LIBRA price surge and crash leave most traders in heavy losses: Nansen

A recent report by Nansen Research highlights the massive financial consequences of rapid fluctuations in balanced token price. Between February 14 and February 18, 86% of traders underwent losses totaling $ 251 million, while some privileged people obtained $ 180 million in profits.

The media threshing surrounding $ Libra At the start, when the president of Argentina, Javier Milei, approved the token on February 14. The approval, made by a tweet at 10:01 pm UTC, triggered an immediate price increase, culminating at $ 4.55 before hunting quickly. By February 18, 70% of the portfolios translating Balance made losses, probably due to the volatility of extreme prices.

Portfolios making profits in the middle of chaos

Despite generalized losses, some traders have managed to make substantial benefits. Two portfolios that bought Balance at 10:01 pm UTC on February 14 were sold within 43 minutes, generating a combined profit of $ 5.4 million. A portfolio, identified as Hyzgo2made $ 5.1 million in these brief 43 minutes.

In particular, the personality of the Dave Portnoy media was one of the high -level traders who have lost millions on the token. However, Portnoy then received a reimbursement of $ 5 million from the Stock Exchange, which raised questions about the equity of the responses of exchanges to eminent traders.

According to NansenThe rapid price fluctuations have been widely attributed to the approval of Milei, which sparked a speculative trading frenzy. However, the situation worsened when the token was “accident” by its creator, Hayden Davis, who rejected It is a coin, leaving many investors with significant losses. Crypto.News reported This Milei also deleted his tweet after the backlash, declaring that he did not know the details of the project.

The chain data indicates that many profitable traders acted quickly. Of the 15,431 portfolios that showed gains or losses greater than $ 1,000, 2,101 portfolios obtained a total of $ 180 million in profits. In particular, 57 portfolios have executed profitable transactions, 37 with more than $ 1,000 in profits.

In addition, 1,001 portfolio still hold the token with unrealized losses totaling approximately $ 11 million, while 71 wallets remain in profit, although considerably reduced to $ 0.54 million in February 18 at 8:00 a.m. UTC.

The impact on Solana and the broader feeling of the market

While the token initially increased, the loss rate of 70% among portfolios exchanging the balance between February 16 and February 18, also stressed its volatility. A significant contributory factor was Milei’s Retweet on February 17, which briefly caused another price peak before meeting completely within 24 hours.

In the middle of the turmoil, the Solana network, which supported the balance, saw a 16% decline In its price, reflecting the broader impact of the market. The volume of liquidity on Solana increased from $ 12.1 billion to $ 8.29 billion, presenting the fiasco training effect.