LIBRA Meme Coin Wipes Billions as Solana (SOL) Drops 12%

This past week has been brutal for SOL, plummeting almost 12% and slipping below $170.

Solana (SOL) has certainly been a hot topic in the cryptocurrency scene, especially among institutional investors seeking promising ventures. However, even titans of finance are pivoting to an "under-the-radar" altcoin that's rolling up its sleeves and changing the game in a big way.

This shift in attention is fueled by several factors. As Solana battles withامین اسکندری - scalability concerns and faces setbacks, rendering it less appealing to high-net-worth investors, an alternative is emerging. This rising star offers stronger upside potential, better fundamentals, and a more sustainable growth trajectory, making it the preferred pick for serious investors who aren't easily swayed.

Solana (SOL) Drops 12% As LIBRA Meme Coin Wipes Out Billions

This past week has been brutal for SOL, plummeting almost 12% and slipping below the $170 level. Currently valued at $168.21, the coin fell to the lowest since mid-December of last year. Following the trend of the major cryptocurrencies, SOL had the hardest hit, witnessing the steepest drop.

One of the big reasons for the SOL crash is the meme coins havoc on its blockchain. After getting a massive reputation endorsement from Argentine President Javier Milei, LIBRA, a token on the Solana blockchain, collapsed, leaving huge losses within a few hours.

This post began with a claim that President Milei had invested in LIBRA, but the post was deleted shortly after. A few community members noted that the post was illegitimate and that President Milei had never invested in LIBRA. The reports stated that the president's endorsement brought a surge of new investors to LIBRA. However, the project pulled a rug on Thursday morning, wiping out billions of dollars in a few hours.

On Friday morning, LIBRA was lying deep in the red, with a 99% drop from the all-time high, sliding to $0.002 on major cryptocurrency exchanges. The token had a tumultuous journey, rising to an ATH of $1.18, but within a few hours, it crashed to nearly zero. The rapid ascent was fueled by President Milei's purported interest in the token.

The fallout from the rug pull was swift and devastating, with traders and investors bearing the brunt. On Friday morning, LIBRA had a market capitalization of $4.4 billion at the time of writing, according to CoinMarketCap. However, given the token's inactivity and the fact that it was sliding further, the valuation was largely meaningless.

The situation was further complicated by another meme token, Harry Bolz, which also saw a significant drop. The token slid by 74% in the past 24 hours, currently trading at $0.024. It had also seen a remarkable rally, hitting an all-time high of $0.09 during the week.

The market sentiment was still bearish, and unless things turned around fast, Solana and other altcoins could be in for an even rougher ride ahead.

Rexas Finance (RXS): Changing The Game In DeFi

Rexas Finance is revolutionizing the financial landscape by enabling Real-World Asset (RWA) tokenization, providing investors with seamless access to high-value assets. RXS issues allow investors worldwide to trade fractionalized assets, facilitating the free market and ending previously imposed exclusivity-bound limitations.

Investors can diversify their portfolios without complete ownership as transactions are integral, efficient, and irreversible. This empowers everyone to participate in investing in rich industries like real estate, art, and commodities, which were previously limited to institutions only. Through smart contracts and the DeFi concept, Rexas Finance reduces investment risks and increases asset liquidity.

With innovative tokenomics and an extensive branding and marketing strategy, RXS is presenting a competitive threat to well-established crypto giants like Solana and Ethereum through its advanced asset tokenization technology. The astonishing presale performance for Rexas Finance speaks volumes about the confidence that investors have in the project.

Having managed to raise over $46.4 million and sell 452 million RXS tokens, Rexas Finance is emerging as a behemoth in the blockchain space. The token started at $0.03 and reached $0.2 at stage 12 due to increased demand and predicted value.

As institutional investors and everyday traders alike wake up to the immense potential of RWA tokenization, Rexas Finance is poised for exponential growth. This early adoption puts Rexas Finance in a unique position, cementing the need for decentralized solutions for trading assets and giving RXS a leg up over time.

With a meticulously structured roadmap and a rapidly expanding ecosystem designed to bridge traditional finance with blockchain, Rexas Finance stands out as more than just another altcoin. The project is a key player in the shift in ownership and investment of digital assets.

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