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LIBRA: $251 million burned, 86% of traders at a loss
By Davide Grammatica
Nansen shared an assessment of the damage caused by the LIBRA case: 86% of traders lost a total of $251 million
All the damage caused by the LIBRA case
Thanks to a report shared by Nansen Research, which analyzed the onchain data related to the token sponsored in recent days by Argentine President Javier Milei, we can observe the “damage” caused by the most discussed “presidential” memecoin in recent weeks.
We’re talking about an overall loss of 251 million dollars, in which 86% of traders who interacted with the token participated. The remaining percentage would have earned $180 million instead. In the analysis, Nansen took into consideration wallets that recorded an absolute gain or loss of over $1,000.
“LIBRA was minted on February 14, 2025, at 21:38 UTC,” the report reads. ”At 22:01 UTC, Milei mentioned it on Twitter, shaking up the community, and at 22:44 UTC the price of the token rose to a peak of $4.55, only to drop again soon after.”
The numbers of the collapse
The collapse of 95% in a few hours triggered strong controversy, first and foremost against the Argentine president. Milei immediately distanced himself from the project, but the community did not seem to appreciate the president’s attitude.
Even now, according to Nansen, over 1,000 wallets hold the token with unrealized losses of about $11 million. One of the most successful snipes, on the other hand, made a profit of $6.5 million.
