Over a three-day span, Sui Network’s mainnet faced critical failures, ceasing block production three times due to a programming flaw. This series of disruptions escalated stress on the SUI token, driving its value down to a pivotal support threshold of approximately $0.90.
Why Did Sui Network Stop?
The development team recently launched version v1.72 of the mainnet, introducing a controversial “address balances” feature. This addition conflicted with the transaction fee mechanism, causing a standstill during an epoch transition and leading to three significant outages.
“Following the upgrade, Sui Network encountered three mainnet outages. The team confirmed that the issue stemmed from the new ‘address balances’ function clashing with the existing gas system. The network has resumed normal operations, and no user funds were lost.”
In response to the outages, engineers quickly implemented emergency fixes, restoring the mainnet within two days. This marks the second significant shutdown of Sui’s mainnet in 2026, both incidents linked to software enhancements.
How is SUI Coping with Market Pressure?
The immediate consequence was a significant decline in the SUI token’s price, plummeting to below $0.89—its lowest mark in the recent cycle. Over a 20-day period, SUI has depreciated by 37%, exacerbated by automated stop-loss actions and a decline in market sentiment.
This downturn led to liquidations totaling approximately $2 million as SUI hit critical price points. The token’s movement on daily charts demonstrated a small dip of 0.65% as it hovered above the $0.90 mark.
Having slipped beneath the $1.1381 Fibonacci level, SUI erased much of its prior gains, struggling to break past short-term resistance levels around $1.00 and $1.1381. Attempts to recover faced roadblocks between $1.10 and $1.25.
Key insights derived are:
- Current support stands between $0.85 and $0.90.
- Potential new lows could target the $0.75-$0.80 range if the decline continues.
- MACD and RSI indicators underscore a weak market, though RSI hasn’t reached oversold status.
While recent technical adjustments could stabilize the market, many eyes remain on the possibility of further system issues, which present ongoing risks to market stability and investor confidence. Future resilience will rely heavily on overcoming these technical hurdles.
