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Solana Faces Congestion Amid Trump Memecoin Frenzy

Solana Faces Congestion Amid Trump Memecoin Frenzy

Over the weekend, Solana's blockchain faced heavy congestion as demand surged, fueled by the popularity of memecoins inspired by Donald and Melania Trump.

The sudden spike overwhelmed the network, causing transaction delays and failures across platforms like Phantom and Jito, as well as centralized exchanges like Coinbase and Binance.

Phantom, a leading Solana wallet, struggled to handle over 8 million requests per minute, leading to disruptions despite processing $1.25 billion in trading volume and 10 million transactions in a single day. Jito also experienced severe performance issues, with its Block Engine API impacted by the unprecedented load. Coinbase and Binance reported similar difficulties, with Coinbase scrambling to scale its Solana infrastructure and Binance halting some USDC withdrawals.


READ MORE: Bitcoin Hits Record High as Optimism Grows Ahead of Trump’s Inauguration


Mert Mumtaz, CEO of Helius Labs, attributed the issues to a combination of technical challenges, including volatile memecoin prices, inefficient block usage, fee inconsistencies, and software limitations. While Solana managed to keep block production active, the event underscored the need for improvements in scalability and network resilience.

Mumtaz described the congestion as a valuable stress test, highlighting that such events push developers to address vulnerabilities and better prepare for future surges in demand.

Author
Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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