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The Unified Payments Interface (UPI) registered a record 6.57 billion (657 crore) transactions worth ₹10.72 lakh crore in August, the National Payments Corporation of India (NPCI) data showed on Thursday. The growth in UPI volumes is up almost 100% (year-on-year) and amounts transacted grew by 75% YoY in the month of August. "With the acceptance of card payments via UPI the transaction volumes are bound to grow strongly and the average value per transaction too will increase. Through this growth, the NPCI systems have been robust and have rendered uptime that stands among the best in the payments industry. NPCI is on track to achieve their vision of 1 billion transactions per day," said Rajesh Mirjankar MD and CEO, Kiya.ai. The country crossed 6 billion transactions for the first time last month, logging 6.28 billion transactions worth Rs 10.62 lakh crore. Prime Minister Narendra Modi last month hailed the achievement of <keyword id="4052276" type="General" weightage="20" keywordseo="upi-transactions" source="Orion">UPI transactions</keyword> crossing 6 billion in July -- the highest ever since its launch six years back. "This is an outstanding accomplishment. It indicates the collective resolve of the people of India to embrace new technologies and make the economy cleaner. Digital payments were particularly helpful during the COVID-19 pandemic," Modi had said in a tweet. In FY22, UPI processed more than 46 billion transactions amounting to over ₹84.17 trillion, thus breaching the $1 trillion mark. UPI's target is to process a billion transactions a day in the next five years. The UPI facility was launched on April 11, 2016, by then Reserve Bank of India Governor Raghuram Rajan. Recently, the NPCI mandated that all UPI-based applications obtain consumers' prior authorisation before recording their location. Any time a client gives permission to record their location, the permission must be properly communicated to the UPI, else the company will take stern action. This rule must be followed by all members by December 1 and applies to domestic UPI transactions between individuals. "UPI continues to penetrate further in the payment ecosystem as reflected by an increase in the number of UPI transactions by approx 5 per cent (on-month) and value of such transactions increasing by approx one per cent (month-on-month). The mass adoption of UPI is driving financial inclusion with respect to payments in India," said Swapnil Bhaskar, Head of Strategy, <keyword id="3673134" type="General" weightage="20" keywordseo="niyo" source="Orion">Niyo</keyword>, a <keyword id="8467319" type="General" weightage="20" keywordseo="neobank" source="Orion">neobank</keyword> for millennials.

UPI transactions reach 657 crore in August worth ₹10.72 lakh crore

New Delhi May 26 (IANS) The number of transactions done on mobile wallets in Q1 2020 was 1.08 billion and the value of transactions was Rs 429 billion in India, recording about four per cent drop in volume and about six per cent drop in value over Q1 2019, a report said on Tuesday. However, Unified Payments Interface (UPI) recorded a substantial transaction volume of 3.87 billion in Q1 2020, an increase of 81 per cent from a year ago, said the report from payments company Worldline India. In terms of value, UPI facilitated transactions worth Rs 6.45 trillion, up 84 per cent from the previous year, according to the report titled "India Digital Payments Report - Q1 2020". Five banks joined the UPI ecosystem in Q1 bringing the total number of banks providing UPI services to 148 as of March 2020. The data showed that in Q1 2020, there were 4,251.73 million mobile apps based transactions and 811.61 million net banking / Internet browser based transactions. In terms of value, mobile apps based payment channels processed transactions worth Rs 15,674.12 billion and net banking / Internet browser based transactions facilitated transactions worth Rs 94,580.39 billion. It is evident that consumers prefer mobile apps frequently for small ticket size transactions and net banking / browser based channels for high ticket size transactions, said the report. In Q1 2020, the total credit card transactions volume was 553.87 million. The total value of transactions processed through credit cards was Rs 1,792.94 billion. Debit card transactions volume and value in Q1 2020 was 1,273.40 million and Rs 2,300 billion respectively. "As social distancing, work from home, online meetings etc. become part of our daily routine, we will likely see an increase among consumers wanting to spend cashless," said Deepak Chandnani, Managing Director, Worldline South Asia &amp; Middle East. "With over 886 million cards, 5 million POS terminals and solutions like UPI, FASTags etc. gaining momentum, our country has the potential to empower consumers with contactless solutions." Worldline India said the report is based on analysis of transactions available in public databases as well as transactions processed by the company in the January-March period of this year. --IANS gb/na

