Coinbase Solana transactions are delayed amid memecoin frenzy.

Coinbase users will get US President Donald down in January.

The crypto exchange's “team is currently working hard on scaling our Solana infra,” Coinbase CEO Brian Armstrong said in a Jan. 19 post on the X platform.

“With a lot of Solana activity over the last few days, we didn't expect this level of decline,” Armstrong added.

Following the recent launch of memecoin by Trump and his wife Melania ahead of the January 20 presidential inauguration, Solana users have been experiencing network issues.

Coinbase's delays appear to be at least partially independent of Solana, with some users claiming that the exchange's blockchain network delays settlement times by hours. On January 20, an X user reported a 15-hour transaction delay on Coinbase.

“Coinbase is estimating 100 minutes to process USDC acceptance on Solana,” said Mert Mumtaz, CEO of Solana infrastructure provider Helios, in a January 20 X post.

“To be clear, this has nothing to do with the chain,” Mumtaz said, referring to Solana.

Coinbase representatives did not immediately respond to requests for comment from Cointelegraph.

Congestion in movement

Trump's advisory group An official TRUMP memecoin launched on January 18 and an official Melania token on January 19 on the Solana network, ahead of Trump's presidential inauguration on January 20.

The launch of memecoin has brought a high volume of business to Solana, which has reportedly caused congestion on the network.

Moonshot, the platform where Trump suggested his followers buy memecoin, has reported more than 200,000 new onchain users since the token's launch. Coinbase is the US's most popular retail crypto exchange.

Despite reported congestion errors and some failed transactions, Solana has reported 100% uptime over the past 90 days, with no outages since February 6, 2024, according to data from Solana's status page.

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