- SUI launched its first U.S.-listed 21Shares 2x Long Sui ETF (TXXS) on NASDAQ.
- Token handled more than $180 billion in stablecoin transactions for four months in a row.
- A near six-hour outage affected transactions, impacting over $1 billion in on-chain activity.
Sui reached a notable institutional milestone after the launch of the 21Shares 2x Long Sui ETF (TXXS) on NASDAQ. The product marks token’s first U.S.-listed investment vehicle and debuted as a leveraged ETF, a rare development for a relatively young layer-1 blockchain asset.
The ETF offering indicates a rising level of institutional confidence in the market, since leveraged products are known to require a high degree of liquidity. Analysts have observed that products of this type are typically launched for assets that have shown a high level of trading activity.
Sui is processing over $180 billion in stablecoin transactions for four straight months, as per a recent post by Altcoin Buzz. The continuous processing rate is a testament to its liquidity and makes it a viable asset for derivative traders and institutional investors looking at regulated products.
SUI Blockchain Recovery Protects Over $1 Billion
However, the Sui blockchain was restored to its normal operation following a network failure that paused transactions for close to six hours. The Sui Foundation acknowledged the issue at 3:24 pm UTC, saying that the team of core developers was actively fixing a “consensus outage” that prevented users from conducting transactions on the high-speed network.
According to the Foundation, it started investigating the problem at 2:52 pm UTC and solved it at 8:44 pm UTC, thus allowing the usual flow of transactions to continue after a period of 5 hours and 52 minutes when more than $1 billion in on-chain value had been locked.
Also Read | Sei Active Users Sees 100% Growth With the Price Eyeing a Target Above $0.15
Reliability Questions Emerge Amid Comparisons
Wednesday’s disruption marked tokens second major outage since launching in May 2023, following a similar incident in November 2024. There were comparisons drawn with Solana, a network that experienced historical outages but has since prevented network-wide outages for the last eighteen months after implementing upgrades for validator coordination.
Despite this disruption, SUI price action still had limited effects. The token briefly surged by 4% after the disruption, but it settled down to approximately $1.84.
According to data from CoinGecko, prices still had limited fluctuations, suggesting markets viewed the disruption as operational rather than structurally damaging to token’s broader outlook.
Also Read | Solana (SOL) Price Strengthens After $10.8M ETF Inflows, Bulls Target $180
