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OKX conducts record $1.32B $OKB token burn Wu Blockchain reported on X that crypto exchange OKX completed its 27th OKB token burn on March 14, destroying 31,158,862 OKB valued at about $1.32 billion—the highest burn in both quantity and value to date. This brings the total…

Kaito conducts strategic $KAITO buybacks to strengthen token alignment Yu Hu, founder of AI-driven Web3 information platform Kaito, emphasized on X the importance of alignment in the crypto industry, stating that token buybacks ensure the network's success benefits holders. He…

How did a meme token backed by a world leader soar to a $1.16 billion market cap, only to crash by 95% within hours? A new report published on Friday by DWF Labs sheds light on the launch and collapse of $LIBRA. Libra ( LIBRA ) is a meme token on Solana that skyrocketed to a market cap of $1.16 billion within its first hour, only to lose over 95% of its value shortly after. The token’s collapse erased more than $280 million from approximately 75,000 traders, raising serious questions about insider trading and market manipulation. The incident, known as “Cryptogate,” has drawn political and financial heavyweights into the controversy, including Argentinian President Javier Milei and Web3 investment firm Kelsier Ventures. According to DWF’s report, allegations have surfaced that insiders were given access to $LIBRA tokens before the public launch. Kelsier Ventures’ wallets reportedly made over $110 million from liquidity provision and early sniping of the token. The scandal has triggered political backlash for President Milei, with accusations of fraud and calls for a federal investigation and in some cases a resignation. The DWF report also connects Kelsier CEO Hayden Davis to another high-profile token launch which also has a political connection: United States First Lady Melania Trump’s ( MELANIA ) token. Following the launch of tokens such as $MELANIA and $LIBRA , focus has turned to a need for more transparent and equitable token launch mechanisms in the crypto market. This edition of our institutional report 'A Presidential Guide To Token Launches' examines: ✅ The history of… pic.twitter.com/5Liroimyuz DWF Labs’ analysis could be seen as a warning sign associated with token launch mechanisms. More advanced approaches to launches, notably Dutch auctions and Liquidity Bootstrapping Pools, would help level the playing field for smaller investors. Regardless, the $LIBRA and $MELANIA scandals makes it clear that insider access and market manipulation is an unfortunate reality despite improved launch mechanisms. DWF Labs argues that improved oversight, mandatory pre-launch disclosures, and advanced anti-manipulation measures are steps needed to take to restore order in the market.

Solana’s community just made two big decisions about the network’s future – and they have significant implications for SOL holders. A proposal to slash Solana’s inflation rate (SIMD-228) failed, while a plan to share revenue with validators (SIMD-123) passed. The vote, with 74.3% of Solana’s total stake participating, marked the highest engagement in Solana’s governance history – surpassing even U.S. presidential elections turnout in the past 100 years, as proudly noted by Solana on X. SIMD-228 aimed to ditch Solana’s fixed inflation schedule for a market-driven system, adjusting token issuance based on staking participation. The goal was to reduce Solana’s inflation rate to below 1% annually at the current staking rate of 65%. This contrasts with the existing fixed schedule of 4.6% annually, decreasing to 1.5% over time. Supporters argued that reducing inflation would make SOL scarcer and more valuable, benefiting long-term holders. However, opponents expressed concerns that it could negatively impact smaller stakers and validators who rely on staking rewards for profitability. Related: Solana Co-Founder Anatoly Yakovenko: Trump’s Crypto Order a “Scalpel” Cutting Through Regulatory Uncertainty The vote began on March 6 during Solana Epoch 753 and concluded at the end of Epoch 755. It needed 66.67% approval to pass, but fell short with only 61.4% YES votes. “So issuance will stay the way it is,” said Mert Mumtaz, CEO of Solana developer platform Helius Labs. Related: Solana Revenue Tanks 93%: Meme Coin Market Freefall—Network Earnings Suffer Tushar Jain, co-author of SIMD-228 and co-founder of Multicoin Capital, described the vote as a milestone for crypto governance, calling it the largest governance vote ever in terms of participant count and market cap involvement. While SIMD-228 failed, SIMD-123 passed with nearly 75% approval. The proposal introduces an on-chain mechanism for validators to share a portion of their revenue with stakers. This means validators will now have a standardized way to reward those who stake their SOL with them. Currently, some validators use off-chain methods to incentivize stakers. The new system aims to make this process more transparent and efficient, directly on-chain. In his remark , Solana Labs co-founder Anatoly Yakovenko suggested that opposition to SIMD-228 was not purely self-serving. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Solana’s price faces renewed pressure following a significant unstaking event by an Alameda Research-linked wallet. Blockchain data confirms that an address associated with Alameda withdrew $23 million worth of SOL and distributed the funds across multiple addresses. On-chain activity reveals that the staking address unlocked $22.9 million SOL before transferring assets to 37 affiliated wallets linked to Alameda and FTX. The cumulative holdings of these addresses now total approximately $178.82 million in SOL, fueling speculation of a potential selloff. Historically, large unstaking events have resulted in increased selling pressure, often leading to price declines. If these funds are moved to exchanges, the likelihood of a significant downturn in Solana’s price increases. Historically, the mass unstaking of SOL has signaled impending market corrections. Earlier this month, whales unstaked nearly $1 billion in SOL, leading to a decline in Solana’s price. A similar event occurred in previous instances when unstaked tokens flooded the market, triggering a price drop as demand struggled to match supply. Experts track Solana trading at $126.53 since the price declined by 15% during the last week. Trading volume has weakened by 22.71% throughout the past day to reach $4.1 billion. When investors lose confidence, trading activities diminish, and this situation intensifies price drops. ARKHAM ALERT: ALAMEDA ADDRESS JUST UNSTAKED $23M SOL TO 38 NEW ADDRESSES An FTX/Alameda Staking address received $22.9M SOL from a staking address unlock and has just distributed these funds to 37 addresses that have previously received SOL from this address. These addresses… pic.twitter.com/9eWuKAY4na The Solana token shows signs of a death cross formation through technical indicators, which serves as an important bearish indicator. A death cross in the cryptocurrency occurs when the shorter-term moving average drops below the longer-term moving average. The historical appearance of this pattern before led to severe price drops for Solana. The technology network Solana faced its initial death cross in 2022, which triggered a destructive 90% value loss, which intensified due to the FTX collapse . The “Trump pump” phase followed the second death cross after prices fell through the year. The current market shows indications that Solana will struggle to reach its projected $200 mark. The market conditions have persuaded traders to take a reserved approach. Market worries for protracted downward price movements increase because Alameda continues to reduce its SOL stake while bearish technical signals persist. Attention of investors remains focused on unstaked SOL transfer activities to exchanges since such movements will support existing expectations about an upcoming price drop. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.