Nearly 86% of traders in the meme coin LIBRA, indirectly linked to Argentina’s President Javier Milei, have incurred losses. According to a study by Nansen Research, the total losses amounted to $251 million.
The remaining market participants earned $180 million. One of the most successful traders recorded a profit of $6.5 million. His wallet was funded through the Bybit exchange and another external source using trading bots.
The overall result was calculated based on the activity of addresses with profits or losses exceeding $1000. Researchers noted that 1001 wallets hold LIBRA, with total unrealized losses amounting to $11 million.
Earlier, Lookonchain reported that some users had twice recorded significant losses from investments in LIBRA. One whale lost a total of $2.78 million.
LIBRA was launched on February 14 on the Solana blockchain. Almost immediately after, the President of Argentina mentioned the coin on X, sparking market excitement.
Subsequently, he stated that he never urged people to buy LIBRA. However, Milei’s actions still led to a scandal. The president was accused of fraud, involvement in a Pump & Dump scheme, and faced threats of impeachment.