Supported by Argentina President Javier Milei, Lıbra Token attracted attention in the market in a short time. In the first stage, the price reached record levels with high demand, a sudden decrease of 90 percent in a short time. While the project aimed to support small enterprises, speculative transactions caused losses for investors.
The rise of the token and sudden decrease
Token, introduced within the scope of Viva La Libertad project, showed a rapid increase with Milei’s approval. Although the price reached 4.5 dollars in a short time, the market has been welcomed by the market, the large amounts of the developers from liquidity and internal transactions caused a sharp decrease in the value of the token. The analyzes draw attention to the speculative structure of the market.
Internal transactions and political developments
According to data, investors who control most of the token supply, created fear in the market as a result of liquidity attraction. In the explanations, the structure behind the token and the internal transactions were shown as the reason for the investor losses. Milhei’s last statement brought the political aspect of the process to the agenda.
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Initially, Milei stated that the token would contribute to the Argentine economy, and then he did not know the details of the project. Because of this development, Milei withdrew his previous support statement.
“This special project will be aimed at ensuring the growth of the Argentine economy and the support of small enterprises.” – Javier Milei
“I think my political opponents manipulate.” – Javier Milei
There are warnings that similar speculative movements are experienced in other projects in the market. Token is emphasizing that the purchase and sale transactions should be careful, while the concern between investors has increased.
The situation caused investors to re -evaluate the risks and led to the initiation of market regulators. The event showed that explanations of supportive figures may have significant effects on the market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
