% 4.76
BTC Dominance:
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
$ 69.753
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Phantom Wallet Down: Users Tease Solana-Linked Outage

Phantom Wallet

In recent developments, Phantom Wallet, the leading Web3 wallet within the Solana ecosystem, has encountered downtime, causing frustrations among users. Reports indicate unsuccessful transaction submissions, adding to the string of outages affecting the Proof-of-Stake (PoS) layer-1 blockchain network.

Phantom Wallet Outage

Numerous members of the Solana and Phantom Wallet communities have reported issues with the browser version of the wallet. Users have found that submitted transactions cannot be viewed, and attempts to initiate transactions have failed without clear error messages.

While some users have confirmed the outage, it appears that not all users are affected equally. Some have been able to access their accounts and complete transactions successfully, suggesting that the problem is not widespread.

Independent Crypto Journalist Colin Wu shared a screenshot displaying a “no data” prompt on the browser wallet’s overview page, indicating potential issues with transaction visibility. However, Phantom Wallet has not officially acknowledged these reports, suggesting that the downtime may not be affecting all users.

Phantom Wallet has experienced downtime before, notably facing a DDoS attack in February. Such incidents are not uncommon for a Solana-based wallet, given the network’s growing popularity and the associated increase in transaction volume.

Finding a Permanent Solution to Solana Outages

As Solana continues to grow, with SOL gaining prominence as a digital currency, the Solana Foundation is actively seeking solutions to address these recurring outages. Priority fee payments may become standard for applications on the network, aimed at improving transaction processing efficiency.

Moreover, efforts are underway to optimize total compute unit (CU) usage, enhancing the network’s throughput and scalability. Despite Solana’s technological advancements, experts warn that ongoing outages could hinder its ability to surpass Ethereum in the long run.

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