Mobile wallets Q1 transactions volume drops 4% in India: Report

<ul class="summary-list"><li>Illicit crypto transaction volumes notched a record high of $20.1 billion in 2022.</li><li>This figure doesn't include firms that are facing fraud allegations like Celsius, FTX, and Three Arrows.</li></ul>Illicit crypto transaction volumes notched a record high of $20.1 billion last year amid surging hacks and a sanctions violations, according to blockchain analytics firm Chainalysis.Kim Grauer, director of research at Chainalysis, told Insider that 2022 was an "undoubtedly interesting year for the crypto industry," with "a driving factor behind this record number is activity associated with sanctioned entities."From 2021 to 2022, sanctions-related transaction volume accounted for 44 percent of overall illicit volumes and rose more than 10 million percent in a year, per the report on Thursday.The share of overall crypto activity associated with illicit transactions rose last year for the first time since 2019, and accounted for 0.24%, compared to 0.12% in 2021. "On the other hand, we found that illicit transaction volume fell across more conventional categories of cryptocurrency-related crime, except for stolen funds, which rose 7 percent year-over-year," Grauer told Insider."This decrease could be partly due to the market downturn, given users' skepticism over a scam's promises of high returns when asset prices decline," she said. Crypto's market capitalization is off more than two-thirds from its all-time high in November of 2021, according to <a href="https://messari.io/" target="_blank" rel="noopener">Messari.</a>Grauer notes that the report's figures are a lower-bound estimate and subject to change as more bad actors are revealed. Also, the report doesn't include firms that are facing fraud allegations like Celsius, FTX, and Three Arrows Capital.Another report indicates that $3.7 billion was lost from crypto scams, hacks, and exploits in 2022, according to blockchain audit firm <a href="https://markets.businessinsider.com/news/currencies/crypto-scams-hacks-2022-worst-year-ever-defi-axie-infinity-2023-1">CertiK.</a> One of last year's notable hacks includes blockchain game developer Sky Mavis' Ronin Bridge, which was exploited for $625 million in April.

Illicit crypto transaction volumes notched an all-time high in 2022 amid surging hacks and sanctions violations

<ul class="summary-list"><li><keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">Ethereum</keyword> on-chain transaction volume and mining revenues reached record highs during the month of May, The Block data showed. </li><li><keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">Ether</keyword> mining brought in $2.35 billion in total revenue, an increase of 42.4% from April.</li><li>Revenue soared amid a record run-up in the world's second largest cryptocurrency.</li></ul>Ethereum on-chain transaction volume and mining revenues reached record highs during the month of May, <a href="https://www.theblockcrypto.com/linked/106827/multiple-eth-records-miner-revenue-on-chain-volume-broken-may">The Block</a> data showed. <a href="https://markets.businessinsider.com/currencies/eth-usd?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Ether</a> mining brought in $2.35 billion in total revenue, an increase of 42.4% from the previous month. Meanwhile, Ethereum miner transaction fees increased 43.9% to reach $1.03 billion. Mining revenue consists of transaction fees, or costs associated with transacting on ethereum, and block subsidy payouts to miners.Miners who successfully create a block are rewarded in 2 freshly minted ether and all the transaction fees within the block. A miner may also get 1.75 ether for an "uncle block," which is a valid block created simultaneously to the successful block, by another miner. Revenue soared amid a record run-up in the world's second largest cryptocurrency. Ether hit an all-time high above $4,300 on May 12. The token has pulled back 41% since then and now trades around $2,500. Amid the recent pullback, transaction fees have fallen. According to data from YCharts, <a href="https://markets.businessinsider.com/currencies/news/transaction-fees-bitcoin-ether-crypto-drop-6-month-low-selloff-2021-6-1030483726">transaction fees have plummeted</a> 93% in less than two weeks.

