Solana-based applications, including the decentralized exchange Jupiter and digital wallet Phantom, experienced performance issues on Sunday. This occurred shortly after the launch of First Lady Melania Trump's meme coin, TRUMP, which caused its price to plummet. Users reported disruptions on the platforms due to a surge in activity. However, Phantom later announced that its systems had rebounded, with $1.25 billion worth of digital assets being swapped in the past day. Jupiter also experienced strain from the increased load. The launch of TRUMP had initially been successful on the Solana network, but the subsequent rush to sell the coin, along with the actions of arbitrage bots, caused the system to struggle. The price of Solana on Jupiter fell as low as $200, while Coinbase's price remained near $255. The spike in priority fees and transaction costs further affected users. Coinbase also experienced delays with Solana transactions, adding to the challenges faced by TRUMP traders. Jupiter and Phantom have not yet responded to requests for comment.



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