Armand Sirignan
Solana is clearly facing some issues as most of the transactions are not completed
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Solana has been facing some issues lately. Approximately 75% of transactions on Solana do not complete successfully. This is when people who are trading meme coins on decentralized exchanges notice that many of their transactions are failing or experiencing problems, especially when they are using Raydium pools. started.
However, this is not just happening to meme coin traders. Regular users of Solana also have trouble moving their money around, including sending it to other wallets and exchanges.
These issues are surprising for Solana, which is typically known for its high throughput and stability. But these issues are now impacting Solana’s value in the market. Looking at the price chart, we can see that Solana’s price is down 5%. One of the reasons behind that reaction could be related to the fact that traders fear further outages.
Solana is currently priced at $174.40, but transactional troubles seem to be reducing people’s confidence in the network in general. The next important price to note is $152.46. This is the 50-day average price and where the price decline may stop. However, if it does not stop here, the price could fall further, perhaps to $132 or even $101.
Solana’s problems are even more ill-timed as the overall crypto market isn’t doing so well right now. Those who have money for SOL, or those who were thinking of buying it, may be concerned about these points.
Recent issues with Solana are making people reconsider, and you can see this concern reflected in SOL’s price. We hope the network can withstand the current pressure and recover successfully.
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Armand Sirignan
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