The rise and fall of Libra (LIBRA), a token endorsed by Argentine President Javier Milei, has sparked significant discussion in the cryptocurrency community. On February 14, 2025, a single tweet from Milei sent the price of LIBRA soaring to $34.5, giving it a market cap of $4.5 billion. The surge was driven by investor speculation and excitement, with many hoping the token would gain further momentum. However, the euphoria was short-lived, as LIBRA’s value plummeted by 92% just hours later.
The swift downfall wiped out millions in value as insiders cashed out more than $100 million. Investors who had rushed in during the rally found themselves facing severe losses as the token’s price dropped from its peak of $1.03 on February 15 to a mere $0.32, marking a staggering 93% decrease from its all-time high (ATH). Amid the collapse, President Milei deleted his social media post and distanced himself from the token, further contributing to the market’s uncertainty.
At its current price, LIBRA’s market cap stands at $82.16 million, a far cry from its brief $4.5 billion peak. The token’s future remains uncertain, with many questioning whether it can ever regain its former value. Despite rumors of potential recovery plans or compensation for affected investors, the token would need an improbable 1,285% rally to return to its ATH, a recovery that seems unlikely given current market conditions.
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In conclusion, the dramatic rise and fall of Libra Token serve as a cautionary tale about the volatility of politically influenced cryptocurrencies and the dangers of speculation-driven assets. With investor confidence shaken, it remains to be seen whether LIBRA can ever reclaim its former glory or if its hype has completely faded.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
