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Here’s How Much Money Investors Lost on Libra Memecoin and the Percentage of Losers

Here’s How Much Money Investors Lost on Libra Memecoin and the Percentage of Losers

BitcoinsistemiBitcoinsistemi2025/02/20 09:55
By:Mete Demiralp

Nansen Research analysts have shared some unknowns about the Libra memecoin, which is reported to be a scam.

According to a report by Nansen Research, almost all traders who participated in the Solana-based LIBRA memecoin associated with Argentine President Javier Milei suffered significant losses.

Citing Onchain data, Nansen found that as of Tuesday, 86% of investors had collectively lost $251 million in LIBRA tokens.

“LIBRA was created on February 15, 2025 at 00:38,” Nansen Research detailed in a post, adding: “At 01:01, Milei tweeted about it, triggering a surge in interest in the market. Snipers quickly got involved, and by 01:44, the token’s price had skyrocketed to $4.55, an explosive rise within an hour of its launch, but it crashed almost immediately.”

After a brief surge to a market cap of around $4 billion, LIBRA has lost 95% of its value. In response to the controversy, Milei attempted to distance itself from the project, stating that its tweet was not an incentive to buy the token, but merely an effort to “spread the word.”

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While the majority of traders suffered losses, a smaller group managed to make significant gains. According to Nansen, traders who avoided losses collectively made $180 million in profits. The firm also reported that 1,001 wallets continue to hold the token, with unrealized losses standing at around $11 million.

“One of the most successful sniffers made a profit of $6.5 million,” Nansen said, adding: “The wallet was funded by another external wallet that was also connected to a Bybit wallet as well as a trading bot.”

The concept of sniper refers to wallets that make large purchases within seconds after a token is released into the cryptocurrency market.

*This is not investment advice.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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