Ether mining revenue and transaction volume soared to record highs in May, report says

<keyword id="20599258" type="General" weightage="20" keywordseo="Indian-consumers" source="keywords">Indian consumers</keyword> demonstrated a significant increase in their <keyword id="21084888" type="General" weightage="100" keywordseo="credit-card-spending" source="keywords">credit card spending</keyword> in July this year, marking a 19% increase compared to the same month last year. According to a report released by <keyword id="19945737" type="General" weightage="20" keywordseo="SBI-Securities" source="keywords" meta.keywordsubtype="org" meta.entityname="SBI Securities" meta.hostid="261" meta.entityid="SBI Securities">SBI Securities</keyword>, the total expenditure by credit card users across the country reached an impressive Rs 1.7 trillion. This substantial uptick highlights the growing reliance on credit cards for transactions, reflecting broader economic trends and <keyword id="20740758" type="General" weightage="20" keywordseo="consumer-confidence" source="keywords">consumer confidence</keyword>. The report also highlighted a considerable increase in <keyword id="21118324" type="General" weightage="20" keywordseo="transaction-volumes" source="keywords">transaction volumes</keyword>, which surged by 39% year-on-year, reaching a total of 38.4 crore transactions in July 2024. This increase in the number of transactions underscores the widespread adoption and usage of credit cards as a preferred <keyword id="20632158" type="General" weightage="20" keywordseo="payment-method" source="keywords">payment method</keyword> among Indian consumers. "Credit card spending in India increased 19% YoY to Rs 1.7 trillion in Jul'24. The transaction volume during the month was 38.4 crore, up 39% YoY" said the report. The report also noted that among the banks, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> emerged as the leader in terms of transaction volumes, with its credit cards facilitating 9.9 crore transactions during the month. <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> followed closely with 7.1 crore transactions, while SBI secured the third position with 6.3 crore transactions. In terms of transaction value, HDFC Bank again led the way, with a total spend of Rs 44,369 crore through its credit cards in July. ICICI Bank and SBI followed with Rs 34,566 crore and Rs 26,878 crore, respectively. The report said "In Jul'24, transaction volumes was led by cards issued by HDFC Bank (9.9 crore) followed by ICICI Bank (7.1 crore) and SBI (6.3 crore)". Additionally, the <keyword id="22988051" type="General" weightage="20" keywordseo="average-transaction-value" source="keywords">average transaction value</keyword> (ATV) also saw a marginal increase of 1.4% month-on-month in July 2024. This marks the first increase in ATV in ten months, suggesting a shift in consumer behaviour towards higher-value transactions after a period of stagnation. Overall, these figures reflect the growth of credit card usage in India, driven by increased consumer confidence and the convenience offered by credit card transactions.

Indians credit card spending increases 19% YoY to Rs 1.7 trillion in July 2024

<ul class="summary-list"><li>Coinbase released its second quarter earnings for 2023 — and the report shows a crypto contraction.</li><li>Consumer and institutional trading volume were both significantly down on the platform compared to last year.</li></ul>Coinbase, the world's <a href="https://coinmarketcap.com/rankings/exchanges/">second-largest cryptocurrency exchange</a> in terms of volume, released its second quarter <a href="https://investor.coinbase.com/financials/quarterly-results/default.aspx" target="_blank" rel="noopener">earnings report</a> on Thursday — and the results are less than favorable for crypto enthusiasts. Transaction volume for consumers and institutions is down 70% and 54%, respectively, when compared to the second quarter of 2022.The crypto exchange cited a decrease in crypto's overall market cap, with the average crypto prices falling, and low volatility in the market as reasons for the decline. The price of the most visible cryptocurrency, Bitcoin, has remained relatively stable since March, meaning the opportunity to make big returns has diminished.It was just at <a href="https://www.businessinsider.com/look-back-crypto-bowl-super-bowl-ads-2023-1">last year's Super Bowl</a> that cryptocurrencies and the companies facilitating their transactions seemed as ubiquitous in America as beer and pickup trucks. But <a href="https://www.businessinsider.com/why-crypto-celsius-three-arrows-voyager-filed-bankruptcy-2022-7">crypto's downward spiral</a> began soon after, as the fed raised interest rates. Three crypto giants — hedge fund <a href="https://www.businessinsider.com/three-arrows-founders-meditating-surfing-taking-shrooms-in-bali-2023-report-6">Three Arrows Capital</a>, lender Celsius, and brokerage Voyager Digital — collapsed, and at the end of last year, the high-profile <a href="https://www.businessinsider.com/ftx-collapsed-due-to-hubris-incompetence-and-greed-debtor-report-2023-4">implosion of FTX</a> decimated $2 trillion in market value last year, <a href="https://www.cnbc.com/2022/12/23/bitcoin-lost-over-60-percent-of-its-value-in-2022.html#:~:text=Just%208%25%20of%20Americans%20have,far%20below%20their%202021%20highs." target="_blank" rel="noopener">CNBC reported</a>. <a href="https://www.businessinsider.com/coinbase-layoffs-1100-employees-amid-crypto-bloodbath-2022-6">Coinbase began layoffs</a> last summer, locking 1,100 employees out of their company email accounts in June, and has continued to make cuts this year, <a href="https://www.businessinsider.com/layoffs-sweeping-the-us-these-are-the-companies-making-cuts-2023">slashing another 20% of its employee base</a> at the beginning of 2023.While some have said that <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-100000-crypto-winter-bank-crisis-btc-halving-2023-4">2022's Crypto Winter is finally over,</a> hurdles remain. In June, both <a href="https://markets.businessinsider.com/news/currencies/cryptocurrency-regulation-outlook-forecast-implications-coinbase-binance-sec-lawsuits-existential-2023-6">Coinbase and Binance were hit with lawsuits</a> from the US Securities and Exchange Commission, alleging that both exchanges have illegally offered unregistered securities to users. <a href="https://markets.businessinsider.com/news/currencies/coinbase-moves-to-dismiss-sec-lawsuit-alleging-crypto-falls-out-of-regulators-oversight-1032517924">Coinbase moved to dismiss</a> the suit earlier this month, but with the controversy continuing, it doesn't look like the Crypto Winter will fully thaw anytime soon.

