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, the promotion and pump-and-dump of tokens by Trump and his wife have caused significant losses for investors. Additionally, it is expected that a large amount of SOL tokens will be unlocked on March 1, 2025, which may lead to a significant price drop. The article also mentions that the crypto market is facing a large number of scams and hacker attacks, but the stablecoin index is still rising.
The following is the original content (edited for readability):
I spent over 10 hours analyzing what happened to SOL, TRUMP, LIBRA, and MELANIA destroyed this chain, and there is only one decision that has turned the market around, which is the measure you can take to protect your capital before the crash.
Solana is a particularly fast BlockChain, suitable for applications and crypto projects.
· It is designed for speed and low cost, making transactions both fast and cheap.
· Currently, SOL is in trouble due to some issues.
About a month ago, the SOL price was around 270, and now it has dropped by 30%, which may be the beginning of an impending big drop. I looked up all the facts, and the results shocked me...
Former US President Trump launched the TRUMP meme coin, while SOL was hitting new highs. His actions have 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 release, hundreds of Trump's wallets sold over $2 billion worth of TRUMP. This led to a chart collapse, with investors suffering heavy losses and withdrawing, which was the trigger for the collapse of the Solana ecosystem.
Seeing the ease of withdrawal, Trump's wife launched the MELANIA meme coin, which was even worse than TRUMP. Investors lost over 90% in the first 12 hours, while the team extracted over $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 lead to a significant price drop, and many long-term investors will sell to lock in profits, triggering a massive squeeze.
A week ago, @JMilei promoted a massive scam on Twitter. He also shared the contract address of this scam token multiple times on Instagram. The token's market cap skyrocketed from $10 million to $4 billion in just one hour, but then crashed to $100 million within a few hours.
This cycle has never seen so much fraud, and it's all being done so openly now. Every three broke celebrities are talking about cryptocurrencies and launching tokens on SOL. Then, they pump-and-dump the tokens by 99% in a few days, right in front of everyone's eyes, which has eroded confidence.
The largest hack in cryptocurrency history led to a significant drop in ETH. Bybit was hacked, and $1.5 billion worth of ETH was stolen, which is a massive loss. Hacker attacks always hurt the market and people's confidence.
On the other hand, the stablecoin index is still far below the levels of previous cycles, indicating how much new money is entering the crypto market. Currently, it is just starting to rise.
Overall, the situation is not as bad as it appears on the surface, but the fact is: we are now in a phase of distrust. These moments are often the best opportunities, as learning new skills and improving yourself before the market rebounds can make you a winner at the end of this cycle.
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