Most tokens have lost between 30% and 80% since mid-December, and SOL's market cap has shrunk by about $50 billion in a single month

Odaily Planet Daily News According to data from the digital asset management company Arca, the value of most tokens has decreased by 30% to 80% since mid-December last year, with Solana’s Market Cap losing about $50 billion in the past month. Part of the reason is the recent scandal involving a meme coin called Libra. In addition, Solana is also facing dumping pressure due to the planned ‘unlocking’ of around $1.72 billion worth of Solana tokens on March 1. Jeff Dorman, Chief Investment Officer at Arca, said: "The crypto coin market has been weak for eight weeks, with equities, fixed income and gold completely unaffected by any indicators that would explain the weakness, only the continued decline of crypto coins. This is largely due to sluggish market sentiment, losses from the failure of various meme coins, and a lack of funds to support new token issuances. ”（Bloomberg）