SuiNetworkannouncedafixforitsbrokenstakingrewarddistribution.Thefix,scheduledforOctober27at17:30UTC,thestartofepoch564,shouldresolveissuesthatbeganinepoch560.
PSA:FollowingthediscoveryofthebugtriggeredbyThursday\'sepochchange,pleasebeadvisedthattheimplementedfixwillnowgolivewithepoch564onSunday,October27at10:30amPT.Suiusersshouldavoidunstakinguntilepoch564hasbegun.
Networkoperationsremain…https://t.co/FVZBCFWDlC
—Sui(@SuiNetwork)October26,2024
Additionally,theSuiteamurgeduserstoavoidunstakinguntilepoch564toensuretheyreceiveallearnedrewards.Thiscomesafterthenetworkidentifiedthebugfollowingtheepochchangeat10:30AMPT.
Thenetworkconfirmedthatwhilestakingrewardsdistributionwasinterrupted,nofundswerelost,andthedistributionprocesswouldberestoredatepoch563,expectedtogoliveonOctober26at10:30AMPT.
ImpactonSuiTokenPrice
ThestakingbugcoincidedwithpricefluctuationsforSui.Suitradedat$1.79,down6.80%overthepast24hours.Thetokenranks#21inmarketcapitalizationat$4.94billion,aftera6.81%decrease.
Despitethepricedrop,thetradingactivitysurged,withvolumereaching$851.66million,reflectinga74.63%increase.
Source:CoinMarketCap
Moreover,Suidisplayedresilienceataround$1.9187,butthepriceexperiencedasharpdeclineintheevening,reachingalowofapproximately$1.70intheearlyhours.Thedownwardmovementsettledinthemorning,withsomeshiftsandaslightrecoverytothecurrentpricelevelof$1.79.
TheMACDindicatorrevealsabearishsetup,astheMACDlinehascrossedbelowthesignalline,supportedbyincreasingredhistogrambars.Thispatternindicatesongoingbearishmomentum,suggestingthatdownwardpressureontheSuipricecouldlast.
Source:TradingView
TheRSIfurthersupportsthisanalysis,currentlysittingat45.54,belowtheneutral50mark,signalingweakmomentum.
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