Author: 0xDecision , on-chain analyst
Compiled by: zhouzhou, BlockBeats
Editor's note: This article analyzes the impact of tokens such as SOL, TRUMP, LIBRA, and MELANIA on the market, pointing out that these projects have led to the collapse of the Solana ecosystem. In particular, Trump and his wife's token promotion and pump-up have caused significant losses to investors. In addition, it is expected that SOL will unlock a large number of tokens on March 1, 2025, which may lead to a sharp drop in prices. The article also mentioned that the crypto market is facing a large number of scams, hacker attacks and other problems, but the stablecoin index is still rising.
The following is the original content (for easier reading and understanding, the original content has been reorganized):
I spent more than 10 hours analyzing what happened to SOL, TRUMP, LIBRA and MELANIA destroyed the chain, and currently only one decision has reversed the market, this is what you can do to protect your funds before the crash.
Solana is an exceptionally fast blockchain suitable for applications and crypto projects.
- It is built for speed and low cost, making transactions fast and cheap.
- Currently, SOL is in trouble due to a few issues.
A month ago, the SOL price was around 270, and now it has dropped by 30%, which may be the beginning of the upcoming big drop. I checked all the facts and the results shocked me...
US President Trump launched the TRUMP meme coin while SOL was hitting new highs. His move hurt the entire market and caused chaos. After the launch, funds began to flow from other meme coins to TRUMP. In the first week of the TRUMP meme coin launch, hundreds of Trump's wallets sold more than $2 billion of TRUMP. This caused the chart to crash, investors suffered heavy losses and withdrew, which was the fuse that triggered the collapse of the Solana ecosystem.
After seeing how easy it was to withdraw money, Trump’s wife launched the MELANIA meme coin, which was even worse than TRUMP this time. Investors lost more than 90% in the first 12 hours, and the team withdrew more than $500 million.
On March 1, 2025, the largest SOL token unlock will occur. About $2.2 billion worth of tokens will be released, which will cause the price to drop sharply, and many investors holding long positions will sell to lock in profits, triggering a massive squeeze.
A week ago, @JMilei promoted a huge scam on Twitter. He also shared the contract address of this scam token multiple times on Instagram. The market value of this token soared from $10 million to $4 billion in just one hour, but soon collapsed within a few hours and dropped to $100 million.
There has never been so much scam activity in this cycle, and it is now being done so openly. One out of every three celebrities with no money is talking about cryptocurrencies and launching tokens on SOL. Then, they pump the tokens -99% in a few days, and they do it right under everyone's noses, which makes people lose confidence.
The biggest hack in the history of cryptocurrency has caused a sharp drop in ETH. Bybit was hacked and $1.5 billion of ETH was stolen, which is a huge loss. Hacking always hurts the market and people's confidence.
On the other hand, the Stablecoin Index, which shows how much new money is entering the crypto market, is still well below levels seen in previous cycles. It is only just beginning to rise.
In the big picture, the situation is not as bad as it seems, but the fact is: we are in a phase of distrust. Such moments are often the best opportunities to learn new skills and improve yourself before the market picks up, so that you can become a winner at the end of this cycle.
