The post Sui Network Provides Timeline For Staking Fix, SUI Price To Rally? appeared on BitcoinEthereumNews.com.

Sui Network has announced that the fix for its staking reward distribution issue will go live on October 27, 2024, at 17:30 UTC, coinciding with the start of epoch 564. The problem began on October 24 during the transition to a new epoch, which triggered a bug that prevented the distribution of staking rewards for epochs 560, 561, 562, and 563.  Despite this interruption, the network emphasized that no funds or previously earned rewards were lost. Moreover, the restoration of normal operations might trigger renewed investor confidence, leading to increased staking activity and a positive shift in the SUI price. Will SUI Price Recover as Sui Network Plans Staking Fix? The Sui Network encountered a technical issue during the October 24 epoch change that disrupted the distribution of staking rewards. The bug affected the reward allocation for four consecutive epochs, 560, 561, 562, and 563. However, the network clarified that no rewards or staked funds were lost during this period. The fix is set to be deployed on October 27 at 17:30 UTC, aligning with the start of epoch 564. To ensure that users receive the delayed rewards, Sui Network has advised against unstaking until the new epoch begins. Users who unstake their tokens before the fix could miss out on rewards that have otherwise been accumulated during the affected epochs. This recommendation will ensure a smooth transition back to normal operations. SUI Reacts to Staking Disruption Following the staking reward disruption, SUI price experienced a significant decline. The token dropped by 6.80%, reaching a low of $1.70. The dip came as the market reacted to the news of the interrupted reward distribution. The network price has since seen fluctuations, recovering slightly to $1.79, but remains under pressure. The staking issue coincided with a broader market downturn, adding to the…

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Filed under: News - @ October 26, 2024 11:53 pm