NiftyNoon: Will the $LIBRA Milei Rug End the Memecoin Cycle? 🇦🇷📉🔄
The memecoin community is in disarray following the rise and fall of the $LIBRA token originally promoted by Argentina president Javier Milei (February 18, 2025)
Nifty Thought:
The Solana memecoin community is in disarray following the corruption that led to the rise and fall of the $LIBRA token originally promoted by Argentina president Javier Milei. Although the coin initially ran to a $4 billion fully diluted value after being promoted by Milei and other officials from Argentina, it quickly crashed as insiders began selling aggressively. Eventually, this culminated in Milei distancing himself from the token with the claim that he has no direct involvement with this private enterprise. As the majority of crypto retail investors lost substantial amounts of capital, accusations have flown targeting KelsierVentures (the firm that helped launch the coin), Jupiter, Meteora, and various crypto influencers.
Regardless of how you may feel about this coin specifically, it should now be clear that memecoin trading is predominantly an insider’s game. Retail capital is flowing to people with inside information that are able to make more informed decisions more quickly. With this in mind, it is the hope of the NiftyNoon team that readers remain vigilant in defending their capital and preventing unnecessary losses. Stay safe and good luck.
Highlighted News:
📉 Pulse check on the Solana trenches:
https://x.com/Tyler_Did_It/status/1891131830046245268
🐱 @weremeow, platform CoFounder, addresses concerns regarding Jupiter or Meteora committing insider trading or financial wrongdoing:
https://x.com/weremeow/status/1891664435321647186
🚽 11 insider wallets have made a profit of $43.8M by dumping $LIBRA:
https://x.com/lookonchain/status/1890604533593850364?s=46
🇦🇷 According to Reuters, Argentine President Javier Milei may face an impeachment trial in Congress after opposition lawmakers said he promoted a cryptocurrency that quickly collapsed after its launch:
https://x.com/WuBlockchain/status/1890953395126624659
🪑 Here are the highlights of @stoolpresidente’s Space:
https://x.com/punk9059/status/1891162986632613900
🟠 Bitcoin trading with native deposits live on Hyperliquid:
https://x.com/sershokunin/status/1890388764477804983?s=46
Project and Community News:
Argentina President @JMilei has decided to create a task force to launch an urgent investigation into the LIBRA token launch: https://x.com/DegenerateNews/status/1890946685670498586
Argentine lawyers charhe President @JMilei with fraud over cryptocurrency
promotion - per @AP: https://x.com/degeneratenews/status/1891260168232489256?s=46
How $LIBRA was created by the same team behind MELANIA and other short-lived coins: https://x.com/bubblemaps/status/1891289507338580028?s=46
Trump's World Liberty(@worldlibertyfi) bought another 52.07 $WBTC($5M) and 2.53M $MOVE($1.41M) 6 hours ago: https://x.com/lookonchain/status/1890225859392598453
State of Wisconsin Investment Board discloses $321 million Bitcoin ETF holdings: https://x.com/WatcherGuru/status/1890442225512792355
Millennium Management discloses $2.6 billion in Bitcoin ETF holdings and $182 million in Ethereum ETF holdings: https://x.com/WatcherGuru/status/1890512075211827xTygpbFTNOqT4Tg&s=19
Tudor Investment (Paul Tudor Jones’ firm) reported owning $426.9 million of IBIT (8,048,552 shares) as of December 31: https://x.com/macroscope17/status/1890503018220490920?s=46
World's largest custodian bank State Street & Citi bank to launch crypto custody services: https://x.com/WatcherGuru/status/1890437226997166442
Tether Investments Announces Strategic Minority Stake in Juventus Football Club @juventusfc: https://x.com/Tether_to/status/1890400940840058988
@VitalikButerin’s Reasons to have higher L1 gas limits even in an L2-heavy Ethereum: https://x.com/vitalikbuterin/status/1890381369806561789?s=46
Opensea's trading volume dominance is at 70% ($25.7M USD) in the last 24 hours: https://x.com/waleswoosh/status/1891203649084301478
Solana DEX volume nearing 3-month lows ~$2.5B per day the last two days: https://x.com/Tyler_Did_It/status/1891209333091741942
Introducing KAITO & the release of their whitepaper: https://x.com/KaitoAI/status/1890379872280682548?s=46
Allegedly Kaito will airdrop 33%: https://x.com/onchainmo/status/1891127178357518686?s=46
You’re not committed to the $PENGU game if you’re not building your own Igloos in the winter: https://x.com/beausecurity/status/1890862349134778751?s=46
Introducing the PUMP FUN Mobile App: https://x.com/pumpdotfun/status/1890416363165909079?s=61
Quick Stats:
👾 Blur ETH Daily Volume: 2,720 ETH (▲ 6.87%)
🌊 OpenSea ETH Daily Volume: 10,307 ETH (▲ 14.98%)
🟠 BTC : $96,237.27 (▼ 0.14%)
🔷 ETH: $2,702.29 (▼ 2.76%)
🟣 Solana: $169.83 (▼ 8.41%)
🟪 Polygon: $0.31 (▼ 6.99%)
Top NFT Sales:
CryptoPunks #7685: 60.00 ETH
CryptoPunks #3963: 50.00 ETH
CryptoPunks #5774: 44.00 ETH
NFT Daily Winners:
🏴☠ Captainz: 1.48 ETH (▲ 17.53%)
🦧 Bored Ape Yacht Club: 13.45 ETH (▲ 9.79%)
🐵 NodeMonkes: 0.06 BTC (▲ 3.16%)
🏳🌈 Chromie Squiggles: 4.49 ETH (▲ 2.28%)
⛩ Azuki: 2.94 ETH (▲ 0.31%)
🚬 CryptoPunks: 35.49 ETH (► 0.00%)
NFT Daily Losers:
🐧 Pudgy Penguins: 8.92 ETH (▼ 1.55%)
🍭 Mocaverse: 2.12 ETH (▼ 3.20%)
🐱 Quantum Cats: 0.19 BTC (▼ 3.47%)
🧦 Bitcoin Puppets: 0.05 BTC (▼ 4.90%)
💼 Ordinal Maxi Biz: 0.08 BTC (▼ 5.99%)
👾 Tensorians: 4.68 SOL (▼ 6.21%)
👩🏻 Milady Maker: 3.95 ETH (▼ 6.69%)
😡 Mad Lads: 46.45 SOL (▼ 7.10%)
Notes:
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