Solana

when

Jito

Foundation

dogwifhat

In the last 30 days, the overall cryptocurrency market has been struggling. Amid this, a recent report from Dune Analytics about the Solana Network could create a huge impact on SOL’s price. According to a recent report by scarn_eth, data from Dune Analytics reveals concerning statistics regarding the Solana Network’s performance, impacting the SOL price. Is the Solana network facing challenges? 
The data shows that the Solana network currently struggles with a massive non-vote transaction failure rate of 76.8%. Due to this, huge non-vote transactions can cause issues like transaction delays, disruptions, or even failures when trying to perform transactions on the Solana network.
However, this disclosure byDune Analytics sheds light on a massive technical challenge that Solana faces, largely attributed to the influx of spam transactions generated by Arbitrage bots. The majority of these spam transactions not only hamper the network’s efficiency but also raise questions about Solana’s robustness and scalability. 
In response to these issues, the Solana Foundation has announced its commitment to address the problem promptly. A forthcoming patch is expected to be released soon, aimed at mitigating the impact of spam transactions and bolstering the network’s resilience.
Additionally, this development highlights the ongoing efforts within the Solana ecosystem to tackle scalability hurdles and ensure a smoother user experience. As Solana aims to maintain its reputation as a high-performance blockchain platform, the community eagerly expects the implementation of the proposed solution and its implications for the network’s future. Why Solana’s price is falling? 
Despite the overall <a href="https://news.todayq.com/btc-soars-3-despite-grayscales-85mln-bitcoin-sell-off/" rel="noopener noreferrer nofollow">cryptocurrency market</a> experiencing upside momentum following this Dune report, Solana’s SOL price is down by nearly 5% and is currently trading near $173. If we look at the performance of SOL over a longer period, in the last 7 days, SOL experienced a downside momentum of over 5.5%, whereas, in the last 30 days, SOL’s price is up by 36%
&nbsp;Looking at the above Solana price performance, it is observed that SOL in the shorter time frame is bearish. Additionally, this Dune report also impacted the overall Solana ecosystem as the market is down by over 3.6%, whereas the trading volume is up by 44% and currently stands near $97.7 billion.
Besides Solana’s SOL performance, other top Solana-based tokens like dogwifhat (WIF), Jupiter (JUP), Book of Meme (BOME), Jito (JTO), and many others experienced massive price falls in their value.

Solana hit by 76.8% non-vote transaction failure, SOL drop by 5%

Todayq News

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