TechFlow news, February 21 — According to Cointelegraph, meme coin scams are eroding community trust. The Libra token incident in particular has intensified capital outflows from the Solana ecosystem, with monthly active addresses dropping from 15.6 million in November 2024 to 9.5 million in February, a nearly 40% decline month-on-month.
Glassnode data shows that monthly net inflows for Solana and its MEME index have turned negative, reaching -5.9%. According to deBridge, over $7.7 million has been transferred to Arbitrum and $6.9 million to Ethereum. Blockchain researcher Aylo believes this recent purge will benefit the ecosystem in the long run by raising standards and eliminating bad actors.
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