Sui Network announced that the problem related to staking rewards would be resolved today at 20:30 Turkey Standard Time with epoch 564. This issue stemmed from an error during an epoch transition on October 24, which prevented the distribution of staking rewards for epochs 560, 561, 562, and 563.
Contents
Impact on SUI Price and User Reactions
Expectations for Recovery and Market Effects
Impact on SUI Price and User Reactions
Following the staking reward issue, the price of SUI dropped by 6.80%, reaching levels around $1.70. However, SUI partially recovered to $1.79, yet remained under pressure. During this period, trading volume increased by 25%, reaching $625 million, indicating that users still showed significant interest.
Expectations for Recovery and Market Effects
Experts believe that the resolution on October 27 will help restore user confidence and may aid in the recovery of the SUI price. Sui Network advised users not to unstake their tokens before the new epoch begins, as unstaking prior to the resolution may result in the loss of accumulated rewards for affected epochs.
The one-hour chart for SUI shows a slight increase to $1.79. The MACD indicator is showing a positive movement, suggesting that the price may be on the rise. Experts indicate that the price is currently in a stagnation phase and anticipate movement soon.
By addressing this issue in a timely manner, Sui Network may enhance its reliability and keep investor interest alive. Returning to normal operations can help restore some of the value lost recently.
The timely resolution of this problem could strengthen Sui Network’s credibility and positively influence the ecosystem. Investors are expecting recovery in the SUI price with positive developments in the network.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
