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Itz Amzad
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$SOL & its ecosystem tokens are leading the losers today as selloff fears continue to loom. FTX will unlock 11.2M SOL (~$2.06B) on Mar 1, as part of bankruptcy proceedings. Galaxy Digital scooped up 25.52M SOL at $64 each during earlier liquidations. Even at today’s price of ~$166.8, they're up 160.6%. SOL price is back to its Nov. 6 range, but the sentiment is different 🔓 #BTCNextATH #PIOnBinanceYesOrNo #FTXrepayment #BNBChainMeme #MileiMemeCoinControversy #FTXrepayment
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The crypto world is buzzing with controversy as MileiMemeCoin faces scrutiny over its legitimacy. Investors were initially drawn in by the hype surrounding Argentina’s President Javier Milei and his libertarian economic stance. However, recent developments suggest that the coin may not be as decentralized as claimed. Reports indicate that a small group of insiders might control a significant portion of the supply, raising concerns of a potential rug pull Some traders remain optimistic, believing in its long-term potential, while others warn of a looming crash. What’s your take? 🤔 $SOL
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#MileiMemeCoinControversy Another head of state promoted a meme coin, only this time it went very, very badly. Why it matters: There's been a lot of talk about why the Official Trump meme coin could be bad, but the Argentinian experiment did go bad, in less than a weekend. Catch up fast: Friday evening, Javier Milei announced a Solana token with a tweet. The token was called LIBRA. It exploded in value, getting up to over $4 billion in market cap. (Market cap being the value of all the tokens in existence — an especially fuzzy measure in the blockchain world.) Not long after, it crashed over 90% in value, following a massive sale of the token, apparently by insiders (what has the look of a rug pull to many). The next day, Milei deleted the original tweet. He wrote another saying that he was just promoting a private venture and he had nothing to do with it.
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