Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»This is why Solana fell below $150 due to congestion resolution.
TRADING NEWS

This is why Solana fell below $150 due to congestion resolution.

By Crypto FlexsApril 14, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
This is why Solana fell below 0 due to congestion resolution.
Share
Facebook Twitter LinkedIn Pinterest Email

Solana developers have released an urgent update to address persistent congestion issues on the blockchain network.

Anza, a prominent infrastructure developer, has successfully deployed version 1.18.11 to fix congestion on Solana Devnet and invited validators to test its effectiveness.

Network fixes destination identity

The Solana-focused software development company urged all testnet validators to immediately upgrade their systems to facilitate a thorough analysis of the impact of proposed solutions.

Over the past few weeks, Solana has been grappling with high transaction failure rates, exacerbated by an influx of bots exploiting meme coin activity. As a result, several Solana-based protocols were forced to delay their launches due to network congestion.

In particular, there are signs that the situation may be improving. Solana’s primary wallet provider, Phantom, reported a significant improvement in transaction success rates.

“Over the last 24 hours, our metrics show that transactions took place almost 90% of the time, which is almost a five-fold improvement from a week ago. Transfers and exchanges on Phantom will now be much more reliable. If you’re still having trouble, try again and we’ll fix it quickly.” Phantom said.

Meanwhile, Jacob Creech, head of developer relations at the Solana Foundation, praised the network’s response to the congestion issue.

“During network congestion in 2022, our key engineers were key contributors to solving the problem. Now our core engineers, dapp, validators, RPC, developers, etc. are focusing on improving the UX. Solana’s developer community is maturing. We will overcome this and achieve better results.” Creech decided.

Despite improving trading conditions on the network, Solana has seen a 12% decline over the past day. This brought the price below $140 for the first time in a month. But the decline reflected a broader market downturn that triggered the liquidation of more than $860 million in cryptocurrencies across major assets, including Bitcoin.

These price movements represent a shocking event for Solana. The price of SOL is on an upward trend, up about 50% year to date. However, it has struggled considerably, falling more than 13% over the past week since peaking above $200 in mid-March, according to BeInCrypto data.

Read More: Solana (SOL) Price Prediction for 2024/2025/2030

Solana YTD price performance. Source: TradingView

The move has market traders warning that the current downtrend could push Solana’s price down to $120, depending on whether it succeeds in resolving the congestion issue.

“It will be an interesting week for Solana. If that fix works on Monday, you could be right back down to $200. Otherwise, we will probably see more negative price action, possibly a decline to the $120-130 range,” wrote cryptocurrency trader Thor.

disclaimer

In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Next Binance Coin (BNB) Price Rally 3 Catalysts that can supply fuel

September 24, 2025

Buying NFT is like buying a Mickey Mouse T -shirt and an IP.

September 23, 2025

In the CFTC crackdown, OKX’s perps dex lunch stops: What is the following?

September 22, 2025
Add A Comment

Comments are closed.

Recent Posts

BTCC Exchange Partners With NBA All-Star Jaren Jackson Jr. To Inspire Smarter Moves In Sports And Crypto

September 24, 2025

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025

Nebeus Overfunds Equity Crowdfunding Campaign With €3.6M Raised, Reflecting Growing Demand For Regulated Crypto–Finance Solutions

September 24, 2025

Next Binance Coin (BNB) Price Rally 3 Catalysts that can supply fuel

September 24, 2025

Ether Leeum World Fair Announcement

September 24, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Navigating Policy & Regulation in Blockchain

September 23, 2025

Flipster Debuts Market’s First USD1 Perps For BTC, ETH, SOL, XRP, And DOGE

September 23, 2025

BYDFi Joins Korea Blockchain Week 2025 (KBW2025): Deepening Web3 Engagement

September 23, 2025

MEXC Brings Immersive Experience With ‘0 Fee Lounge’ To Token2049

September 23, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

BTCC Exchange Partners With NBA All-Star Jaren Jackson Jr. To Inspire Smarter Moves In Sports And Crypto

September 24, 2025

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025
Most Popular

5 ways to make money more steadily than encryption mining

March 24, 2025

Serenity PoC2 | Ethereum Foundation Blog

April 15, 2024

Bitcoin (BTC) supply on centralized exchanges has hit a six-year low.

December 8, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.