news 
Financial Damages from LIBRA Coin Fiasco Revealed in Nansen Report
The recent collapse of the LIBRA token has left a trail of destruction in its wake. A new report by on-chain analytics platform Nansen reveals that an astonishing 86% of investors have collectively lost approximately $251 million due to their investment in this meme coin.
According to the findings, only a mere 2,101 wallets managed to turn a profit from their involvement with LIBRA, indicating that nearly all participants suffered substantial losses. The data further shows that more than 15,000 investors ended up in the red, painting a grim picture of the financial devastation caused by this token’s implosion.
The report also highlights some stark contrasts within the data. On one hand, it is revealed that two wallets made a staggering $5.4 million by buying and selling LIBRA within just 43 minutes. This begs the question of whether these early adopters were savvy traders or automated bots.
On the other hand, there are those who continued to buy and sell the token after a brief resurgence in interest following a February 17 tweet from Argentine President Javier Milei. Despite briefly pushing up the cryptocurrency’s price by 125%, this surge ultimately proved short-lived, as the coin’s value retracted within the next 24 hours. This group of traders, likely consisting of retail investors, suffered substantial losses.
The report also reveals that over 1,000 wallets still hold onto their LIBRA tokens, carrying unrealized losses totaling around $11 million. Furthermore, there are 71 addresses which have technically profited, but with combined gains amounting to just $540,000 as of February 18.
These findings paint a stark picture of the financial chaos that has been unleashed by this token’s collapse.
Source: cryptopotato.com