Does anyone care about crypto? Consumer transaction volume on Coinbase is down 70% from last year.

<ul><li><keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword> clocked over 14.55 billion transactions in volume and ₹26.19 trillion in terms of value.</li><li>UPI’s transaction volume and value have almost doubled since last year's recording.</li><li>Debit cards account for 10 percent and Credit cards accounted for 7 percent of transactions in Q1 2022.</li></ul>India saw 9.36 billion transactions amounting to ₹10.25 trillion in the first quarter (January-March period) via various payment modes led by Unified Payment Interface (UPI), a new report showed on Monday. The UPI P2M (person to merchant) transactions emerged as the most preferred payment mode among consumers with a market share of 64 per cent in volume and 50 per cent in terms of value, according to the report by Worldline, a global leader in payments industry. In Q1 2022, UPI clocked over 14.55 billion transactions in volume and ₹26.19 trillion in terms of value. Its transactions volume and value has almost doubled since last year recording about a 99 per cent increase in volume and over 90 per cent increase in value compared to Q1 2021. As of the first quarter, the top <keyword id="3904501" type="General" weightage="50" keywordseo="upi-apps" source="Orion">UPI apps</keyword> in terms of volume were PhonePe, Google Pay, <keyword id="14300323" type="General" weightage="50" keywordseo="paytm-payments-bank-app" source="Orion">Paytm Payments Bank App</keyword>, Amazon Pay, Axis banks App while top PSP UPI Players were YES Bank, Axis Bank, State Bank of India, HDFC Bank and Paytm Payments Bank. Among the top UPI Apps, Phone Pe, Google Pay and Paytm accounted for 94.8 per cent of UPI transactions volume and 93 per cent of UPI transactions value as of March 2022, the report showed. The average ticket size (ATS) for UPI P2P (peer-to-peer) transactions was ₹2,455 and ₹860 for P2M transactions (as of March). Credit cards accounted for 7 per cent of transactions, but 26 per cent of value, indicating that customers still prefer to use their credit cards for high value transactions. Debit cards account for 10 per cent of transactions, but 18 per cent in value. The volume has shrunk from previous years likely because of the rise of UPI. As of March, the total number of POS terminals deployed by merchant acquiring banks were 6.07 million with over half a million POS terminals deployed during Q1 2022. The POS deployment witnessed over 28 per cent growth in Q1 2022 compared to a year before. As of March, the total number of Bharat QRs were 4.97 million, a 39 per cent rise as compared to March 2021 while UPI QRs stood at 172.73 million, registering an increase of 87 per cent as compared to March 2021. The total number of credit and debit cards in circulation by the end of Q1 2022 was 991.28 million. As of January, there were about 658 million Internet users and about 1.2 billion mobile subscribers in India. In Q1 2022, consumers made 15.6 billion mobile based payments whereas net banking/Internet browser-based transactions were over 1 billion, the report showed. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/how-to-back-up-and-restore-your-whatsapp-chats-with-google-drive/articleshow/92492128.cms">How to back up and restore your WhatsApp chats with Google Drive</a> <a href="https://www.businessinsider.in/india/news/slow-sowing-wary-global-buyers-can-take-rice-prices-on-the-same-path-as-wheat/articleshow/92489067.cms">Slow sowing, wary global buyers can take rice prices on the same path as wheat</a>

