Coinbase Resolves 21-Hour Solana Transaction Delays After Meme Coin Surge

Coinbase, the leading US-based cryptocurrency exchange, has resolved the 21-hour Solana transaction delays that have been affecting users since the launch of the Official Trump (TRUMP) memecoin. The surge in memecoin trading activity, particularly the launch of the TRUMP token, contributed to the congestion on the Solana network and Coinbase's processing times. Coinbase CEO Brian Armstrong announced on Jan. 22, 2025, that the exchange had triaged the backlog, and transactions should now be processing quickly again.

The surge in memecoin trading activity, particularly the launch of the Official Trump (TRUMP) token, contributed to the congestion on the Solana network and Coinbase's processing times in several ways. First, the increased transaction volume on the Solana network overwhelmed the network, causing delays and congestion. Second, the high fees and network congestion led to slower processing times for transactions, including those on Coinbase. Third, Coinbase's infrastructure was not equipped to handle the sudden surge in Solana transaction activity, leading to significant delays. Finally, the combination of network congestion on Solana and Coinbase's infrastructure struggles resulted in multi-hour delays for users trying to send or receive SOL on the exchange.

Coinbase took several steps to communicate with users and address their concerns during the transaction delays. CEO Brian Armstrong acknowledged the issue and apologized to users, stating that the backlog had been triaged, and transactions should now be processing quickly again. He also emphasized that Coinbase is working hard to scale up its infrastructure to support Solana's ecosystem better and provide tier-1 support for Solana, similar to Bitcoin, Ethereum, and Base. Coinbase Support also posted updates on X, explaining the issue and reassuring users that their funds were safe and secure.

In the long term, these infrastructure upgrades should help Coinbase manage high-volume periods more effectively and provide a more reliable and lower latency experience for Solana users. By working with the Solana Foundation on longer-term upgrades, Coinbase aims to improve its capabilities for handling decentralized exchange (DEX) and memecoin trading, which are common on Solana.

As of the time of this writing, Solana's transaction fees and total value locked (TVL) have surged following the launch of the TRUMP memecoin, indicating that the network's activity and demand have increased significantly. Coinbase's commitment to improving its support for Solana suggests that the exchange is taking steps to address the challenges posed by this increased activity and ensure a seamless experience for users during times of high demand.