Solana News: Doodles Launches Token on Solana, Receives Mixed Responses

The popular Ethereum NFT collection, Doodles, has announced the launch of its token on the Solana blockchain, sparking mixed reactions from the crypto community. While many are thrilled about the new development, some have raised concerns regarding token allocation and the timing of the launch.

Doodles Launches Solana Token, Mixed Responses From Crypto Community

Doodles, the popular Ethereum NFT collection, has announced the launch of its token on the Solana blockchain. However, the response from the crypto community has been mixed. While many on Crypto Twitter are excited about the new token, there has also been criticism regarding token allocation and timing of the launch. Some have pointed out that the Doodles team could receive up to 57% of the DOOD tokens, which doesn't align with the idea of tokens being a way to 'give back to the community.' Additionally, there are concerns about launching a token on a different chain than the original NFT collection.

Solana's NUPL Signals Caution as Price Faces Uncertainty

Solana (SOL) has witnessed a growing caution among its long-term investors, evident from its Net Unrealized Profit/Loss (NUPL) metric. The NUPL, which tracks the profitability of coins held by these investors, has been fluctuating between 0.4 and 0.6, indicating mixed sentiments. While some holders are still profitable, there's an increasing sense of unease among a section of the investor base. The metric hasn't crossed into negative territory yet, but its movement towards the lower end of the spectrum hints at rising concerns. The correlation between Solana's price dips and NUPL fluctuations is notable, highlighting the sensitivity of investor sentiment to price movements.

Solana Memecoin Crisis Hits SOL, While RCO Finance Gains Momentum

Uncertainty has recently been raised in the Solana (SOL) ecosystem due to the meteoric rise and subsequent collapse of its memecoins. Although Solana memecoins have been a preferred option for traders seeking quick transactions and cheap fees, the increase in speculative assets has heightened market volatility. Meanwhile, RCO Finance (RCOF) is gaining traction as an alternative that blends AI-driven trading with sustainable DeFi solutions, offering traders a more promising option.

LIBRA Token Collapse Sparks Solana's Biggest Scandal Since FTX

On Feb. 14, a newly minted meme coin, LIBRA, emerged and quickly became the center of a financial storm, triggered by Argentina's President Javier Milei's public endorsement. The scandal has raised questions about the role of key figures such as Kelsier, Jupiter, and Meteora, who are alleged to have used LIBRA's liquidity to cash out while everyday traders lost billions. The incident has become Solana's biggest scandal since the collapse of FTX, with Jupiter's silence and the lack of response from Solana's leadership adding to the controversy.