Sui Network Goes Down for Second Straight Day as Weekly Token Slide Hits 20%

The native token of the Sui blockchain, SUI, is down 20% this week as the layer 1 blockchain suffered a “network stall” that caused a second straight day of downtime.

SUI recently changed hands at $0.89 and is down another 2% in the last 24 hours and is now down over 83% from its all-time high in January 2025 at $5.35. The weekly decline makes it one of the five worst performing assets last week among the top 100 coins by market capitalization, according to data from CoinGecko.

“Sui Mainnet is currently experiencing a network outage. Network activity may be interrupted at this time,” the network team posted on X on Friday morning. About three hours later, the developers said the day two issue had been resolved and the network was back up and running.

“Both today and yesterday’s outages are due to the interaction between release 1.72, which introduced address balances, and gas charging logic,” they say. wrote Friday. “Yesterday’s implemented solution was an interim measure intended to restore network functionality while the Sui Core Team worked on a long-term solution.”

“The interim solution had a known issue that was unlikely to cause a shutdown. This morning the network encountered a variation of the known issue and shut down,” she added. “As of now, the long-term fix has been implemented by validators, fully addressing known issues caused by the original bug, and network activity has resumed.”

On Thursday, the layer 1 blockchain was down for more than five hours before a patch was rolled out to validators, temporarily bringing the network back online.

While a full postmortem of the incident is yet to come, the network indicated that Thursday’s outage was the result of a bug introduced in the latest release.

The outages come just a few months after the company reported a similar network outage in January, which led to six hours of downtime for the mainnet of the layer 1 blockchain.

Hailed as a “Solana-killer”, the network is plagued by some of the same problems as the fast Layer-1 network, which similarly suffered major disruptions in the past.

Sui was launched in 2023 by Mysten Labs and raised a $300 million Series B in 2022giving it a valuation of around $2 billion at the time. Even with the recent decline, the network’s token currently trades with a market cap of around $3.6 billion.

Editor’s note: This story was updated after publication as the fix was implemented.