Sui Network Staking Fix Set for October 27: Can SUI Price Rebound?
Sui Network is scheduled to resolve its staking rewards issue on October 27, 2024, at 17:30 UTC with the launch of epoch 564. The issue, which affected reward distributions for epochs 560 to 563, did not result in any loss of funds or rewards.
Despite the disruption, SUI's price initially dropped by 6.8% to $1.70 but has since recovered to $1.79. Trading volume also surged by 25%, reaching $625 million, signaling strong investor anticipation ahead of the fix. The network has advised users not to unstake their tokens until the new epoch begins to ensure they receive the delayed rewards.
Market analysts predict a possible SUI price recovery after the fix, with potential gains driven by restored investor confidence. With slight bullish momentum and increased trading activity, SUI may see a price rally to $3 in the near term. Technical indicators show positive signs, with the MACD line crossing above the signal line, suggesting an uptrend.
As the staking issue is resolved, many investors are positioning themselves for a potential price breakout, betting on a significant recovery for SUI.
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