ProBit Global Highlights:
An exciting week of events are up ahead! 🚀
Current and Upcoming Events:
- Current: SHIBAcoin (SHIBACOIN) Staking Event; Vista Finance (VISTA) Airdrop
- Upcoming: Vista Finance (VISTA) Trading Competition
Gear up for another action-packed week filled with awesome events only on ProBit Global!
Why Is Solana Struggling? It’s More Than Just The LIBRA Scandal
Solana’s recent price drop isn’t just about the Libra memecoin scandal—it runs deeper. SOL plunged 17% between Feb. 14 and Feb. 18, shedding billions in market value. While the crash of the Libra memecoin, linked to Argentina’s President Javier Milei, made headlines, Solana was already facing trouble.
A sharp decline in onchain activity, a 91% drop in DEX trading volume, and a 19% dip in total value locked (TVL) have weakened the ecosystem. Meanwhile, a looming 15 million SOL unlock in early 2025 has fueled fear in the market. Combined, these factors have driven SOL to its lowest price since November 2024.
Bitcoin ETPs See First Major Sell-Off Of 2025 Amid Economic Uncertainty
Cryptocurrency exchange-traded products (ETPs) faced their first major outflows of 2025, with Bitcoin leading the sell-off. BTC ETPs saw $430 million in outflows last week, ending a 19-week inflow streak.
The downturn was fueled by macroeconomic concerns, including Federal Reserve Chair Jerome Powell’s cautious stance on interest rate cuts and rising inflation data. While Bitcoin took the biggest hit, some altcoin ETPs—such as Solana and XRP—saw inflows. Interestingly, short-Bitcoin products also recorded outflows, suggesting investors are uncertain about the market’s next move.
Solana’s Struggles Help Boost Ethereum’s Momentum
Solana’s dominance is facing a setback as memecoin scandals tarnish its reputation. The SOL/ETH ratio, which hit record highs in January, has dropped from 0.08 to 0.06 amid growing concerns over insider trading and scam allegations.
While Solana’s rapid growth was fueled by memecoin trading, its recent fallout—triggered by the $4.4 billion crash of Libra (LIBRA) — has shaken investor confidence. Meanwhile, Ethereum is gaining ground, with increasing adoption, stronger development activity, and rising fee revenues. As market sentiment shifts, traders are watching closely to see if Ethereum reclaims its lead.
Blockaid Secures $50M To Strengthen Blockchain Security
Blockchain security firm Blockaid has raised $50 million in a Series B funding round led by Ribbit Capital, with support from GV and other investors. The company, which has scanned over 2.4 billion transactions and blocked 71 million attacks, aims to expand its research and engineering teams to meet growing demand.
As blockchain adoption accelerates, securing on-chain transactions is more critical than ever. Blockaid’s real-time threat detection is already trusted by major players like Coinbase and MetaMask. With this new investment, the firm plans to enhance its machine learning capabilities to stay ahead of evolving cyber threats.
South Korea Halts DeepSeek Downloads Over Data Privacy Concerns
South Korea has temporarily suspended downloads of DeepSeek, a Chinese AI chatbot, amid concerns over how it handles user data. The country’s Personal Information Protection Commission (PIPC) is investigating the app’s data practices and working with DeepSeek to strengthen privacy protections before a relaunch.
Existing users can still access the service, but regulators urge caution. The investigation includes on-site inspections to ensure compliance with South Korean privacy laws. This move highlights growing global concerns about AI-driven data collection and national security, setting a precedent for stricter regulations on AI-powered applications.
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