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- Sui Community to revive staking rewards on October 27, addressing latest distribution points.
- Sui’s value noticed a latest decline regardless of a rise in buying and selling exercise.
- Technical indicators present weak momentum as bearish MACD and low RSI trace at continued value stress.
Sui Community introduced a repair for its damaged staking reward distribution. The repair, scheduled for October 27 at 17:30 UTC, the beginning of epoch 564, ought to resolve points that started in epoch 560.
Moreover, the Sui group urged customers to keep away from unstaking till epoch 564 to make sure they obtain all earned rewards. This comes after the community recognized the bug following the epoch change at 10:30 AM PT.
The community confirmed that whereas staking rewards distribution was interrupted, no funds had been misplaced, and the distribution course of can be restored at epoch 563, anticipated to go dwell on October 26 at 10:30 AM PT.
Impression on Sui Token Worth
The staking bug coincided with value fluctuations for Sui. Sui traded at $1.79, down 6.80% over the previous 24 hours. The token ranks #21 in market capitalization at $4.94 billion, after a 6.81% lower.
Regardless of the value drop, the buying and selling exercise surged, with quantity reaching $851.66 million, reflecting a 74.63% enhance.
Supply: CoinMarketCap
Furthermore, Sui displayed resilience at round $1.9187, however the value skilled a pointy decline within the night, reaching a low of roughly $1.70 within the early hours. The downward motion settled within the morning, with some shifts and a slight restoration to the present value stage of $1.79.
The MACD indicator reveals a bearish setup, because the MACD line has crossed beneath the sign line, supported by rising pink histogram bars. This sample signifies ongoing bearish momentum, suggesting that downward stress on the Sui value might final.
Supply: TradingView
The RSI additional helps this evaluation, at the moment sitting at 45.54, beneath the impartial 50 mark, signaling weak momentum.
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