Phantom Resolves Transaction Issues After Processing 10 Million Transactions
Phantom, a self-custodial crypto wallet, has resolved issues caused by a surge in activity that peaked at over 8 million requests per minute. Key points include:
- Transaction processing is now stable following significant delays.
- Despite challenges, Phantom managed $1.25 billion in trading volume and processed 10 million transactions.
- Technical teams worked swiftly to restore operations, with gratitude expressed to external partners for assistance.
- Users showed mixed reactions; some praised the response, while others were frustrated by fees on failed transactions.
Jupiter Exchange Issues
Jupiter, a decentralized exchange, also faced severe traffic congestion. The platform reported extreme load on all systems and is working to restore services. Acknowledgment of user inconvenience was made.
Impact of Trump’s Crypto Initiatives
The recent congestion may be linked to increased crypto awareness following the launch of TRUMP and MELANIA meme coins by Donald Trump, which has led to mass adoption and subsequent strain on platforms. Opinions vary, with some viewing it as a positive move for crypto and others criticizing the tokens as potential pump-and-dump schemes.