What Happened in Crypto Today: Is a Bigger Crypto Crash Coming?

What Happened in Crypto Today? SOL, XRP, and LIBRA Take a Big Hit

Crypto Market in Trouble: SOL, XRP, and LIBRA Take a Big Hit

The cryptocurrency market is having a rough day, with prices dropping and panic spreading among investors. The total market value of all cryptocurrencies has fallen to $3.15 trillion, down 1.70% from yesterday. 

At the same time, the amount of crypto being traded has jumped 37.2% to $97.2 billion, showing that people are selling off their coins quickly.

Here’s a look at what’s happening with some of the biggest coins today.

Solana (SOL) Drops 10% as Activity Slows Down

Solana (SOL) has fallen 10.42% to $164.71, as investors prepare for a big token release on March 1, which could bring even more selling. To make things worse, a pump-and-dump scam involving a Solana-based meme coin called LIBRA caused a wider crash in meme coins, hurting investor confidence.

Recent data shows that fewer people are using the Solana network. The number of active addresses has dropped 55% since November, from 18.5 million to 8.4 million. However, trading volume is up 73.18% to $5.28 billion, meaning there’s still a lot of action happening, just with more uncertainty.

XRP Struggles—Will It Ever Reach $5?

XRP got a boost after Ripple CEO Brad Garlinghouse talked about its future, sparking hope that it might hit $5 soon. Some experts say that better regulations and worldwide adoption could push XRP higher.

However, today’s market drop has hurt that optimism. Right now, XRP is trading at $2.55, down 4.77% for the day. While some investors still believe in XRP’s long-term potential, the current market conditions could slow it down.

Argentina’s $LIBRA Token Disaster

Milei crypto scam: In Argentina, a major crypto scandal is unfolding. President Javier Milei had endorsed a new token called $LIBRA, saying it would help small businesses. The token skyrocketed to a $4.5 billion market cap before crashing by 95% in just a few hours.

Investigators have since discovered that over $100 million was withdrawn right before the crash, leading to accusations of insider trading. Critics are blaming Milei, saying his support for $LIBRA has damaged trust in Argentina’s crypto market.

Binance Pi Coin Vote: Will It Get Listed?

While the market is in turmoil, Binance is letting its users vote on whether to list Pi Coin on its exchange. From February 17 to 27, 2025, verified Binance users with at least $5 in their wallets can cast their votes.

The Pi Network community is excited, hoping a listing could boost Pi Coin’s value and adoption. However, with so much uncertainty in the market right now, it’s unclear if investors will back a new listing.

Ethereum’s Short-Lived Rally

Ethereum (ETH) had a brief moment of success, reaching a 12-day high of $2,832 on February 17. But the rise didn’t last—ETH has since dropped back to $2,691.32, following a wave of sell-offs.

Despite this pullback, ETH’s trading volume has jumped 89.09% to $26.05 billion, showing that people are still very interested in trading it. Some experts believe Ethereum could bounce back, but with so much market uncertainty, it’s hard to predict its next move.

Crypto Market Overview: More Pain Ahead?

• Total market cap: $3.15 trillion (-1.45%)

• 24-hour trading volume: $97.2 billion (+37.2%)

• Bitcoin dominance: 60.18% (+0.51%)

• Total DeFi volume: $7.14 billion (7.35% of total volume)

• Stablecoin volume: $89.75 billion (92.33% of total volume)

With heavy selling and big events coming up, the crypto market is on shaky ground. Will it bounce back, or are we headed for an even bigger drop? Stay tuned for more updates!