In an effort to uplift market sentiment, Coinbase CEO lately introduced plans to supply ‘tier 1 support’ to Solana following transaction glitches on the crypto buying and selling platform. Notably, the change’s CEO, Brian Armstrong, revealed that the transaction glitch on the community was mounted. Further, efforts to forestall such points forward have been additionally underway.
As a end result, the crypto change big now eyes elevated assist for the community, mirroring the identical degree supplied to Bitcoin and Ether.
Coinbase CEO Reveals Tier 1 Support Underway
In an X post by Brian Armstrong dated January 22, the Coinbase CEO revealed that the crypto change is aiming to supply “tier 1 support for Solana, with the same level of support as Bitcoin, Ethereum, and Base.” This assertion indicated that after current withdrawal points confronted by customers on the crypto change, efforts to forestall such occasions sooner or later have been within the pipeline.
Notably, Armstrong said, “It’s clear we need to step up our game on Solana, scale our infrastructure, and provide native support for common use cases like DEX/memecoin trading.” Although, the CEO’s statements underscored that though the crypto buying and selling platform is at present unable to deal with the surge in exercise, a constructive outlook for customers lies forward.
SOL Transaction Glitch Fixed: Coinbase CEO
Meanwhile, the Coinbase CEO has additionally revealed that the change has “the Solana backlog triaged, and transactions should generate quickly again.” This assertion comes towards the backdrop of a SOL withdrawal halt, whereby main crypto exchanges Coinbase and Binance halted withdrawals for the crypto amid excessive withdrawal volumes.
In flip, some merchants stay sad because of the loss incurred amid the community glitch, while others look to withdraw funds as the problem is mounted amid a broader crypto market restoration.
SOL Price Surges Over 7%
As of press time, SOL value pumped practically 7.5% intraday and is sitting at $257.48. The coin’s 24-hour high and low have been $236.36 and $259.83, respectively. Intriguingly, the crypto’s rising trajectory in tandem with the transaction bother repair, as revealed by the Coinbase CEO, has ignited important investor enthusiasm. Moreover, the present pump additionally mirrors the broader crypto market development, as talked about above.
Also, it’s value mentioning that the Solana community noticed an enormous surge in exercise amid the meme cash TRUMP and MELANIA’s current launch, a possible motive why withdrawal volumes on Coinbase surged. In gentle of this exercise surge, a current SOL price analysis by CoinGape revealed that the token could expertise important development forward. In flip, crypto market watchers proceed to eye the token with bullish long-term prospects amid current developments.
Coingape Staff
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