Solana Network Overwhelmed by Trump-Themed Memecoin Surge
- The Solana network experienced severe congestion due to a spike in interest in Donald Trump-themed memecoins.
- Phantom, a Solana wallet provider, reported over 8 million requests per minute, leading to transaction failures.
- Jito’s Block Engine API faced severe degradation from unprecedented load levels.
- Coinbase and Binance also struggled with the increased demand, affecting their Solana infrastructure.
- Mert Mumtaz of Helius Labs identified technical issues like high volatility and software bugs as contributing factors.
The Solana blockchain faced significant congestion as demand for Trump-themed memecoins surged, overwhelming services like Phantom with over 8 million requests per minute and impacting platforms such as Coinbase and Binance.
Source (2.6.1)https://cryptoslate.com/solana-infrastructure-tested-by-unexpected-donald-trumps-memecoin-traffic/?rand=24433
