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<a href="https://bitcoinworld.co.in/solana-surpasses-ethereum-in-user-activity-amidst-surge-in-meme-coins-like-book-of-meme/" title="Solana Surpasses Ethereum in User Activity Amidst Surge in Meme Coins like ‘Book of Meme’" rel="nofollow"></a>
The Solana network experienced a surge in user activity over the weekend, surpassing Ethereum in total trading volume.&nbsp; 
However, the network struggled to keep up with the influx, leading to frequent transaction failures and delays. 
Solana’s 24 hour trading volume reached nearly $3 billion on March 17, beating out Ethereum’s daily volume of $2.04 billion.&nbsp; 
The network also reached a new record of $3.79 billion in trading volume on March 15.&nbsp; 
The surge in activity was driven by a speculative frenzy for new Solana-based memecoins. Book of Meme (BOME) rallied from near-zero to a market capitalization of $1.45 billion in just 56 hours. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/coinbase-solved-solanas-delayed-sends-solana-sol-surges-above-200/" aria-label="“Coinbase Solved Solana’s Delayed Sends; Solana (SOL) Surges Above $200” (Edit)">Coinbase Solved Solana’s Delayed Sends; Solana (SOL) Surges Above $200</a> 
The surge in trading activity overwhelmed the Solana network, causing ping times to spike and transaction failures to increase.&nbsp; 
<a href="https://explorer.solana.com/">According</a> to data from Solana Validator, Solana’s ping time ran as high as 46 seconds on March 18, resulting in approximately 30-40% of transactions failing. 
However, this hasn’t stopped the price of Solana (SOL) rallying to $203, up 8.69% over the past 24 hours and 45% in the last week alone.&nbsp; 
Solana’s market capitalization also reached a new all-time high of $89.3 billion, overtaking BNB (BNB) to become the fourth-largest cryptocurrency by market cap. 
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The post <a href="https://bitcoinworld.co.in/solana-surpasses-ethereum-in-user-activity-amidst-surge-in-meme-coins-like-book-of-meme/">Solana Surpasses Ethereum in User Activity Amidst Surge in Meme Coins like ‘Book of Meme’</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Solana Surpasses Ethereum in User Activity Amidst Surge in Meme Coins like ‘Book of Meme’

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