Solana News: Price Plummets Amid Sell Pressure and Whale Exodus

Solana Faces Increased Sell Pressure

Solana’s price dropped sharply by 20% as FTX and Alameda Research offloaded 83.7K SOL ($10M). Additionally, a major whale unstaked 134,902 SOL and listed 135K SOL for sale, further increasing sell pressure on Solana. Overall, 3.03M SOL ($432.5M) was unstaked, with 2.95M SOL still at risk of liquidation, threatening Solana’s stability.

Rollblock Attracts New Capital as SOL Whale Exodus Grows

The price of Solana (SOL) is taking a hit, with over 135 whales offloading or redistributing their SOL, and network activity down 60%. As traders seek fresh opportunities, Rollblock, a GameFi project where token holders earn a share of casino revenues, is pulling in fresh capital and gaining momentum. Could Rollblock be the next big breakout in the altcoin market?

LIBRA Scandal: Argentina’s Chief Prosecutor Freezes $100M in Crypto

Argentina’s Chief Prosecutor Eduardo Taiano has ordered the freezing of approximately $100 million in digital assets linked to the $LIBRA token sale. The meme coin, endorsed by Argentine President Javier Milei, saw its price soar after his public endorsement before crashing, leading to investor losses of around $250 million. The case has been labeled Cryptogate and is being called the “first big scandal” of Milei’s presidency. Milei faces fraud charges for promoting the token.

Argentine Authorities Probe LIBRA Memecoin Collapse

Argentine authorities are intensifying their investigation into the collapse of LIBRA, a Solana-based memecoin. Prosecutor Eduardo Taiano is leading efforts to track transactions and freeze associated assets, aiming to identify individuals who profited from the token’s rise and fall. The investigation also seeks to determine whether any illicit activities, such as money laundering, occurred. Taiano has requested international access to transaction records, mainly focusing on the dates when LIBRA reached its peak valuation. While the total trading volume is known, the anonymity of blockchain transactions has concealed the wallet owners’ identities. However, the prosecutor has identified some addresses and is pushing for asset freezes to prevent fund movement.