Solana activity flips Ethereum amid memecoin craze, even as txs fail

Degens were piling into Solana-based memecoins such as “Book of Meme” and “SNAP” as the network struggled to keep up with the surge of activity.

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Solana network activity surpassed Ethereum over the weekend amid a scramble for Solana-based memecoins — causing the network to struggle to keep up.

On March 16, Solana’s total trading volume soared past Ethereum, reaching $3.52 billion and beating out the daily volume on the Ethereum network by more than $1.1 billion, per DefiLlama.

However, the Solana network struggled to keep up with the influx of activity, with many users across X complaining about frequent instances of failed or missing transactions.

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