SUI Survives Two-Hour Outage Without Dropping Below $3

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As an analyst with over two decades of experience in the tech and crypto industries, I’ve seen my fair share of network outages and bugs. However, the recent incident with Sui was particularly intriguing due to its unique cause – a DOS bug leading to integer overflow.

Today, around midday, the Layer-1 blockchain Sui encountered a two-hour interruption in its operations, which halted block production and prevented transaction processing. This network failure temporarily caused a drop in SUI‘s price, decreasing from $3.73 to $3.64.

Even though there were fears it might drop further, the price leveled off when the project declared that their network had been completely repaired and was functioning again.

Sui Comes Back Online, Altcoin Still in Good Position

At approximately 10:52 UTC, security firm ExVull revealed that a Denial-of-Service (DoS) issue was responsible for the downtime on the Sui network. In simpler terms, this problem is an attack on software where it’s flooded with too much traffic or requests, making the system inaccessible to legitimate users either by causing it to crash or significantly slowing its performance.

Following our investigation, we discovered that the Sui Network node experienced a Denial-of-Service (DoS) issue as a result of an integer overflow, according to ExVul’s report.

After this incident, various exchanges temporarily stopped processing SUI transactions due to a slight drop in value. Approximately two hours later, the project informed its public that validators had successfully resolved the problem they encountered.

After a brief outage due to a technical issue with transaction scheduling, the robust Sui network is once again operational and handling transactions. This swift recovery can be attributed to the dedicated efforts of our remarkable community of Sui validators. The 2-hour downtime was triggered by a bug that caused validator crashes, which has now been successfully addressed.

During the outage, it was observed that the Sharpe Ratio stayed positive, according to data from Messari. The Sharpe Ratio is a significant metric used to evaluate risk-adjusted returns, representing the extra return generated by an investment in relation to its risk or volatility.

This method allows investors to determine if the potential rewards from a more volatile investment are proportionate to the risk involved. A larger ratio indicates superior risk-controlled returns. Normally, if the ratio is less than zero, it suggests that the risk may not outweigh the benefit.

In other words, because the altcoin has tested positive for SUI, it suggests that buying and holding it at its current price may continue to bring profitable results.

SUI Price Prediction: Run Above $4

On a daily basis, Swiss Franc (SUI) trades inside an upward-trending channel, which can also be referred to as a rising channel or a channel that points upward. This pattern on the chart is formed by two lines that gently slope upwards.

It forms when the price shows higher swing highs and higher swing lows, indicating an ongoing uptrend. Furthermore, the Chaikin Money Flow (CMF) has increased, suggesting that buying pressure has outpaced distribution.

If the current trend persists, it’s possible that the price of SUI may surpass $4. Yet, should another Sui network outage occur, such an increase might be prevented, and instead, the value could plummet to less than $3.

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2024-11-21 21:48