Indian consumers made 9.36 bn transactions worth ₹10.25 trillion in Q1 2022

<ul><li><keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword> clocked over 19.65 billion transactions in volume and Rs 32.5 lakh crore in terms of value.</li><li>The UPI transactions volume and value almost doubled since last year as it recorded about an 88 per cent increase in Q3.</li><li>The top three UPI apps in terms of volume and value were PhonePe, Google Pay and <keyword id="3236791" type="General" weightage="50" keywordseo="paytm-payments-bank" source="Orion">Paytm Payments Bank</keyword> App.</li></ul> The <keyword id="2736678" type="General" weightage="50" keywordseo="unified-payments-interface" source="Orion">Unified Payments Interface</keyword> (UPI), debit and credit cards, prepaid payment instruments like mobile wallets, and prepaid cards logged 23.06 billion transactions amounting Rs 38.3 lakh crore in the third quarter this year, a new report showed on Monday. At the top, the UPI clocked over 19.65 billion transactions in volume and Rs 32.5 lakh crore in terms of value. The UPI transactions volume and value almost doubled since last year as it recorded about an 88 per cent increase in volume and over 71 per cent increase in value in Q3 as compared to the same quarter last year, according to <keyword id="1925688" type="General" weightage="50" keywordseo="worldline-india" source="Orion">Worldline India</keyword>'s 'Digital Payments Report' for the third quarter. The top three UPI apps in terms of volume and value were PhonePe, Google Pay and Paytm Payments Bank App. The top five remitter Banks were <keyword id="6354731" type="General" weightage="50" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword>, <keyword id="6357149" type="General" weightage="50" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, Bank of Baroda, Union Bank, and ICICI Bank, whereas the top 5 beneficiary banks were Paytm Payments Bank, YES Bank, State Bank of <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, Axis Bank, and ICICI Bank. UPI person-to-merchant (P2M) and person-to-person (P2P) emerged as the most chosen payment method among consumers, accounting for 42 per cent of total transaction volume. This was followed by credit and debit card payments, which accounted for 7 per cent of volume and 14 per cent of value. "The swift adoption of digital payments can be witnessed with each passing quarter. Popular payment instruments like UPI, cards, PPIs are already clocking over 23 billion transactions in a quarter," said Ramesh Narasimhan, CEO, India, Worldline. Q3 data indicates healthy usage of credit cards and growth in the average ticket size. For credit cards, it is Rs 4,833; for debit cards, it is Rs 2,073; for UPI P2M, it is Rs 738; for UPI, P2P it is 2,576; for prepaid cards, it is 473; and for M-wallet, it is Rs 382. The total transaction between credit cards and debit cards comes to around 65 per cent and the remaining 35 per cent has been shared between UPI P2P, UPI P2M, and prepaid cards, the report showed. As of September 2022, the overall number of POS terminals installed by merchant-acquiring banks had surpassed 7 million. In Q3 2022, POS deployment increased by more than 41 per cent reaching 7.03 million, when compared to the same quarter of the previous year. In the online space, e-commerce (shopping for goods and services), gaming, utility and financial services contributed to over 86 per cent of the transaction in terms of volume and 47 per cent in terms of value. By the end of the third quarter, there were 1.01 billion credit and debit cards in circulation. Credit card volume and value were 725 million and Rs 3.5 lakh crore in Q3 2022, respectively. In the third quarter of 2022, the volume and value of debit card transactions were 907 million and Rs 1.88 lakh crore, respectively, the report said. At least 58.78 million FASTags have been issued till September, with 36 banks. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kolkata-hyderabad-and-pune-remain-indias-most-affordable-residential-cities-jll/articleshow/96001910.cms">Kolkata, Hyderabad and Pune remain India’s most affordable residential cities: JLL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/go-after-big-smugglers-sending-mountains-of-illegal-drugs-into-the-country-fm-to-enforcement-agencies/articleshow/96001566.cms">Go after big smugglers sending 'mountains' of illegal drugs into the country: FM to enforcement agencies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/gadgets/news/upcoming-new-games-in-2023/articleshow/95999256.cms">Top upcoming games in 2023: Here’s what PC, PlayStation, and Xbox users should expect</a>

