- Sui Community will deal with latest distribution points and restore staking rewards on October twenty seventh.
- Regardless of the rise in buying and selling exercise, Sui costs have fallen lately.
- Technical indicators are displaying weak momentum as a bearish MACD and low RSI counsel continued value stress.
Sui Community introduced a repair for a difficulty that was breaking staking reward distribution. This repair is scheduled for October twenty seventh at 17:30 UTC, the beginning of epoch 564, and will resolve the difficulty that began in epoch 560.
Moreover, the Sui staff urged customers to not unstake till epoch 564 to make sure they obtain all earned rewards. This occurred after the community recognized a bug after the epoch modified at 10:30 AM Pacific Time.
The community has confirmed that though the distribution of staking rewards was interrupted, there was no lack of funds and the distribution course of was restored at epoch 563 and is scheduled to start on October twenty sixth at 10:30am PT. I’ve confirmed.
Influence on Sui token value
The staking bug coincided with Sui value fluctuations. Sui value was $1.79, down 6.80% prior to now 24 hours. The token is ranked twenty first in market capitalization with a lower of 6.81% to $4.94 billion.
Regardless of the worth drop, buying and selling exercise surged, with quantity reaching $851.66 million, reflecting a 74.63% enhance.
sauce: coin market cap
Moreover, Sui confirmed firmness round $1.9187, however the value plummeted within the night and reached a low of round $1.70 within the early morning. The downward motion subsided within the morning with some modifications and a slight restoration to the present value stage of $1.79.
The MACD indicator reveals a bearish setup because the MACD line is under the sign line and is supported by an growing crimson histogram bar. This sample signifies continued bearish momentum and means that downward stress on SUI costs could proceed.
sauce: TradingView
The RSI additional helps this evaluation, presently sitting under the impartial 50 mark at 45.54, suggesting weak momentum.
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