QCP Insights: Solana Faces Pressure Ahead of 30 Million Token Unlock

QCP Insights for Feb. 19 showed that inflation fears and escalating tariff tensions continue to dominate global market sentiment.

While the 10% tariff on select Chinese goods is now in effect, the proposed 25% tariffs on Canada and Mexico remain uncertain amidst the steel and aluminum tariff hike set for March 12. Despite these concerns, equities continued to rise, and volatility remained subdued.

However, crypto markets continue to trade sideways, due to increasing sell pressure. Solana faces downward pressure ahead of a 30 million token unlock on March 1, compounded by hedging flows tied to FTX-related SOL holdings. This has contributed to broader weakness in BTC and ETH.

Adding to market turbulence, Argentina’s memecoin LIBRA surged to a $4 billion valuation following a presidential endorsement, only to collapse 89%, leaving retail investors with massive losses.

Meanwhile, Michael Saylor’s Strategy did not add to its bitcoin holdings for the second consecutive week. However, the firm plans a $2 billion private offering to expand its BTC position.

Despite these headwinds, bitcoin remains resilient at around $95,000, though it lacks short-term catalysts to push higher.

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