Digital payments in India touch Rs 38.3 lakh cr at over 23 bn transactions

<ul class="summary-list"><li>The <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">Solana</keyword> team announced on Twitter at around 02:00 ET that they were able to restart the network.</li><li>The network crashed the day before after high transaction volumes forced a restart.</li><li>The <keyword id="11902216" type="UNKNOWN" weightage="60" keywordseo="blockchain" source="Orion">blockchain</keyword>'s <keyword id="12045888" type="UNKNOWN" weightage="60" keywordseo="sol" source="Orion">sol</keyword> token was down by around 5% at $160.50, having hit a record above $200 last week.</li></ul>The solana network was up and running normally again on Wednesday after a surge in transaction volume prompted the blockchain to crash the day before, according to an announcement by the company <a href="https://twitter.com/SolanaStatus/status/1438020110451609603">Twitter</a> overnight.In its tweet, Solana told its validators, who help keep the system secure, how they could help restart the mainnet. This crash was caused by a surge in activity on the network. The company said ''intermittent instability" had disrupted some <a href="https://markets.businessinsider.com/news/currencies/solana-crash-network-crypto-blockchain-engineers-validators-restart-sol-2021-9">services</a> on Tuesday, after solana's transaction load peaked at 400,000 transactions per second."These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking," Solana's team said on <a href="https://twitter.com/SolanaStatus/status/1437856638279487493">Twitter</a>.<a href="https://www.cmcmarkets.com/en/learn-cryptocurrencies/what-is-a-blockchain-fork">Forking</a>, which occurred after the transactions flooded in, is when the blockchain splits and the software of different <keyword id="12100261" type="UNKNOWN" weightage="60" keywordseo="miners" source="Orion">miners</keyword>, or validators, doesn't align. A decision on which version of the blockchain to use is critical. "The solana validator community successfully completed a restart of Mainnet Beta after an upgrade to 1.6.25. Dapps, block explorers, and supporting systems will recover over the next several hours, at which point full functionality should be restored,"Solana's team tweeted.Solana is known for its <a href="https://markets.businessinsider.com/news/currencies/solana-investment-altcoins-crypto-ethereum-bitcoin-coinshares-transaction-costs-2021-9">cheap</a>, fast transactions that have helped it be seen as a potential "ethereum killer" - a rival to the larger blockchain.When transactions peaked on Tuesday, this caused excessive memory consumption, prompting <a href="https://academy.binance.com/en/articles/what-are-nodes">network nodes</a>, a point where a message can be created, received or delivered, to go offline. Solana's sol's token was last around $160.20, down nearly 5% in the 24 hours to 05:45 ET, according to <a href="https://coinmarketcap.com/">coinmarketcap</a>. Last week, sol reached record highs above $200, despite a <a href="https://markets.businessinsider.com/news/currencies/bitcoin-ether-price-el-salvador-leverage-liquidation-exchange-glitches-crypto-2021-9">huge sell-off</a> in the broader <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> market.

You Searched For "transaction volumes" and got 9 results

UPI transactions reach 657 crore in August worth ₹10.72 lakh crore

IANS

Mobile wallets Q1 transactions volume drops 4% in India: Report

IANS

Illicit crypto transaction volumes notched an all-time high in 2022 amid surging hacks and sanctions violations

Morgan Chittum

Ether mining revenue and transaction volume soared to record highs in May, report says

Emily Graffeo

Indians credit card spending increases 19% YoY to Rs 1.7 trillion in July 2024

ANI

Does anyone care about crypto? Consumer transaction volume on Coinbase is down 70% from last year.

Will Gendron

Indian consumers made 9.36 bn transactions worth ₹10.25 trillion in Q1 2022

IANS

Digital payments in India touch Rs 38.3 lakh cr at over 23 bn transactions

IANS

Solana says it is back up and running after a surge in transactions caused the network to crash the day before

Camomile Shumba

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