Most tokens have suffered losses ranging from 30% to 80% since mid December last year, with SOL's market value shrinking by approximately $50 billion in a single month

2025-02-25 02:45

Odaily Planet Daily News: According to data from digital asset management company Arca, the value of most tokens has lost between 30% and 80% since mid December last year. Among them, Solana's market value has lost about $50 billion in the past month, partly due to the impact of a recent Meme coin scandal called Libra. In addition, Solana is also facing selling pressure due to plans to "unlock" (lift trading restrictions) about $1.72 billion of Solana tokens on March 1st. Jeff Dorman, Chief Investment Officer of Arca, stated, "The cryptocurrency market has been sluggish for eight weeks, with stocks, fixed income, and gold completely unaffected by any indicators used to explain the weakness. Only cryptocurrencies continue to decline. This is largely due to low market sentiment, losses caused by various Meme coin failures, and a lack of funding to support new token issuances

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Today 2025-02-25

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Solana Plunges 14%, XRP, Dogecoin Down 8% as Crypto Market Sell-Off Worsens

Crypto majors slid as much as 14% in the past 24 hours as a Monday sell-off extended into Tuesday amid generally bearish sentiment and the lack of actionable catalysts that may help support the market.Solana’s SOL fell 14% — bringing 7-day losses to over 20% — while dogecoin (DOGE), xrp (XRP) and ether (ETH) fell more than 8%. Bitcoin lost the $92,000 level for the first time since late November, threatening a potential downside break of the multi-week consolidation between $90,000 and $110,000See all newslettersOverall market capitalization fell 6.6%, while the broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens, dropped more than 7%.Traders said the current bearish sentiment could be overblown and macroeconomic decisions were key to support market growth.“Bitcoin, Ethereum, and Solana shouldn't be trading this far below their all time highs,” Jeff Mei, COO at crypto exchange BTSE, said in a Telegram message. “On the U.S. side, inflation concerns and a pause in Fed rate cuts have kept markets down, but this could change as weak economic data released last week could spur Fed officials to take further action.”Augustine Fan, head of insights at SignalPlus, mirrored the sentiment: “The 'slowdown' narrative will likely dominate the narrative in the near term, with stocks and bonds trading back in positive tandem with correlation nearing the highs of the past 12 months.”Fan explained that the "bad data is now good" once again, as markets refocus their attention on Fed eases, and provide tailwinds to both gold and BTC in the near future.Data released early this month showed, the widely-watched Consumer Price Index (CPI) surged 0.5% month-over-month in January, much more than the expected 0.3% gain, sending investors to prefer cash positions or risk-off bets until clear signs of a government intervention to boost the economy.The U.S. CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Changes in CPI readings tend to impact bitcoin, and the broader crypto market, as investors view the asset class as a hedge against inflation.

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