Sui Network Fixes Staking Reward Bug, Advises Users to Hold Off on Unstaking
- Sui Ntwork rsolvd stking rwrds bug on Octobr 27th, rstoring norml oprtions for usrs.
- SUI pric fll by 11.44% from Octobr 24-25 but rboundd to $1.80 by Octobr 26.
- Anlyst CryptoMichNL ss $1.50 s strong ntry lvl if SUIs pric corrction continus.
Sui Ntwork, Lyr 1 blockchin iming for high throughput nd low ltncy, hs ddrssd rcnt bug tht impctd th distribution of stking rwrds. Th fix, implmntd tody, Octobr 27th, 2024, rsolvs n issu tht bgn during th poch chng on Octobr 24th.
Whil th bug disruptd th distribution of rwrds for pochs 560, 561, 562, nd 563, Sui Ntwork mphsizd tht no stking rwrds or stkd funds wr lost during this tim. Th ntwork dvisd usrs to rfrin from unstking thir tokns until th fix is implmntd to nsur thy rciv ll ccumultd rwrds.
W implmntd fix tht gos liv with poch 564 on Sundy, Octobr 27th t 10:30 AM PT, Ntwork nnouncd vi Twittr. Sui usrs should void unstking until poch 564 hs bgun. This stp sks to nsur usrs do not los ny ccumultd rwrds nd to rturn oprtions to norml.
SUI Price Declines Amid Market Correction
Th stking issu coincidd with notbl fluctution in th pric of SUI, th Ntworks ntiv tokn. Btwn Octobr 24 nd Octobr 25, th pric of SUI xprincd n 11.44% dclin du to combintion of ntwork-spcific nd brodr mrkt fctors. Howvr, on Octobr 26, th tokn bgn to rcovr, nd it is now trding t $1.80 2.73% incrs ovr th lst 24 hours.
CryptoMichNL, widly rspctd nlyst, commntd on th sitution, stting, Mrkts hv bn corrcting, nd $SUI hs sn 30% corrction ftr gint run. Th nlyst notd tht th tokn is pproching ky zon of intrst, signling potntilly fvorbl ntry point for invstors.
CryptoMichNL highlightd trgtd pric rng round $1.80 s strtgic strting point for building position. If th pric corrction prsists, h idntifid th $1.50 lvl s nothr strong ntry opportunity, indicting tht this pric lvl could srv s foundtion for potntil rcovry.
In ddition, th Rltiv Strngth Indx (RSI), momntum indictor, currntly sits t 46.83 on th 1-dy timfrm. This vlu, hovring blow th nutrl midpoint of 50, suggsts tht slling prssur slightly outwighs buying intrst.
This nutrl-to-brish zon indicts tht it my xprinc mor sidwys or downwrd movmnt in th nr trm unlss buying prssur rbounds. Howvr, dip in th RSI closr to 30 could signl ovrsold trritory, potntilly prsnting buying opportunity for mrkt prticipnts.
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Read more: https://www.tronweekly.com/sui-network-fixes-staking-reward-bug/
Text source: TronWeekly
