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
