The Solana blockchain is currently going through a period of turmoil as data shows over 75% of user transactions on the network currently failing.
According to CoinTelegraph, the Solana network appears to be struggling with a heightened increase in demand for memecoins leading to about three quarter of user transactions on the network failing.
The 75% fail rate of user transactions is a personal record on the Solana network.
Dune Analytics data shows that on April 4, just over 75% of all “non-vote” Solana transactions failed, the highest failure rate on record. The ongoing failure in user transactions was characterized by an increased outburst by Solana users on social media on the issue.
A pseudonymous trader Altcoin Sherpa posted on X that while he still believed Solana would cement itself as the blockchain network for retail adoption, he noted that the current user experience was currently less than ideal.
In Response, Mert Mumtaz, a vocal proponent of Solana who is also the CEO of Helius a developer platform that helps Crypto applications build on Solana replied that the vast majority of failed non-vote transactions were simply “bot spam. “He disputed the data that over 75% of user transactions were failing on the Solana Network.
Finally, he added that a Solana network upgrade might not fix issue hinting that User experience on the network might remain like this for a while.
Solana CEO Anatoly Yakovenko took to social media to highlight his frustration at the process of improving congestion bugs on the network.
Solana Price dropped by 3% in the last week after a 45% bull run in the last month. The current price is currently $170.