Solana

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<a href="https://optimisus.com/news/crypto-news/solana-sol-drops-by-more-than-24-in-the-last-7-days/" rel="noopener noreferrer nofollow">Solana (SOL)</a> is experiencing praise and critique as it experiences extreme highs and lows. Despite successes, the ecosystem faces hurdles and constant inspection, bringing acclaim and criticism.  
Despite Solana's $2 billion trading volume in April, the network had a 72% transaction failure rate, worrying investors and experts.  
A new meme currency dubbed CoolCoin (COOL) has joined the fray, only to be affected by fraud. Lookonchain, an on-chain analytics startup, reports that a "sniper/insider" dumped COOL tokens on unwary investors. This insider earned $1.68 million in an hour with a large percentage of COOL tokens worth over $20 million.  
Lookonchain warned, “Don’t buy when snipers/insiders are dumping MEMEcoins on you, or you’ll lose heavily as this trader did!”  
Two wallets, perhaps the same, withdrawn monies from the MEXC exchange and used 35.4 SOL ($5,000) to buy 574.27 million COOL tokens.  
Lookonchain tracked the sale of 22.81 million COOL tokens for 11,896 SOL (roughly $1.69 million) across five addresses.  
As another trader lost $152K in 30 minutes, investors should avoid similar frauds. This person spent 1,600 <a href="https://optimisus.com/news/crypto-news/over-21m-in-solana-locked-on-lidos-defi-affecting-thousands/" rel="noopener noreferrer nofollow">SOL</a> on COOL tokens but sold them for 532.58 SOL. This episode highlighted the hazards of meme coin frenzies and market opportunists. 
The post <a href="https://optimisus.com/market/market-news/solana-experiences-high-volatility-including-large-transaction-failures-and-scam-projects/" rel="noopener noreferrer nofollow">Solana experiences high volatility, including large transaction failures and scam projects</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Solana experiences high volatility, including large transaction failures and scam projects

Optimisus

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