Sui mainnet suffers second straight day of outages; SUI extends weekly slide to 20%

CoinDesk reported that Sui's mainnet suffered another outage on Friday, temporarily freezing on-chain activity. It was the network's second consecutive day of disruption, reviving investor concerns over stability. SUI fell about 2% over the past 24 hours, bringing its weekly decline to roughly 20%. The token recently traded at $0.89, more than 83% below its all-time high of $5.35 set in January 2025. CoinGecko data shows SUI among the worst weekly performers within the top 100 cryptocurrencies by market capitalization. An official said the mainnet was temporarily suspended. The Sui team said on X that the chain was experiencing a "network stall" that could halt on-chain activity. The team later confirmed the network had resumed, attributing the disruption to a crash vulnerability in the gas billing logic introduced in version 1.72. A full incident retrospective is expected in the coming days. The latest failure follows a string of malfunctions this year. In January, Sui disclosed a similar mainnet halt that lasted about six hours. Reports say Sui has now recorded three major outages in 2026, including the latest incident. Sui was launched by Mysten Labs in 2023. Mysten raised $300 million in a Series B round in 2022 at an implied valuation of about $2 billion. Despite the recent price slump, SUI's market capitalization stands at around $3.6 billion. Often compared with Solana, Sui's back-to-back disruptions are again spotlighting the stability challenges facing high-performance public blockchains. For developers and users, long-term mainnet reliability remains a key determinant of ecosystem activity.