LIBRA Launch Impact: Solana Drops 9%, Bitcoin Fears Grow

• LIBRE launch tension drives Solana’s price down 9%, impacting Bitcoin and Ethereum slightly.
• The total crypto market cap is $3.14 trillion, with Bitcoin’s dominance at 57.51%.
• Smaller-cap tokens like SHADOW PROPC see significant price gains amid market volatility.

The analytical platform CryptoRank showed a mixed cryptocurrency market environment due to significant market price changes. In an X post on Tuesday, the platform emphasized LIBRE launch tension points, leading to Solana’s (SOL) 9% price depreciation, which dropped its value to $165. The cryptocurrency market showed caution by seeing Bitcoin (BTC) and Ethereum (ETH) perform slight downward movements.

The total cryptocurrency market capitalization is currently $3.13 trillion but has decreased by 1.89% over the past day. Bitcoin’s market dominance has expanded to 0.83%, now taking up 57.51% of the entire market space. The Fear Greed Index shows a reading of 47 while providing a combined signal of cautious to fearful investor sentiment. As of press time, BTC is trading at $95,222, showing a 1.10% decline over the past day.

LIBRE Launch Dispute Impact

The LIBRE launch dispute continues negatively affecting the cryptocurrency market as Solana (SOL) experiences sharp investor concern. The LIBRE launch dispute brought dramatic price movements that negatively affected BTC, ETH, and other major crypto assets. Investors remain cautious because the latest market events continue to develop.

Some tokens among smaller-cap cryptocurrencies demonstrated significant price increases throughout this market period. The top-moving cryptocurrencies included ShadowOnSonic (SHADOW), which increased by 52.3%. PropChainGlobal (PROPC) rose by 35.9%, and SoSoValueCrypto (SOSO), ascended by 35.7%. LiquidLaunchHL (LIQD) rose 2by 7.1%, and Ethmoodengfan increased by 25.3%.

Related: Milei’s LIBRA Token Faces Pump-and-Dump Allegations

Upcoming Launches

According to the platform’s findings, the HyperEVM deployment reached its official launch status, establishing an essential stepping stone for Ethereum Virtual Machine technology. On February 19th, Monad is planning its testnet launch, and KAITO successfully performed the Yaps project snapshot.

Due to market-wide volatility and the ongoing LIBRE launch debate, the market advances while investors maintain caution. The current market depends heavily on investors who continuously monitor new developments, while the situation interests market participants who want to observe its effects on Bitcoin and other cryptocurrencies.

The post LIBRA Launch Impact: Solana Drops 9%, Bitcoin Fears Grow appeared first on Cryptotale.