Galaxy Research: The LIBRA "runaway" incident may further undermine investors' demand for holding SOL.

According to a report from CoinDesk on February 18, Deep Tide TechFlow has indicated that the suspected exit scam of the LIBRA token has become a significant event impacting the Solana meme coin ecosystem. The token claimed to assist small businesses and once received support from Argentine President Javier Milei, reaching a market capitalization of 4.50 billion USD, but subsequently plummeted by 90%, putting Milei under impeachment threat.

The project's founder and CEO of Kelsier, Hayden Davis, admitted in an interview with Coffeezilla that his team issued both the LIBRA and MELANIA tokens and immediately executed a sniper attack after the contract address was published. Davis denied the exit scam allegations, stating it was a "planning error," and that he still holds 100 million USD in his accounts.

Alex Thorn, head of research at Galaxy, stated that following the launch of the TRUMP token in January, which briefly reached a fully diluted valuation of 75 billion USD, a liquidity crisis was triggered, leading to a significant decline in the Solana meme coin ecosystem. The LIBRA incident may further undermine investor demand for holding SOL, as the price increase of SOL is mainly driven by the demand for SOL-denominated assets such as meme coins.