🤑 Solana’s Baffling Plunge: Richer But Weaker? 🤔

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Well, I’ll be a monkey’s uncle! Here’s a real head-scratcher for you: Solana’s taken a dive of nearly 29% since the dawn of 2025, and it’s not for lack of dough. Ten billion dollars of liquidity was pumped into this here crypto, and it’s even been given the royal treatment by being included in the US Digital Asset Stockpile. But lo and behold, it’s sinkin’ like a stone, according to TradingView.

Now, you’d think being one of the chosen three altcoins by President Trump’s Digital Asset Stockpile, alongside Cardano and XRP, would be a feather in Solana’s cap. But no siree Bob, it’s more like a millstone ’round its neck.

And here’s the real kick in the pants: over nine and a half billion dollars’ worth of shiny new USDC stablecoins have been minted since New Year’s, but Solana still can’t catch a break. Some folks are saying all that liquidity’s gone and flowed into them there memecoins instead of buoying up SOL‘s price.

And if that ain’t enough, SOL’s down nearly 50% since the launch of Trump’s Official Trump token. From $261 to $133, it’s like watching a soufflé collapse in slow motion.

During the Trump coin launch, there was so much FOMO that people were selling their crypto portfolio faster than you can say “Jack Robinson” to get their hands on TRUMP tokens. Dan Hughes, the founder of Radix, painted quite the picture when he told CryptoMoon about it.

Now, Solana’s price is taking a bath during a market downturn that’s seen the total market capitalization of all cryptocurrencies fall nearly 17% since the year began. It’s like everyone’s decided to jump ship, and Solana’s the lifeboat with a hole in it.

Investors run for the hills as Solana’s capital heads for the exits

Seems like some of Solana’s woes might be ’cause folks are looking for a safer bet after all them memecoin shenanigans. Over half a billion dollars worth of outflows in February alone! And where’s all that cash going? Why, to Ethereum, Arbitrum, and the BNB Chain, of course.

It’s like everyone’s looking for a cozy blanket to hide under, and Solana’s just not cutting it. A Binance Research report says as much, and it even throws in a mention of CZ’s dog, Brocolli, for good measure.

And let’s not forget the Libra token fiasco, which was supposed to be the next big thing, what with Argentine President Javier Milei’s blessing and all. But oopsie daisy, turns out it was just a big ol’ rug pull, with over a hundred million dollars worth of liquidity disappearing quicker than you can say “abracadabra.”

Now, that’s a magic trick I could do without, thank you very much.

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2025-03-09 17:52