Key facts
- Suiet said it will stop updating and supporting its self-custodial wallet, with API services ending after November 14, 2026.
- Sui's total value locked stood at about $413 million on Wednesday, down more than 22% over the past month, per DefiLlama.
- Token Terminal data shows Sui averaged about 128,000 daily active users in October, down from 601,000 in November 2025.
- Sui transactions reached 324 million in October, up from 101 million in November 2025, according to Token Terminal.
- Sui experienced four network outages in 2026 totaling around 22 hours of downtime, per Sui Foundation reports.
- Kadan Stadelmann, former CTO of Komodo Platform, said Sui's problems are economic, not protocol failures.
Suiet, a self-custodial wallet built for the Sui blockchain, said in a notice that it will stop updating and supporting its wallet, with API services set to end after November 14, 2026. The shutdown adds to a series of closures and service withdrawals in the Sui ecosystem.
Sui's decentralized finance activity has declined. Its total value locked stood at about $413 million on Wednesday, down more than 22% over the past month, according to DefiLlama data. Token Terminal data shows Sui averaged about 128,000 daily active users in October, down from 601,000 in November 2025, a drop of around 79%.
Other recent closures include the Sui-based hardware wallet project Suiball, which announced its closure on November 10, 2026, and wallet provider Phantom, which ended support for Sui in September. DeFi project Full Sail also shut down following a security incident involving Switchboard that caused about $91,000 in losses.
Despite the decline in active users, transactions on Sui increased to 324 million in October from 101 million in November 2025, according to Token Terminal. Kadan Stadelmann, former chief technology officer of Komodo Platform, told Cointelegraph that Sui's problems seem mostly economic, resulting from expensive engineering costs and low user volume rather than protocol failures. "No flaw in the system's core design has been found," he said.
Sui has experienced four network outages in 2026, resulting in around 22 hours of combined downtime, according to reports published by the Sui Foundation. The network stopped processing transactions for about six hours in January, followed by three more outages on May 28 and 29. The May disruptions were linked to software bugs, including problems introduced by a network update, the Sui Foundation said at the time. The Sui Foundation said no user funds were at risk during its May disruptions.