Ethereum’s cryptocurrency keeps losing ground to rival tokens as it struggles to harness tailwinds created by President Donald Trump’s foray into a highly speculative corner of the digital-assets market.

Coinbase users have experienced significant delays with Solana transactions following the launch of memecoins by former President Donald Trump and his wife Melania.

Multiple large-cap tokens based on Solana surged higher Saturday, and the blockchain’s native SOL token set fresh highs above $275 as the incoming U.S. president backed a new Solana-based TRUMP token, calling it his “official” memecoin.

The pre-inauguration Donald Trump memecoin frenzy contributed to a record surge in new Solana addresses as users continued to flock to the meme-friendly blockchain. According to digital asset custody service Copper.

The 'official' memecoin of incoming U.S. President Donald Trump has boosted interest in Solana (SOL), leading to a surge in both its price and

Such fees are remarkably high for a low-cost blockchain, when transactions typically take fractions of a cent to settle.

Solana’s recent surge was mainly driven by Trump and his wife, Melania, launching two memecoins on the blockchain in the lead-up to his inauguration. Trump’s coin saw frenzied