Sui Network Goes Down for Hours, Just Months After the Last Downtime

Built to compete with other fast layer 1 blockchains, the Sui Network once again suffers from the same ills that rival Solana once faced: downtime.

The ‘network outage’, which was first identified and investigated on Thursday morning, has resulted in a major network outage lasting more than five hours while the Sui team works on a solution.

“Sui Mainnet is currently experiencing a network block,” the blockchain posted around 10:30 a.m. ET on X. “Please note that transactions may be paused at this time. Updates will be shared as they become available.”

An update from the Sui network status page at 3:40 p.m., ET notes that a “fix is ​​being rolled out to validators.”

The network’s latest stall comes just five months after a similar event hit the tier 1 mainnet in January with more than six hours of downtime. That’s what the network was for addressed a significant validator issue in 2024 which prevented transactions from being processed.

Although the network’s engineers identified the problem shortly after it began investigating it, no fix has been implemented at the time of writing. according to the blockchain status page.

Amid the downtime, the network’s native token – SUI – may have been slightly affected by the event. Over the past 24 hours, it has fallen 5.4% to trade at $0.92, surpassing the losses of Bitcoin, Ethereum and other top coins.

Earlier this year, the first SUI ETFs hit the market, with products from Canary and Grayscale offering both exposure to the SUI token and reward access to traditional investors through equity markets.

The network’s native token hit a new all-time high of $5.35 in January 2025, but has since fallen more than 82%.

Launched in 2023, the network was developed by Mysten Labs, a spin-off of Meta’s Diem project. The network previously raised $300 million in a Series B round and values ​​it at $2 billion in 2022.