The Solana network is currently facing congestion and commission issues, as reported by Ledger support on March 19. Users may encounter network or transaction error messages when trying to send, stake, or cancel a Solana (SOL) staking on Ledger Live.

Solutions for SOL Transaction Issues:

  • Try repeating the transaction multiple times until it goes through.
  • Consider connecting Ledger to a compatible third-party wallet like Phantom, Solflare, or Backpack.

Some users believe that the problems with Ledger are not due to Solana being overloaded and have suggested updating the code.

Despite the network congestion reports, SOL has seen a decline in price over the past 24 hours, dropping by 12% to $177. This drop could also be attributed to a correction after SOL surpassed $200 on March 18.

The Solana ecosystem has been thriving recently, with decentralized exchanges (DEX) trading volume and total value of assets locked in defi protocols hitting record highs. This surge in transaction volume can be linked to low network fees and the increasing popularity of meme coins like Dogwifhat (WIF), Bonk (BONK), and Book of Meme (BOME).

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