Solana Memecoin Surge Causes Delays on Coinbase
- Coinbase CEO Brian Armstrong reports transactional delays on Solana due to a memecoin trading surge.
- Solana’s trading volume reached $22.25 billion in the last 24 hours, surpassing Ethereum’s $6.21 billion.
- Solana generated $35.5 million in fees compared to Ethereum’s $15.7 million.
- Donald and Melania Trump launched memecoins on the Solana network before a presidential event.
- Solana is currently priced at $251, marking a 5.4% increase in the past day.
The recent surge in memecoin activity has overwhelmed Coinbase’s infrastructure, leading to delays in Solana transactions as reported by CEO Brian Armstrong. Solana’s trading volumes have significantly outpaced those of Ethereum, highlighting the network’s current popularity and strain.
Source (2.6)https://dailyhodl.com/2025/01/22/memecoin-explosion-on-solana-overwhelms-coinbase-brian-armstrong-says-firm-not-expecting-this-level-of-surge/?rand=59076
