2024

Solana

April

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Most of the Solana ecosystem tokens are trading in the red today.</li> 
 <li>New reports reveal that Solana scrambles to tackle failed transaction surges and user complaints.</li> 
</ul> 
Solana ecosystem tokens are not looking too good today, with most of the coins trading in the red. On <a href="https://coinmarketcap.com/view/solana-ecosystem/" rel="nofollow noopener" target="_blank">CoinMarketCap</a>, at the moment of writing this article, most Solana tokens are trading in the red. 
The <a href="https://crypto.ro/en/analysis/solanas-monster-activity-flips-ethereum-getting-involved-in-the-ecosystem-without-memecoin-investments/">Solana ecosystem has been a lot in the spotlight</a> lately, mostly due to the massive volatility of the memecoins built on it. 
According to the latest reports, Solana is facing some issues, with about 75% of the transactions not going the way they should. 
The issues are a surprise for the Solana ecosystem, which is usually known for its high rate of stability and throughput, but now it looks like these problems are affecting Solana’s value on the market. 
At the moment of writing this article, Solana is also trading in the red on <a href="https://coinmarketcap.com/currencies/solana/" rel="nofollow noopener" target="_blank">CoinMarketCap</a>, and SOL is priced at $168, down by more than 8% in the past 24 hours. 
<figure id="attachment_38291" aria-describedby="caption-attachment-38291" style="width: 100%" class="wp-caption alignnone">
 <a href="https://coinmarketcap.com/currencies/solana/" rel="nofollow noopener" target="_blank"><img decoding="async" class="wp-image-38291 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/04/SOL_1D_graph_coinmarketcap-1.jpg" alt="Solana" width="772" height="475" title="Solana Ecosystem Faces Issues Due To Failed Transactions 4" srcset="https://crypto.ro/en/wp-content/uploads/2024/04/SOL_1D_graph_coinmarketcap-1.jpg 772w, https://crypto.ro/en/wp-content/uploads/2024/04/SOL_1D_graph_coinmarketcap-1-300x185.jpg 300w, https://crypto.ro/en/wp-content/uploads/2024/04/SOL_1D_graph_coinmarketcap-1-768x473.jpg 768w, https://crypto.ro/en/wp-content/uploads/2024/04/SOL_1D_graph_coinmarketcap-1-750x461.jpg 750w" sizes="(max-width: 772px) 100vw, 772px"></a>
 <figcaption id="caption-attachment-38291" class="wp-caption-text">
 Solana
 </figcaption>
</figure> 
Given the current struggle in the overall crypto market, the timing of the problems with Solana couldn’t have been worse. 
Those who have invested in SOL or were planning to do so are likely experiencing some anxiety regarding these issues. 
Solana’s founders and the Solana community are addressing the problems related to the <a href="https://dune.com/scarn_eth/solana-tx-fail-rate" rel="nofollow noopener" target="_blank">proliferation of failed transactions</a> on the network. 
The other day, Raj Gokal, the network’s co-founder, revealed that the network was working to improve users’ transaction experience. 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 world class engineering teams are working around the clock to push fixes to improve the experience of submitting transactions on <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@solana</a>. 
 I am messaging them multiple times a day asking how it’s going, and they tell me this is a very helpful way to contribute to the solution. 
 — raj <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f5a4.png" alt="🖤" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@rajgokal) <a href="https://twitter.com/rajgokal/status/1775892720227397710?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 4, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Anatoly Yakovenko, Solana co-founder, also posted about addressing the challenges in combating congestion issues on the network. 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 dealing with congestion bugs sucks so much more than total liveness failure. the latter is one and done, bug is identified and patched and chain continues. the former has to go through the full release and test pipeline. shipping fast is impossible <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f62d.png" alt="😭" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f62d.png" alt="😭" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f62d.png" alt="😭" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 — toly <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@aeyakovenko) <a href="https://twitter.com/aeyakovenko/status/1776068458742223143?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 5, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="trading-bots-to-blame-for-solana-s-failed-transactions">Trading bots to blame for Solana’s failed transactions</h2> 
According to the latest speculations, trading bots have been blamed for Solana’s rising transaction failure rates. 
Mert Mumtaz, the CEO of Helius Labs and a vocal supporter of Solana, posted a message on X, and said that the recent <a href="https://twitter.com/0xMert_/status/1771700602629730795" rel="nofollow noopener" target="_blank">surge in failed non-voting transactions</a> on the network is due to trading bots. 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 btw, that failed transactions chart that keeps showing up is not a good way of assessing user impact as most users don't make it there to begin with lol 
 (they get dropped before they are on chain) 
 about 95% of that entire chart is just bots failing arbitrage attempts 
 — mert | helius.dev (@0xMert_) <a href="https://twitter.com/0xMert_/status/1776025107795730588?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 4, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The recent troubles with<a href="https://crypto.ro/en/news/over-21-million-in-solana-sol-locked-in-lidos-defi-protocol/"> Solana</a> are causing people to have second thoughts about it, which is reflected in the declining price of SOL. 
Let’s hope that the network can endure the current challenges and make a successful recovery.

Solana Ecosystem Faces Issues Due To Failed Transactions

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