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The daily transaction volume on the Sui blockchain dropped by over 98%, seven days after reaching a historical peak on July 27. 
Sui Network is among the newly-launched blockchains that have taken the crypto industry by storm in 2023. Accordingly, the network recorded significant adoption from the crypto community. This resulted in millions of daily transaction blocks and total transaction blocks on the Sui network. 
However, the layer-1 blockchain designed to improve digital asset ownership recently experienced a considerable decline in 24-hour transaction blocks. 
On Thursday, a prominent Chinese reporter, Colin Wu, noticed this surprising development. “After reaching a historic peak of 65.84 million transaction blocks on July 27, the daily transaction volume on the Sui blockchain experienced a huge decline,” Wu tweeted. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 After reaching a historical peak of 65.84 million transaction blocks on July 27th, the daily transaction volume on the Sui blockchain experienced a huge decline. 
 On August 2nd, the number of transactions on the Sui had dropped to approximately 1.479 million, accounting for only… 
 <a href="https://twitter.com/WuBlockchain/status/1686933709092790272?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 3, 2023</a> 
</blockquote> 
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<a href="https://thecryptobasic.com/2023/08/03/sui-network-24h-transaction-volume-plummets-98-to-record-low/" rel="noopener noreferrer nofollow">Read more</a>

Sui Network 24H Transaction Volume Plummets 98% To Record Low

TheCryptoBasic

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