In a now-deleted put up, Kraken took a lighthearted jab at Coinbase over delays in Solana transactions by posting a humorous picture that includes CEO Brian Armstrong. Within the picture, Armstrong is depicted holding a Solana token with an exaggerated grin, poking enjoyable at Coinbase’s dealing with of latest transaction slowdowns.
Coinbase Faces Delays in Solana Transactions
Earlier, Kraken took benefit of the state of affairs and wrote on X, “Ready days for a withdrawal? That’s not love, that’s a hostage state of affairs. The selection is yours.” The crypto trade added a picture with two drugs, one purple that signified Kraken and one blue, hinting at Coinbase. These posts made a number of customers acknowledge the shortcomings of the Kraken rival.
The delays, which started mid-January, coincided with the discharge of meme cash tied to former President Donald Trump and his spouse Melania. The TRUMP token debuted on January 18, adopted by the MELANIA token on January 19, inflicting a surge in exercise on the Solana blockchain. Consequently, Coinbase customers reported prolonged delays in processing Solana-based transactions, with some ready over 15 hours for his or her transactions to finalize.
On January 19, Armstrong addressed person issues, attributing the delays to the surprising quantity of transactions on the Solana community. He assured customers that Coinbase was actively scaling its infrastructure to deal with the elevated demand. The trade clarified that these delays stemmed from the trade’s infrastructure slightly than points with the Solana blockchain itself.
Ready days for a withdrawal?
That’s not love, that’s a hostage state of affairs.
The selection is yours. pic.twitter.com/ooTgq7kd5U
— Kraken Alternate (@krakenfx) January 21, 2025
Mert Mumtaz, CEO of Solana infrastructure agency Helius, supported this declare, confirming that Solana’s blockchain remained operational with out outages through the congestion interval. Over the previous 90 days, Solana maintained 100% uptime, whilst transaction volumes spiked.
The meme coin launches considerably impacted community exercise. Moonshot, the platform internet hosting the TRUMP token sale, reported the addition of greater than 200,000 new customers to the Solana community. Regardless of the congestion, Solana’s stability and efficiency weren’t compromised, and the blockchain continued to deal with the excessive transaction quantity.
Coinbase initially acknowledged delays on January 17, informing customers about points affecting Solana transactions, together with transfers and deposits. The delays, nonetheless, didn’t influence the platform’s shopping for, promoting, or fiat withdrawal features. By January 20, some customers nonetheless reported prolonged wait instances for Solana transactions, with the trade estimating processing instances of roughly 100 minutes.
Additionally Learn: Solana ETF 2025 Approval Odds Hit 93%, What’s Subsequent For SOL Worth?
