On April 3, 2024, Solana (SOL) experienced a decline in value of 9% due to the high transaction failure rate to date. This has raised concerns among the majority of crypto X (Twitter) users regarding the future of the Solana blockchain, which doubts its ability to provide stable scalability.

Solana is known as a famous Proof-of-Stake (PoS) crypto network, with a Proof-of-History (PoH) protocol that helps process transactions at low fees. However, Solana's history of bugs and network failures has significantly affected the price of Sol coin, the native token of the Solana network.

Crypto traders on Solana Dex Raydium noted a high transaction failure rate, signaling the possibility of a new phase of difficulty on the Solana network, possibly caused by high network load. With a transaction failure rate reaching 75%, users of the Solana network and the Solana DeFi exchange are experiencing great concern.

In the face of this problem, some crypto traders have begun to appreciate the role of the Cardano blockchain which is considered better than Solana in terms of stability and decentralization. One Cardano supporter even expressed continued optimism for the network, while crypto influencer Slumdoge Millionaire expressed disappointment with Solana, and considered switching to the Base blockchain or Ethereum layer-2 scaling network.

After discussions on the Solana network, the trading price of Sol coin fell by almost 9% on the day.