Sui Network is set to address the recent staking rewards dilemma today at 20:30 Turkey Standard Time, coinciding with epoch 564. This issue arose due to an error during the transition of epochs on October 24, which hindered the distribution of rewards for epochs 560 through 563.
How Did Users React to the Staking Issue?
In the wake of the staking reward problems, SUI’s price experienced a decrease of 6.80%, dropping to approximately $1.70. Although the price has slightly rebounded to $1.79, it still faces market pressure. User interest remains evident, highlighted by a 25% increase in trading volume, reaching $625 million.
What Are the Future Implications for SUI Price?
Market experts suggest that resolving the issue today could restore user faith and lead to a potential recovery for the SUI price. The Sui Network has cautioned users against unstaking their tokens prior to the new epoch, as this can result in forfeiting rewards from the affected epochs.
Currently, the SUI one-hour chart indicates a slight price increase to $1.79, with the MACD indicator reflecting positive trends, suggesting a potential price rise. Analysts note that the currency is in a temporary stagnation phase, with expectations of upcoming movement.
- Timely resolution could enhance the reliability of Sui Network.
- Improved operations may help recover lost value.
- Positive developments could lead to increased investor interest.
Resolving this staking reward issue could significantly bolster Sui Network’s reputation and positively impact the ecosystem. Market participants are hopeful for a rebound in SUI prices following the network’s effective management of this complication.