Traders Reduce Solana Exposure Amid Libra Concerns, Shift Focus to Bitcoin and Ethereum, Projecting $1 Million Price

Recent discussions among cryptocurrency traders indicate a notable shift in sentiment towards Solana ($SOL) and other cryptocurrencies. Several traders have announced their decision to reduce exposure to Solana, citing concerns over its association with the memecoin market and potential fallout from developments related to Libra. One trader expressed a long-term bullish outlook on Solana but opted to decrease short-term investments until market conditions stabilize. Others are reallocating their portfolios towards more established cryptocurrencies such as Bitcoin ($BTC) and Ethereum ($ETH), with some projecting Bitcoin's price could reach $1 million in the next 3-5 years. Additionally, there is a growing focus on decentralized exchanges (perpdex) and the increasing supply of stablecoins, which are expected to reach trillions. Overall, traders are advocating for a strategic repositioning away from meme-based assets towards more utility-driven investments.