopener noreferrer nofollow">challenger of Litecoin</a>, has experienced <strong>its first major technical misstep</strong>. This morning, at 9:15 UTC, <strong>block production came to an abrupt halt</strong>. More than two hours later, no recovery was in sight.</p>
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<p>According to data from <em><a href="https://suivision.xyz/" target="_blank" rel="noopener noreferrer nofollow">suivision</a></em> and <em>suiscan</em>, <strong>the validators</strong> — the guardians of the network responsible for transactions and security — appear to be <strong>at the heart of the problem</strong>.</p>
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<p>The official site <em>status.sui.io</em> confirms: ” <em>The validators are offline, the investigation is ongoing.</em>”</p>
<p>However, no further details on the origin of this outage or a resolution timeline have been shared by the technical team.</p>
<p>On X, reactions are pouring in:</p>
<ul>
 <li><a href="https://x.com/PeckShieldAlert/status/1859547813816004646?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">PeckShieldAlert</a> indicates a delay of more than an hour between two blocks produced;</li>
 <li>WantCoinNews sees this situation as a test: ” <em>This kind of outage can either destroy trust in the chain or reinforce it</em>“;</li>
 <li>Ben Armstrong, aka BitBoy, quips: ” <em>There you go, Sui officially becomes the new Solana!</em>“</li>
</ul> 
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  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SUIUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
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<p>This interruption has cost the token dearly, with <strong>the price dropping by nearly 10% in 24 hours</strong>, reaching a critical support at $3.24 (Fibonacci extension 1.618). A potential recovery could, however, bring the price back to $4.97.</p>
<h2 id="h-la-communaute-crypto-divisee-face-a-cet-incident">The crypto community divided in the face of this incident</h2>
<p>The Sui outage has reignited tensions in the crypto community, already accustomed to the woes of blockchains like <a href="https://www.cointribune.com/tag/solana-sol/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>. Some mention <strong>a structural weakness</strong>, while others see it as merely a passing crisis.</p>
<p>For the optimists, Sui remains a promising blockchain, capable of bouncing back. Indeed, before this outage, <strong>the token had reached a new all-time high in this market cycle</strong>, a rare feat among current altcoins. Others, more critical, wonder: can the decentralization and speed promised by Sui guarantee sufficient reliability?</p>
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<p>Some figures show the immediate impact:</p>
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 <li><strong>7% drop in price in the first few hours following the announcement;</strong></li>
 <li><strong>Total loss of 10% for the day;</strong></li>
 <li><strong>A price stabilized at $3.24, awaiting a possible recovery.</strong></li>
</ul>
<p>Quinten Francois, crypto analyst, summarizes the stakes well:</p>
<p>” <em>The response of the Sui team to this incident will be crucial for the future of this blockchain.</em>“</p>
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     <p lang="en" dir="ltr">The Sui network is back up and processing transactions again, thanks to swift work from the incredible community of Sui validators.<br><br>The 2-hour downtime was caused by a bug in transaction scheduling logic that caused validators to crash, which has now been resolved. <a href="https://t.co/TJh2zwvQcD" rel="noopener noreferrer nofollow">https://t.co/TJh2zwvQcD</a></p>— Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1859569509687849469?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 21, 2024</a>
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<p>Finally, despite this setback, SUI remains one of the <a href="https://www.cointribune.com/en/5-cryptos-to-watch-for-the-last-quarter-of-2024-according-to-grayscale/" target="_blank" rel="noopener noreferrer nofollow">five cryptos recommended by Grayscale for the end of 2024</a>, alongside projects like Helium. Another reason to keep an eye on this ambitious blockchain.</p>

10% Drop For SUI: Should We Still Believe In It?

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