Undead Sols narxiSOL

Forward Industries, Solana’s largest corporate holder, authorizes $1B share repurchase to support shareholders amid market pressure. 🟢 6.8M $SOL on the balance sheet (~$1.1B) + validator node launch shows deep commitment to Solana treasury strategy $TON $SUI

📊 Crypto market crash wipes out $270 billion in 24 hours The cryptocurrency market has experienced a significant downturn, with over $270 billion in market value evaporating within a 24-hour period. As of press time, the total market capitalization of cryptocurrencies stood at $3.45 trillion, down from $3.72 trillion just a day prior. Leading the charge in this crash were some of the market’s top cryptocurrencies. Bitcoin (BTC), Ethereum (ETH), and XRP all saw substantial drops. Bitcoin, for instance, is trading around $103,944. Ethereum’s price has also slumped, now hovering around $3,500, while XRP, despite the recent excitement surrounding Ripple’s Swell conference, fell by 5.46%, trading at $2.27. 🔸 Why crypto market is crashing The catalyst for this sharp sell-off appears to be comments by United States Federal Reserve Chair Jerome Powell. At last week’s meeting, Powell stated that a rate cut in December was not guaranteed, signaling a slower pace of interest-rate reductions and caution regarding inflation. These remarks immediately impacted global risk sentiment, leading to a sell-off in both equities and cryptocurrencies. At the same time, the rising strength of the US dollar, particularly against the Japanese yen, has further amplified the aversion to risk assets, pushing traders to shift toward safer investments. Additionally, volatility in the cryptocurrency market has been exacerbated by derivatives activity. With perpetual contract volumes soaring by 142% and open interest falling by 5.1%, there have been signs of a classic long squeeze. 🔸 Pressure on leveraged positions This has placed pressure on leveraged positions, with major altcoins like Solana (SOL) and XRP experiencing 8% to 9% drops. In Solana’s case, the price fell below its 200-day exponential moving average (EMA), triggering liquidation events to the tune of $19 million. The market has also been plagued by what analysts are calling “narrative fatigue.” Despite ongoing institutional interest, particularly BlackRock’s push for tokenization. #Crypto

🟣 Solana’s Vibhu Norby challenged Ripple executives and the $XRP community to a live debate A high-profile leader in the Solana ecosystem, Vibhu Norby, popularly known as Vibhu, has challenged Ripple chefs and community members to participate in a live public debate centered on verifiable on-chain data. Serving as the current head of Product Marketing at the Solana Foundation with a broad experience in web3 technology, Vibhu made this invitation via the X platform, motivating any individual from the XRP community to engage in a “facts-only” discussion. 🔸 Vibhu criticizes the community for ignoring existing data on the XRP network Norby said his goal is to confront what he views as widespread misconceptions about the XRP network’s actual performance metrics. According to him, he is optimistic about Ripple and XRP succeeding in the ecosystem. However, Vibhu criticized the community for ignoring existing data that illustrates limited growth. He acknowledged that although it is fine to believe in future adoption, the current on-chain information implies otherwise. The crypto leader’s remarks noted years of stagnation in XRP’s network activity, in contrast to fast-growing blockchains such as Solana. Citing data from XRPScan, Vibhu highlighted that the total number of daily active accounts on the XRP Ledger over the last three years has remained around 25,000. His statement followed a recent announcement that Evernorth, a new venture in the crypto industry backed by digital asset firm Ripple, has been listed on Nasdaq. Following this announcement, analysts believe the listing will expand XRP’s footprint among institutional investors. Meanwhile, in contrast to XRP’s daily active accounts, Solana reportedly has over 2.5 million daily active accounts, illustrating a notable difference. Based on Vibhu’s argument, this situation has sparked heated debates, as XRP has been in the market for a long time and has a valuable ecosystem. #XRP #SOL

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