Solana

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 <p class="paragraph">Solana (SOL) has reached significant heights in popularity during the ongoing crypto market rally as its price <a rel="noopener noreferrer nofollow" title="skyrocket" href="https://thebittimes.com/tag/skyrocket.html">skyrocket</a>ed in the last two quarters, and its meme coin scene started again bursting with life.</p>
 <p class="paragraph">Indeed, the blockchain is the home of perhaps the most prominent newcomer – Dogwifhat = which recently became one of the highest-priced notable meme coins in history and spawned its own set of rapid rags-to-riches stories.</p>
 <p class="paragraph">Given the activity, it doesn’t come as a surprise that Solana hasn’t been bereft of mishaps, issues, and plain fraud of late. For example, a developer of the Slerf (SLERF) meme coin accidentally deleted a significant amount of money right after the project launched and the SolCondom team seemingly pulled off a $1 million rug pull earlier in April.</p>
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 <p class="paragraph">Still, arguably the biggest and most protracted problem has been severe network congestion – reportedly caused primarily by bots engaging in arbitration.</p>
 <p class="paragraph">The problem led to an alarming number of failed transactions and, in fact, if only the non-vote transactions are taken into account, only an average of 25% end in success.&nbsp;</p>
 <p class="paragraph">April 4, for example, saw 20 million successful transactions, and 72 million failed ones, per the data compiled by X user <em>scarn.eth</em>.&nbsp;</p>
 <p class="paragraph">The number of failures started surging in November 2023 shortly after SOL began its journey from $20 to $200 and, indeed, shortly after the current cryptocurrency rally was kickstarted.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/2zXEzlNyWw1cNuyWx8pmJ8fpwtJe0QeUrBW2xucAVuXO-nY9mpHPWcOkRfvl_1OdMkALMnDBSb2AmehH46u-wbN5ds0arm3P0gMCJlioPE4vsx4EVvGORqj4YIjuiJFvW9vbe2Riy_uYt6lZF-5Mq0M" alt>
  <figcaption class="wp-element-caption">
   Solana non-vote transactions fail rate in the last 52 weeks. Source: @scarn_eth &amp; Dune Analytics
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 <h2 class="wp-block-heading" id="h-solana-price-chart">Solana price chart</h2>
 <p class="paragraph">Along with the surge in meme coin activity, the interest and activity on Solana are also being driven by SOL’s staggering rise.</p>
 <p class="paragraph">Indeed, in the last 52 weeks, the token is up 718.40% and the strong performance continued into 2024 as SOL surged another 72.17% year-to-date (YTD).</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/6rRm_sEimriXQYST4xOCS5WMWBibi14VQRP5zwNpvQ62v-67mZSY88mHrZS-rnRQb35yJBSQDdSIhOzd5oankTpxGUdRxDRMYmMYnJvTnPJV3hrDSwpso1ckjejfi8EVVDIeavFrI4YqjdKXu1QFpJg" alt>
  <figcaption class="wp-element-caption">
   SOL YTD price chart. Source: Finbold
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 <p class="paragraph">More recently, Solana has apparently plateaued, at least temporarily since, while it is 30.72% in the green in the last 30 days, it declined 6.45% on the weekly chart. Solana price today stands at $174.46 after a 6.29% 24-hour drop.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-failure-rate-skyrockets-as-bots-take-over-tbt84517.html">https://thebittimes.com/solana-failure-rate-skyrockets-as-bots-take-over-tbt84517.html</a></p>

Solana failure rate skyrockets as bots take over

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