Oh, dear! Solana (SOL) just had a week that would make even the bravest crypto investor tremble. It took a brutal 15% tumble, landing at a measly $169.01, its lowest since mid-December. The entire crypto market isn’t looking too hot either, losing a whopping $150 billion over the weekend, leaving the total market cap at a paltry $3.15 trillion. 😱
SOL took the hardest hit among major cryptos, dropping like a lead balloon. XRP wasn’t far behind, slipping 8% but managing to stay above $2.5. Meanwhile, Bitcoin (BTC) and Ethereum (ETH) held up better, falling less than 3% and 2%. 😌
At the same time, Bitcoin’s dominance in the market has climbed to 60%, its highest level in four years—as investors move away from altcoins. 🐂
One of the biggest reasons for Solana’s crash? The meme coin chaos on its blockchain. LIBRA, a Solana-based token, completely collapsed after getting hyped by Argentine President Javier Milei, then abandoned, wiping out $4.4 billion in hours. Another meme coin, Harry Bolz (HARRYBOLZ), only made things worse. 🤡
Market sentiment is still bearish, and unless things turn around fast, Solana and other altcoins could be in for an even rougher ride ahead. 😞
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2025-02-19 13:08