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- Coinbase reports a new Solana delay as technical issues persist across recent network incidents.
- Recent outages slowed SOL transactions while core trading services stayed fully operational.
- January’s memecoin surge exposed processing bottlenecks as Coinbase lagged behind Solana’s speed.
On Friday, Coinbase reported a network delay due to a technical issue. The issue led to a slowdown in Solana-based transactions. However, other services were unaffected. Coinbase announced that all funds were safe during the issue.
The technical issue initially occurred at 10:37 PST. However, Coinbase resolved the issue by 11:17 PST. Coinbase said that the team is monitoring the system to ensure full recovery. However, the exchange did not give reasons for the network delay.
Source: Coinbase
In an announcement, Coinbase explained that some customers may experience a delay in the Solana network. However, the exchange clarified that the delay did not impact buying, selling, or fiat transactions. Coinbase said that more information would be given as the situation changes.
The network delay occurred on Friday. However, the exchange experienced a technical issue on February 13. At the time, Coinbase announced a brief malfunction.
Coinbase Resolves Outage Within 40 Minutes
The issue affected customers who wanted to buy, sell, or trade. However, Coinbase resolved the issue after 40 minutes. At the time, Coinbase announced that a fix was implemented soon after the issue occurred.
The network delay was announced at 11:14 PM on February 12. However, the exchange said that the team was investigating the issue. Coinbase claimed that the fund was secure at the time.
However, the issue was resolved at 12:19 AM on February 13. The team announced that a fix was implemented. However, the system entered a monitoring phase.
Coinbase has experienced network delays due to the Solana network. However, the issue occurred during a major spike in January 2025. On January 18, the TRUMP memecoin was launched at that time.
However, the MELANIA memecoin is released on January 19. The Solana network experienced a major spike. However, the issue led to a delay in transactions. Some customers experienced a 15-hour delay.
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However, during this time, the speed of Coinbase’s settlement was slower than the Solana network. Solana’s blockchain is operational throughout the 90 days before February 6, 2025. However, there were long waiting periods for users because of the congestion in the exchange’s systems.
Coinbase CEO Clarifies Cause of Recent Transaction Delays
Coinbase exchange CEO Brian Armstrong made a statement regarding the January settlement issue. In the statement, Armstrong acknowledged the sharp rise in the number of transactions related to Solana-based assets. Armstrong also acknowledged the surge as unexpected.
The exchange is facing technical challenges, as evidenced by the repeated instances of delayed transactions. Each time the exchange has faced a delay, the speed of transactions for the users has been negatively affected.
However, the challenges were not related to the Solana blockchain. Instead, the challenges were related to the exchange’s systems.
Every time a delay occurred, Coinbase exchange promptly rolled out fixes. However, the exchange has emphasized the security of the funds for the users with each update.
Monitoring efforts have been conducted for the exchange each time a delay was reported. However, the exchange has announced that it will provide more updates regarding the issue.
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