Summary
- Galaxy Research reported that the Libra rugpull incident will have a significant impact on Solana's meme coin ecosystem.
- While Solana's rise was driven by meme coin demand, this incident could reduce investment sentiment.
- Currently, Solana is trading at $168.39, down 8.47%.
Opinions have emerged that the Libra incident will have a negative impact on Solana (SOL) prices.
According to CoinDesk on the 17th (local time), Galaxy Research reported through their analysis that "the Libra rugpull incident will significantly impact Solana's meme coin ecosystem" and noted that "Solana has actually declined by about 8%". They added that "Solana's rise has been primarily driven by demand for Solana-based meme coins" and stated that "this incident could reduce market participants' investment sentiment in Solana."
Previously, Argentine President Milei promoted via X that "the Libra project will be committed to promoting Argentina's economic growth." Subsequently, Libra's market capitalization soared to approximately $4.5 billion before crashing by more than 90%.
Meanwhile, as of 8:25 PM on Binance's USDT market, Solana is trading at $168.39, down 8.47% compared to 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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