First let's take a look at the relationship of $LUNA price and successful transaction count. Daily transaction count has been quite constant at around 500k to 550k for the past 90 days regardless the $LUNA price.

On March 7th, we saw the highest daily percentage of failed transactions in the past 90 days with over 7%. Let's see what happened on that day.

On March 7th, the contract address with most failed transaction was terra1zn6dhtkka9kshegsvxk0qzf2mn8gqmgymwxs63, which belongs to one of arber for White Whale protocols; as explained in twitter thread by @WhiteWhaleTerra themselves. So basically, the arb works like flashloan where two transaction will happen in the same block. Since the arb opportunity come very briefly and instantly and transaction will take some time to be approved, many transaction did not make it.

Let's take a look at what kind of transaction failed for the past 90 days. most of the failed transactions are wasm; which is transaction that used to execute any smart contract; like when interaction with dapps etc.

In conclusion, most of the failed transaction came from arb bots where certain criteria did not met then causing the transaction to not went through.