1 month ago
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Coinspeaker
Bots Overwhelm Solana Network, Accounting for 93% of Failed Transactions
Solana (SOL) is on track to be the most dominant blockchain network based on user interest in Q1 2024. According to Coingecko’s data, the heart of meme mania now commands 49% of global blockchain traffic share, followed by Ethereum (ETH) and BNB Chain. However, the scramble for a piece of meme coin activity has tipped wide usage of trading bots to snipe out gems and automate various activities. Consequently, Solana native and Telegram bots have recorded spiked usage that comes with a hefty cost to the network.
Bots Responsible for 93% of Failed Solana Transactions
According to Tom Wan, an on-chain analyst and researcher at 21Co, bots accounted for 93% of all Solana failed transactions recorded on March 16.
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